Chungath Varghese Jobby vs The Authorized Officer
2021 Latest Caselaw 18186 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     FRIDAY, THE 3RD DAY OF SEPTEMBER 2021 / 12TH BHADRA, 1943
                       WP(C) NO. 17816 OF 2021
PETITIONERS:

    1     CHUNGATH VARGHESE JOBBY
          AGED 61 YEARS
          S/O. C.L. VARGHESE, RESIDING AT CHUNGATH VILLA,
          METTUPALAYAM STREET, SULATHANPET, PALAKKAD - 678001.

    2     MEENA JOBBY
          AGED 58 YEARS
          W/O. CHUNGATH VARGHESE JOBBY, RESIDING AT CHUNGATH
          VILLA, METTUPALAYAM STREET, SULATHANPET, PALAKKAD -
          678001.

    3     JOSEPH JOBY CHUNGATH,
          AGED 31 YEARS
          S/O. CHUNGATH VARGHESE JOBBY, RESIDING AT CHUNGATH
          VILLA, METTUPALAYAM STREET, SULATHANPET, PALAKKAD -
          678001.

    4     MANOJ JOBY
          AGED 30 YEARS
          S/O. CHUNGATH VARGHESE JOBBY, RESIDING AT CHUNGATH
          VILLA, METTUPALAYAM STREET, SULATHANPET, PALAKKAD -
          678001.

          BY ADVS.
          T.C.SURESH MENON
          B.DEEPAK



RESPONDENTS:

    1     THE AUTHORIZED OFFICER
          AXIS BANK LIMITED, RETAIL ASSET CENTRE, 5TH FLOOR,
          CHICAGO PLAZA, RAJAJI ROAD, ERNAKULAM, KOCHI - 682035.

    2     AXIS BANK LIMITED,
          RETAIL ASSET CENTRE, 2ND FLOOR, HRIDYAM ARCADE, TUDA
          ROAD, KOVILAKATHUPADAM, THIRUVAMBADY, OPPOSITE KALYAN
          SAREES, THRISSUR - 680022, REPRESENTED BY ITS OPERATION
          HEAD.
 WP(C) No. 17816 of 2021
                               2


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No. 17816 of 2021
                                    3

                   BECHU KURIAN THOMAS, J.
                   ----------------------------------------
                       WP(C) No. 17816 of 2021
                   ----------------------------------------
               Dated this the 3rd day of September, 2021

                              JUDGMENT

Petitioners confine their relief in the writ petition to an

opportunity to repay the overdue amount in instalments.

2. Petitioners had constructed a shopping mall and had

taken a loan of Rs.4.82 crores from the second respondent.

3. According to the petitioners, due to the present

pandemic situation, the petitioners could not cater to the regular

instalments and hence, the loan fell in default. It is submitted that

the present overdue amount under the loan account is about 37

lakhs and petitioners seek time to repay the overdue amount in

instalments, so that the account can be regularised.

4. I have heard Adv. T.C. Suresh Menon on behalf of the

petitioners as well as Adv. Saju N.A. on behalf of the respondents.

5. Adv. Saju N.A. upon instructions, submitted that though

petitioners had been paying instalments regularly for the last six

months, they have not been able to cater to the regular EMIs. WP(C) No. 17816 of 2021

According to him, the overdue amount is Rs. 37 lakhs while the

entire amount now remaining due from the petitioners due to the

recall of the loan is Rs. 4.82 crores.

6. Taking into consideration the circumstances of the case

and the situation now prevailing on account of the pandemic, I am

of the view that the petitioners ought to be shown an indulgence

by granting a breathing time to repay the overdue amount and to

enable the petitioners to regularise the account.

Accordingly, there will be a direction to the respondents to

accept the overdue amount of Rs. 37 lakhs in ten equated monthly

instalments, the first of which commencing on 13.09.2021. The

aforesaid instalments to repay the overdue amount will be paid

along with the regular equated monthly instalments.

Needless to say, in the event of default of the instalment

facility granted as above, the second respondent bank will be

entitled to initiate appropriate proceedings in accordance with law.

The writ petiton is disposed of.

Sd/-

BECHU KURIAN THOMAS JUDGE AJ/03.09.2021 WP(C) No. 17816 of 2021

APPENDIX OF WP(C) 17816/2021

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE SANCTION LETTER ISSUED BY THE 2ND RESPONDENT DATED 20.02.2020.

Exhibit P2 TRUE COPY OF G.O(RT) NO.383/2021/DMD PASSED BY THE GOVERNMENT OF KERALA, DATED 26.04.2021.

Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 28.7.2021.

Exhibit P4 TRUE COPY OF THE REQUEST MADE BY THE PETITIONERS BY WAY OF EMAIL, DATED 23.08.2021.