Mani Murali vs Kerala Bank Ltd
2022 Latest Caselaw 4689 Ker

        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. 14236 OF 2022
PETITIONER:

         MANI MURALI
         AGED 55 YEARS
         W/O. MURALI,
         PADAMADANPARAMBU,
         CHIRAKKAKAM,
         VARAPUZHA P.O.,
         ERNAKULAM-683 517.

         BY ADV N.KRISHNA RAJA MAULI


RESPONDENT:

         KERALA BANK LTD
         REPRESENTED BY ITS MANANGER,
         KOONAMMAVU BRANCH,
         ERNAKULAM-683 518.

         ADV.N.REGHU RAJ, SC



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.14236 of 2022
                                                  2



                               VIJU ABRAHAM, J
                         .......................................
                          W.P.(C) No.14236 of 2022
                      ................................................
                    Dated this the 22 nd day of April, 2022


                                     JUDGMENT

Petitioner availed a housing loan to the tune of

Rs.12 Lakhs from the respondent Bank and the same

has now been defaulted. Ext.P4 is the possession

notice issued under Section 13(4) of the Securitization

and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002.

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.N.Krishna Raja Mauli, the learned

counsel for the petitioner as well as Sri.N.Reghu Raj,

the learned Standing Counsel for the respondent.

4. The learned Standing Counsel, upon instructions,

submitted that the total overdue amount is

Rs.4,96,599/- and the respondent Bank is willing to WP(C) NO.14236 of 2022

accept repayment of the overdue amount in limited

instalments and to regularise the loan account.

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.4,96,599/- in '12' equated

monthly instalments and 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.4,96,599/- along with bank

charges and to regularise the loan account of the

petitioner on the following conditions:

(i). The overdue amount of Rs.4,96,599/- along with bank

charges shall be repaid in '12' equated monthly instalments.

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

16.05.2022 and the remaining instalments shall be paid on

or before the 16th day of every succeeding month.

(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 WP(C) NO.14236 of 2022

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

AMV/22/04/2022 WP(C) NO.14236 of 2022

APPENDIX OF WP(C) 14236/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE BANK DATED 18.09.2021 Exhibit P2 TRUE COPY OF THE LETTER SENT BY THE PETITIONER TO THE DEPUTY COLLECTOR DATED 30.12.2021 Exhibit P3 TRUE COPY OF THE LETTER SENT BY THE JOINT REGISTRAR, CO-OPERATIVE SOCIETY (GENERAL), ERNAKULAM TO THE DEPUTY GENERAL MANAGER, CREDIT PROCESSING CENTRE, KERALA STATE CO- OPERATIVE BANK, ERNAKULAM DATED 15.02.2021 Exhibit P4 TRUE COPY OF THE NOTICE ISSUED BY THE BANK DATED 21.03.2022

RESPONDENTS EXHIBITS : NIL

TRUE COPY