Dinesh Kumar.D vs Thiruvananthapuram ...
2021 Latest Caselaw 21361 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM

                           PRESENT

        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

 FRIDAY, THE 29TH DAY OF OCTOBER 2021 / 7TH KARTHIKA, 1943

                   WP(C) NO. 21826 OF 2021

PETITIONERS:

    1     DINESH KUMAR.D
          AGED 48 YEARS,S/O. DIVAKARA MENON,
          MURUKA VILASAM,
          ANRA-B-19, PALATHARA,
          POWDIKONAM P.O, KERALADITHYAPURAM,
          THIRUVANANTHAPURAM DISTRICT, PIN - 695588.
    2     AJITHAKUMARI S.
          AGED 42 YEARS, W/O. DINESH KUMAR D.,
          MURUKA VILASAM,
          ANRA-B-19, PALATHARA,
          POWDIKONAM P.O, KERALADITHYAPURAM,
          THIRUVANANTHAPURAM DISTRICT, PIN - 695588.
          BY ADV P.V.DILEEP

RESPONDENTS:

    1     THIRUVANANTHAPURAM CO-OPERATIVE URBAN BANK
          LTD.NO.1959
          REPRESENTED BY ITS BRANCH MANAGER,
          MAIN BRANCH, M.G. ROAD, VANCHIYOOR P.O,
          THIRUVANANTHAPURAM, PIN - 695001.
    2     THE AUTHORIZED OFFICER,
          THIRUVANANTHAPURAM CO-OPERATIVE URBAN BANK
          LTD NO. 1959,
          HEAD OFFICE, P.B. NO. 115, M.G. ROAD,
          THIRUVANANTHAPURAM, PIN -695001.
          BY ADV.NISHA GEORGE,SC
     THIS WRIT PETITION       (CIVIL) HAVING COME UP     FOR
ADMISSION ON 29.10.2021,      THE COURT ON THE SAME      DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.21826/21
                                     -:2:-



                     BECHU KURIAN THOMAS, J.
                      -----------------------------------------
                        W.P.(C) No. 21826 of 2021
                      ----------------------------------------
                  Dated this the 29th day of October, 2021

                                JUDGMENT

Petitioners as borrowers from the respondent bank, have

committed default in repayment. Consequently, proceedings have

been initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioners have 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

petitioners committed default in repayment and the overdue amount

is Rs.4,13,849/-. 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 Adv.P.V.Dileep, learned counsel for the

petitioners as well as Adv.Nisha George, the learned Standing W.P.(C) No.21826/21

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 petitioners can be granted

an opportunity 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.4,13,849/-

along with bank charges from the petitioners and regularise the loan

account of the petitioners on the following conditions:

(i) The overdue amount of Rs.4,13,849/- shall be repaid in ten equated monthly instalments.

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

(iii) Petitioners 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.

W.P.(C) No.21826/21

(v) In order to enable the petitioners 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 vps W.P.(C) No.21826/21

APPENDIX OF WP(C) 21826/2021

PETITIONER'S/S' EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 18.09.2021 TO THE PETITIONERS U/S. 13(4) OF THE SARFAESI ACT AND RULES.