Kerala High Court
Jayasree Rajesh vs The Authorised Officer on 7 April, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 7TH DAY OF APRIL 2022 / 17TH CHAITHRA, 1944
WP(C) NO. 11178 OF 2022
PETITIONER:
JAYASREE RAJESH
AGED 43 YEARS
JAYAGOVIDAM, KURICHILAKODE,
KODANGAD P.O.
KOCHIN-683 544.
BY ADV SREEJITH S.NAIR
RESPONDENT:
THE AUTHORISED OFFICER
UNION BANK OF INDIA, ANGAMALY BRANCH,
T.B. ROAD, ANGAMALY, ERNAKULAM
OTHER PRESENT:
ADV.ASP KURUP SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 11178 OF 2022
2
BECHU KURIAN THOMAS, J.
===========================
W.P.(C) No.11178 of 2022
============================
Dated this the 7th day of April, 2022
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 regularization 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.10,05,000/-. 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 regularize the
loan account.
WP(C) NO. 11178 OF 2022
4. I have heard Shri.Sreejith S.Nair, learned counsel for the
petitioner as well as Shri.A.S.P.Kurup, learned counsel for the
respondent.
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 twelve
instalments and thereafter, if the amount so directed is repaid
within the time as directed above, to have the loan account
regularized.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
Rs.10,05,000/- along with bank charges from the petitioner and
regularize the loan account of the petitioner on the following
conditions:
(a) The overdue amount of Rs.10,05,000/-
shall be repaid in twelve equated monthly
instalments.
WP(C) NO. 11178 OF 2022
(b) The first instalment shall be paid on or
before 07.05.2022 and the remaining
instalments shall be paid on or before the 7th
of the succeeding months.
(c) Petitioner shall continue to pay the
regular EMI's along with the instalments
directed above.
(d) In the event of default of any one
instalment, the respondent bank shall be
entitled to proceed in accordance with law.
(e) 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
ssa/
WP(C) NO. 11178 OF 2022
APPENDIX OF WP(C) 11178/2022
PETITIONER'S EXHIBIT
Exhibit P1 A COPY OF THE NOTICE ISSUED BY THE
RESPONDENT DATED 08.03.2022 UNDER SECTION
13(12) OF THE SARFAESI ACT
