Sasanth S.S vs Axis Bank Limited
2021 Latest Caselaw 21113 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    WEDNESDAY, THE 20TH DAY OF OCTOBER 2021 / 28TH ASWINA, 1943
                        WP(C) NO. 17051 OF 2016
PETITIONER :

          SASANTH S.S.,
          AGED 32 YEARS,
          S/O.SASI M., VALIYAVILAKATHU VEEDU,
          THITTAVELIKKARA, PALLICHAL,
          BALARAMAPURAM P.O.,
          THIRUVANANTHAPURAM.

          BY ADVS.
          SRI.BIJU BALAKRISHNAN
          KUM.APARNA SOMARAJAN
          SMT.PRINCY XAVIER



RESPONDENTS :

    1     AXIS BANK LIMITED,
          KARAMANA BRANCH, THIRUVANANTHAPURAM,
          PIN-695 002, REPRESENTED BY ITS MANAGER

    2     THE AUTHORISED OFFICER,
          RETAIL ASSETS CENTER,
          NIHAL COMPLEX, 2ND FLOOR,
          NEAR KARAMANA BRIDGE, KARAMANA ,
          THIRUVANANTHAPURAM, PIN - 695 002.

          BY ADV SRI.T.K.RAJESHKUMAR


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
20.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17051 OF 2016
                                     2

                       BECHU KURIAN THOMAS, J.
                     =-=-=-=-=-=-=-=-=-=-=-=-=-=
                       W.P.(C) No.17051 of 2021
                     =-=-=-=-=-=-=-=-=-=-=-=-=-=
                 Dated this the 20th day of October, 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 overdue amount in instalments

and to obtain regularisation of the loan account.

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

petitioner committed default in repayment and the overdue amount is

Rs.9,17,680/-. 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 overdue amount in limited

instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as well

as the learned 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 WP(C) NO. 17051 OF 2016

to repay the overdue amount in ten instalments and thereafter, if the

amount so directed is repaid within the time as directed above, to have

the loan account regularised.

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

bank to accept repayment of the entire overdue amount of Rs.9,17,680/-

along with bank charges from the petitioner and regularise the loan

account of the petitioner on the following conditions:

(i) The overdue amount of Rs.9,17,680/- shall be repaid in ten equated monthly instalments.

(ii) The first instalment shall be paid on or before 15.11.2021.

(iii) Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

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

(v) 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. 17051 OF 2016

APPENDIX OF WP(C) 17051/2016

PETITIONER'S EXHIBITS :

P1. PHOTOSTAT COPY OF THE VISA IN THE NAME OF THE PETITIONER

P2 PHOTOSTAT COPY OF THE DISCHARGE SUMMARY DATED 16/1/2016.

P3                  PHOTOSTAT COPY OF THE STATEMENT OF ACCOUNT

P4                  PHOTOSTAT COPY OF THE NOTICE DATED

30/4/2016 OF THE ADVOCATE COMMISSIONER