Girivasan T vs Kottakkal Co-Operative Urban ...
2021 Latest Caselaw 19438 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   THURSDAY, THE 16TH DAY OF SEPTEMBER 2021 / 25TH BHADRA, 1943
                        WP(C) NO. 13650 OF 2021
PETITIONER :

          GIRIVASAN T.
          AGED 53 YEARS,
          S/O.APPU, THAYYIL HOUSE, CHENAKKAL,
          KUTTIPURAM P.O., MALAPPURAM - 679 571.

          BY ADVS.
          SAIBY JOSE KIDANGOOR
          BENNY ANTONY PAREL
          S.SIBHA
          P.M.MOHAMMED SALIH
          PARVATHY VIJAYAN



RESPONDENTS :

    1     KOTTAKKAL CO-OPERATIVE URBAN BANK LIMITED,
          REPRESENTED BY ITS GENERAL MANAGER-IN-CHARGE NO.1378,
          P.O.KOTTAKKAL - 676 503.

    2     CHIEF EXECUTIVE OFFICER
          KOTTAKKAL CO-OPERATIVE URBAN BANK LIMITED NO.1378,
          P.O.KOTTAKKAL - 676 503.

          BY ADV DEVAPRASANTH.P.J.




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 13650 OF 2021
                                     2



                     BECHU KURIAN THOMAS, J.
                   =-=-=-=-=-=-=-=-=-=-=-=-=-=
                      W.P.(C).No.13650 of 2021
                   =-=-=-=-=-=-=-=-=-=-=-=-=-=
              Dated this the 16th day of September, 2021


                              JUDGMENT

Petitioner is a borrower from the 1st Respondent bank. He

has committed default in repayment of the loan amount.

Consequently, proceedings have been initiated by the bank for

recovery of the amounts due from the petitioner after recalling the

loan.

2. Though petitioner has raised various challenges in the

writ petition, during the course of the 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 of the loan

amount and hence petitioner's account was classified as non-

performing. It was further submitted that thereafter proceedings for

recovery of the amount were initiated and also that, even though

proceedings have been initiated for recovery of the amounts due, as WP(C) NO. 13650 OF 2021

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

repayment of the overdue amount of Rs.12,04,928/- (Rupees Twelve

Lakhs Four Thousand Nine Hundred and Twenty Eight only) in limited

instalments. Apart from the above, it was also submitted that if the

petitioner is willing to repay the overdue amount as directed by this

court, the respondent bank is willing to regularise the loan account.

4. I have heard Adv.Saiby Jose Kidangoor, learned

counsel for the petitioner as well as Adv. Devaprasanth P.J., 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 to repay the overdue amount in 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.12,04,928/- from the petitioner and regularise the loan account of

the petitioner on the following conditions:

(i). The overdue amount shall be repaid in ten equated monthly instalments.

WP(C) NO. 13650 OF 2021

(ii). The first instalment shall be made on or before 15.10.2021.

(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 above writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 13650 OF 2021

APPENDIX OF WP(C) 13650/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE BANK STATEMENTS DATED 2018-2021 EVIDENCING THE PAYMENT WITH ENGLISH TRANSLATION.

Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE DATED 20/02/2020 ALLEGEDLY ISSUED UNDER THE SARFAESI ACT, 2002 WITH ENGLISH TRANSLATION.

Exhibit P3 TRUE COPY NOTICE DATED 10/03/2020 ISSUED AGAINST THE PETITIONER WITH ENGLISH TRANSLATION.

Exhibit P4 REPRESENTATION PREFERRED BY THE PETITIONER BEFORE THE 1ST RESPONDENT DATED 26/06/2021.

Exhibit P5 TRUE COPY OF THE COMMUNICATION VIDE REF.NO.4201/164 DATED 24/06/2021 ISSUED BY THE RESPONDENT BANK.

Exhibit P6 TRUE COPY OF THE REPRESENTATION DATED 30;/06/2021 PREFERRED BY THE PETITIONER BEFORE THE 2ND RESPONDENT.