Appachan O.V vs The South Indian Bank Ltd
2021 Latest Caselaw 23649 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   TUESDAY, THE 30TH DAY OF NOVEMBER 2021 / 9TH AGRAHAYANA, 1943
                        WP(C) NO. 25098 OF 2021
PETITIONER :

          APPACHAN O.V.,
          AGED 70 YEARS,
          S/O. VARKEY, ORAVANAMTHADATHIL HOUSE,
          PALLIKKUNNU P.O, KANIYAMBETTA VILLAGE,
          MUTTIL NORTH, KALPETTA,
          WAYANAD DISTRICT, PIN - 673121.

          BY ADVS.
          MATHEW KURIAKOSE
          J.KRISHNAKUMAR (ADOOR)
          MONI GEORGE


RESPONDENTS :

    1     THE SOUTH INDIAN BANK LTD.,
          REGD. OFFICE OF THRISSUR AND BRANCHES AT VARIOUS PLACES
          INCLUDING AT MEENANGADI,
          WAYANAD DISTRICT - 673591,
          REPRESENTED BY ITS BRANCH MANAGER.

    2     THE AUTHORIZED OFFICER,
          THE SOUTH INDIAN BANK LTD, REGIONAL OFFICE,
          KVR TOWER, PAMPAN MADHAVAN ROAD,
          TALAP, KANNUR DISTRICT - 670 002.

          BY ADVS.
          SRI.K.K.JOHN, SC, SOUTH INDIAN BANK
          ASISH K.JOHN


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 25098 OF 2021
                                        2

                   BECHU KURIAN THOMAS, J.
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                    W.P.(C) No.25098 of 2021
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            Dated this the 30th day of November, 2021


                                 JUDGMENT

Petitioner as borrower from the respondent bank has committed

default in repayment. Consequently, proceedings have been initiated by the

bank for recovery of the amounts due.

2. During the course of hearing, petitioner has confined the relief

to an opportunity for repaying the outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank that the

petitioner committed default in repayment and the total outstanding amount is

Rs.62,40,713/- under an overdraft facility and a loan against the property. It

was further submitted that, though proceedings for recovery have been

initiated, as a matter of indulgence, the respondent bank is willing to accept

repayment of the outstanding amount in limited instalments.

4. I have heard Sri.Mathew Kuriakose, the learned counsel for the

petitioner as well as Sri.K.K.John, the learned standing counsel for the

respondents.

5. Having regard to the circumstances of the case and the

situation now prevailing, apart from the submissions made as recorded above, I

am of the view that the petitioner can be granted an opportunity to repay the WP(C) NO. 25098 OF 2021

outstanding amount in '20' instalments.

6. Accordingly, there will be a direction to the respondent bank to

accept repayment of the entire outstanding amount of Rs.62,40,713/- along

with bank charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.62,40,713/- shall be repaid in '20' equated monthly instalments.

(ii) The first instalment shall be paid on or before 22.12.2021.

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE

RKM WP(C) NO. 25098 OF 2021

APPENDIX OF WP(C) 25098/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE NOTICE DATED 05.11.2021 ISSUED BY THE 2ND RESPONDENT.