Kerala High Court
Vijayan.V.P vs Canara Bank on 22 April, 2022
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. 14327 OF 2022
PETITIONER/S:
VIJAYAN.V.P.,
AGED 54 YEARS
S/O.LATE BALAN NAIR, PUTHIYEDUTH HOUSE,
CHANIYAMKADAVU POST, THIRUVALLUR, KOZHIKODE
DISTRICT, PIN-673 541.
BY ADV K.P.RAMACHANDRAN
RESPONDENT/S:
CANARA BANK,
(ERSTWHILE SYNDICATE BANK), REPRESENTED BY ITS
MANAGER AS AUTHORISED OFFICER, HAVING ITS BRANCH
OFFICE AT CHERUVANNUR, D-186, 1ST FLOOR,
THARAVATTATH BUILDING, POST CHERVANNUR, VIA
MEPPAYYUR, CALICUT-673 524.
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. 14327 OF 2022
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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 regularisation 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.6,15,000/- (Rupees six lakh fifteen
thousand only). 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 regularise the loan account.
4. I have heard the learned counsel for the
WP(C) NO. 14327 OF 2022
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petitioner as well as the learned Standing
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 a sum of Rs.1,50,000/-
(Rupees one lakh fifty thousand only) within
three weeks towards overdue amount and the
balance in six 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.6,15,000/- (Rupees
six lakh fifteen thousand only) along with
bank charges from the petitioner in
instalments and regularise the loan account of
the petitioner on the following conditions:
WP(C) NO. 14327 OF 2022
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a)An amount of Rs.1,50,000/- (Rupees one lakh
fifty thousand only) shall be repaid within
three weeks towards overdue amount.
b)The balance overdue amount shall be repaid
in six equated monthly instalments.
c)The first instalment shall be paid on or
before 02.06.2022.
d)Petitioner shall continue to pay the
regular EMIs along with the instalments
directed above.
e)In the event of default of any one
instalment, the respondent bank shall be
entitled to proceed in accordance with law.
f)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/-
VIJU ABRAHAM
JUDGE
bka/22.04.2022
WP(C) NO. 14327 OF 2022
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APPENDIX OF WP(C) 14327/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE PHOTOSTAT COPY OF THE ACCOUNT
STATEMENT DATED 17.03.2022 ISSUED BY
THE RESPONDENT BANK TO THE PETITIONERS
ACCOUNT NUMBER 44127740000202 COVERING
FOR THE PERIOD FROM 24.10.2014 TO
28.02.2022.
Exhibit P2 TRUE PHOTOSTAT COPY OF THE NOTICE OF
TAKING PHYSICAL POSSESSION DATED
14.03.2022 ISSUED BY THE ADVOCATE
COMMISSIONER TO THE PETITIONER UNDER
SARFAESI ACT IN MC NO.151/2019 ON THE
FILES OF THE HON'BLE CHIEF JUDICIAL
MAGISTRATE COURT, KOZHIKODE.
