Harikumar vs The Branch Manager
2022 Latest Caselaw 4737 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
              THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
     TUESDAY, THE 26TH DAY OF APRIL 2022 / 6TH VAISAKHA, 1944
                       W.P.(C) NO.14179 OF 2022
PETITIONER:

          HARIKUMAR,
          AGED 50 YEARS, S/O. LATE KARTHIKEYAN,
          CHANGAYIL VADAKKATHIL,
          MUTHUKULAM, 690 506.

          BY ADVS.R.SUNIL KUMAR
                  A.SALINI LAL



RESPONDENTS:

    1     THE BRANCH MANAGER,
          HARIPPAD BRANCH,
          DHANLAXMI BANK LIMITED,
          MADHAVA JUNCTION, HARIPPAD-690 514.

    2     THE AUTHORISED OFFICER,
          DHANLAXMI BANK LIMITED,
          MADHAVA JUNCTION, HARIPPAD-690 514.

          ADV. C.K. KARUNAKARAN, STANDING COUNSEL, DHANLAXMI BANK

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                                      -2-
W.P.(C) NO.14179 OF 2022


                                 JUDGMENT

The petitioner is challenging the recovery proceedings

initiated against him under the Securitisation and

Reconstruction of Financial Assests and Enforcement of

Security Interest Act, 2002 (SARFAESI Act). The petitioner

has availed a credit facility from the respondent Bank and

consequent to the default committed by the petitioner in

repaying the amount, the said account is declared as NPA.

Accordingly, recovery proceedings have been initiated which

is impugned in this writ petition.

2. The learned counsel appearing for the Bank

submits that as on date, an amount of Rs.3,00,000/- is in

arrears towards instalments. It is submitted by the learned

counsel for the Bank upon instructions that they are

amenable for granting an opportunity to the petitioner to

regularise the loan account by paying the entire instalment

overdue along with interest in reasonable monthly

instalments.

In such circumstances, this writ petition is disposed of

granting an opportunity to the petitioner to regularise the

W.P.(C) NO.14179 OF 2022

loan account by paying the instalment overdue as mentioned

above along with interest due and bank charges thereon in 8

equal monthly instalments commencing from 15th May, 2022

onwards. The subsequent instalments shall be paid by the

petitioner on 15th day of every month. Along with the

aforesaid payment, regular monthly instalment shall also be

paid. In case of default on the part of the petitioner in

payment of any of the instalments including regular monthly

instalments, the aforesaid facility shall stand cancelled, upon

which the Bank shall be at liberty to proceed with the

recovery proceedings. Subject to the above direction, the

recovery proceedings against the petitioner is directed to be

kept in abeyance.

Sd/-

ZIYAD RAHMAN A.A.

JUDGE bpr

W.P.(C) NO.14179 OF 2022

APPENDIX PETITIONER'S EXHIBITS

EXHIBIT P1 COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER.

EXHIBIT P2 COPY OF THE ACCOUNT STATEMENT OF PETITIONER.