J.Alexander vs The Authorized Officer (Under ...
2022 Latest Caselaw 4845 Ker

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                          PRESENT
        THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
 FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
                  WP(C) NO. 14284 OF 2022
PETITIONER:

          J.ALEXANDER
          AGED 55 YEARS
          S/O. JOHN FELIX,
          THARA 103, ISWARYA,
          THAMPURANMUKKU, KUNNUZHI P.O,
          THIRUVANANTHAPURAM 695 001
          BY ADV NAVEEN RADHAKRISHNAN


RESPONDENTS:

    1     THE AUTHORIZED OFFICER (UNDER SARFAESI ACT)
          UNION BANK, THIRUVANANTHAPURAM BRANCH,
          NEW JYOTHI TOWER, S.S KOVIL ROAD P.O,
          THIRUVANANTHAPURAM 695 001
    2     THE BRANCH MANAGER
          UNION BANK, THIRUVANANTHAURAM BRANCH,
          NEW JYOTHI TOWER, S.S KOVIL ROAD P.O,
          THIRUVANANTHAPURAM 695 001
          ADV.A.S.P.KURUP, SC



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
 WP(C) NO.14284/2022

                                             2



                           MOHAMMED NIAS C.P., J
                           .......................................
                           W.P.(C) No.14284 of 2022
                        ................................................
                      Dated this the 29th day of April, 2022

                                      JUDGMENT

The petitioner has availed three different loans from

the respondent bank and due to the difficulties caused

by the pandemic, repayments were not made in time

and the same led to proceedings for recovery against

the petitioner.

2. The limited prayer of the petitioner in this writ

petition is to grant instalment facility to pay the

overdue amounts in instalments and to regularise the

loan account.

3. The learned Standing Counsel for the respondent Bank,

on instructions, submits that the overdue amount is

Rs.15,00,000/-.

4. Taking into account the averments in the writ petition

and after hearing the learned counsel on either side, I

deem it appropriate to grant '8' equal monthly WP(C) NO.14284/2022

instalments to the petitioner to wipe off the overdue

amounts due to the respondent bank.

5. In the said circumstances, this writ petition is disposed

of, permitting the petitioner to clear off the overdue

amount of Rs.15,00,000/- along with bank charges in

'8' equal monthly instalments, commencing from

01.06.2022 and the remaining instalments shall be paid

on or before the 1st day of every succeeding month.

The petitioner will also be liable to pay the applicable

EMI with the accrued interest, if any, continuously

over and above the instalments to pay off the overdue

amounts.

6. It is made clear that, if there are two defaults, at any

time, the petitioner will lose the benefit of this

judgment and the respondent bank will be at liberty to

proceed against the petitioner on the basis of the

recovery proceedings already initiated.

7. The petitioner will also have to comply with the other

formalities of the respondent Bank for renewal of cash WP(C) NO.14284/2022

credit facility.

8. 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/-

MOHAMMED NIAS C.P., JUDGE

AMV/30/04/2022 WP(C) NO.14284/2022

APPENDIX OF WP(C) 14284/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13(2) ISSUED BY THE RESPONDENT BANK 04-01-2022 Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE ISSUED E-AUCTION MODE 4/01/2022 DATED 13-04-2022 Exhibit P3 TRUE COPY OF THE BANK STATEMENT ISSUED FROM THE BANK DATED 30-03-2022

RESPONDENTS EXHIBITS : NIL

TRUE COPY