Kerala High Court
M.Bhamini vs Punjab National Bank on 22 April, 2022
WP(C) No.14304 of 2022 1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
FRIDAY, THE 22ND DAY OF APRIL 2022 / 2ND VAISAKHA, 1944
WP(C) NO. 14304 OF 2022
PETITIONER/S:
M.BHAMINI
AGED 64 YEARS
W/O.SIVARAJAN (LATE), MINI LAND, 663 A, TRAE - 122,
S.N.NAGAR, THURUVICKAL P.O., ULLOOR,
THIRUVANANTHAPURAM - 695 011.
BY ADV A.AHZAR
RESPONDENT/S:
PUNJAB NATIONAL BANK
REPRESENTED BY ITS AUTHORIZED OFFICER, MEDICAL
COLLEGE BRANCH, HOTEL ANJANA BUILDING, PAZHAY ROAD,
MEDICAL COLLEGE P.O., THIRUVANANTHAPURAM - 695011.
OTHER PRESENT:
SC: ADV SANTHEEP ANKARATH
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 22.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) No.14304 of 2022 2
VIJU ABRAHAM, J.
.................................................................
W.P.(C) No.14304 of 2020
.................................................................
Dated this the 22nd day of April, 2022
JUDGMENT
The petitioner has availed financial credit facilities from the
respondent bank. Since there was default in payment of the same,
proceedings under the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002 were initiated
as is evident from Ext.P4.
2. During the course of the hearing, petitioner sought for an
opportunity to repay the entire overdue amount in instalments and to
obtain regularisation of the loan account.
3. I have heard Sri.A.Ahzar, the learned counsel appearing
for the petitioner as well as Sri.Santheep Ankarath, the learned
Standing Counsel for the respondent.
4. The learned Standing Counsel, upon instructions,
submitted that the total overdue amount as on date is Rs.16,40,183/-
and the respondent Bank is willing to accept repayment of the overdue
amount in limited instalments. The learned Standing Counsel also
submitted that the respondent bank is willing to regularise the loan if
the petitioner pays an amount of Rs.5,00,000/- within a period of two
weeks from today and the balance overdue amount is paid in 12
equated monthly instalments.
5. Considering the facts and circumstances of the case, I am
of the view that the this writ petition itself can be disposed of,
permitting the petitioner to pay the entire overdue amount of
Rs.16,40,183/- in instalments and to have the loan regularised.
6. Accordingly, there will be a direction to the respondent-
Bank to accept repayment of the entire overdue amount of
Rs.16,40,183/- along with bank charges and to regularise the loan of
the petitioner on the following conditions:
(i) The petitioner shall pay an amount of
Rs.5,00,000/- (Rupees five lakh only) on or before
19.05.2022.
(ii) The balance overdue amount of
Rs.11,40,183/- (Rupees eleven lakhs forty thousand
one hundred and eightythree only) along with bank
charges shall be repaid in 12 equated monthly
instalments starting from 01.06.2022.
(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 of the
instalments, 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 initiated
against the petitioner shall be kept in abeyance.
The writ petition is disposed of.
Sd/-
VIJU ABRAHAM
JUDGE
cks
APPENDIX OF WP(C) 14304/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE BANK PASS BOOK WITH
RESPECT TO HOME LOAN A/C
NO.362400NC00002527.
Exhibit P2 TRUE COPY OF THE BANK PASS BOOK WITH
RESPECT TO OVERDRAFT A/C
NO.3624009900000638.
Exhibit P3 TRUE COPY OF THE MEDICAL RECORDS OF
PETITIONER'S DAUGHTER MRS.PARVATHY B.S.
Exhibit P4 TRUE COPY OF THE ORDER DATED 12/12/2019
IN M.C.NO.1495/2019 ON THE FILES OF THE
HON'BLE CHIEF JUDICIAL MAGISTRATE COURT,
THIRUVANANTHAPURAM.
Exhibit P5 TRUE COPY OF THE PROFORMA OF OFFER LETTER
FOR ONE TIME SETTLEMENT.
Exhibit P6 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSION MS.PREETHA S.NAIR.
