Somy Jacob vs Csb Bank Ltd
2021 Latest Caselaw 18777 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
  THURSDAY, THE 9TH DAY OF SEPTEMBER 2021 / 18TH BHADRA, 1943
                    WP(C) NO. 18458 OF 2021
PETITIONER :

          SOMY JACOB,
          AGED 65 YEARS,
          S/O. JACOB, VARIKKATTU HOUSE,
          KALAYANTHANI, CHILAVU P.O.,
          IDUKKI DISTRICT, PIN-685 588

          BY ADV DOMSON J.VATTAKUZHY



RESPONDENTS :

    1     CSB BANK LTD.,
          THODUPUZHA BRANCH,
          REPRESENTED BY THE BRANCH MANAGER,
          PIN - 685 584

    2     THE AUTHORIZED OFFICER,
          UNDER THE SARFAESI ACT,
          CSB BANK LTD, ZONAL OFFICE, ERNAKULAM-31

          BY ADV.K.ANAND




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING :
 WP(C) NO. 18458 OF 2021
                                    2



                   BECHU KURIAN THOMAS, J.
                 =-=-=-=-=-=-=-=-=-=-=-=-=-=
                   W.P.(C).No.18458 of 2021
                 =-=-=-=-=-=-=-=-=-=-=-=-=-=
            Dated this the 9th day of September, 2021



                              JUDGMENT

The only relief claimed in this writ petition is for a facility

for payment of the entire loan amount in instalments.

2. Adv.K.Anand, appearing for the respondents, on

instructions, submits that the total outstanding amount due from the

petitioner is Rs.54,26,336/- (Rupees Fifty Four Lakhs Twenty Six

Thousand Three Hundred and Thirty Six only) as on 31.08.2021.

According to the learned counsel, if the petitioner is willing to show

his bonafides by paying a substantial amount, the Bank is willing to

consider granting instalment facility to the petitioner.

3. Adv.Domson J.Vattakuzhy, the learned counsel for the

petitioner asserted that petitioner is willing to pay a substantial sum

within a period of four weeks from today.

4. Taking into consideration the aforesaid submissions of

the parties, I am of the view that the respondents can be directed to

keep in abeyance all proceedings pursuant t Ext.P2 on condition that

petitioner repays the entire outstanding amount of Rs.54,26,336/- WP(C) NO. 18458 OF 2021

(Rupees Fifty Four Lakhs Twenty Six Thousand Three Hundred and

Thirty Six only) in seven instalments as stipulated below.

1. As the first instalment, petitioner shall pay to the first

respondent an amount of Rs.10,00,000/- (Rupees Ten Lakhs only)

on or before 30.09.2021.

2. A further sum of Rs.15,00,000/- (Rupees Fifteen Lakhs

only) shall be paid by the petitioner to the 1 st respondent on or

before 30.11.2021.

3. If the aforesaid two instalments are paid by the petitioner

as directed above, the remaining amounts shall be paid in five

equated monthly instalments. Of the remaining five equated

monthly instalments, the first of which shall commence on

01.01.2022.

4. Needless to mention in the event of default of any one

instalment as directed above, the respondent Bank shall be

entitled to proceed in accordance with law.

This writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 18458 OF 2021

APPENDIX OF WP(C) 18458/2021

PETITIONER'S EXHIBITS :

Exhibit P1 A TRUE COPY OF THE SANCTION LETTER DATED 24.09.2019 ISSUED BY 1ST RESPONDENT

Exhibit P2 A TRUE COPY OF THE RELEVANT PAGE OF THE NOTICE DATED 09.11.2020 UNDER SARFAESI ACT ISSUED BY R2

Exhibit P3 A TRUE COPY OF THE CASE DETAILS OF MC NO.116/2021 OBTAINED BY THE PETITIONER FROM THE E-COURTS SERVICE OF C.J.M COURT, THODUPUZHA