Anil Babu P vs Icici Bank
2022 Latest Caselaw 4848 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. 30121 OF 2021
PETITIONER:

         ANIL BABU P
         AGED 45 YEARS
         S/O.APPU,
         PALLIKKARA KOZHAKKOTTUR,
         AREEKODE, MALAPPURAM DISTRICT,
         PIN-673639.
         BY ADV K.RAKESH


RESPONDENT:

         ICICI BANK
         PEEKEYS ARCADE,
         NEAR BUS STAND, DOWN HILL, MALAPPURAM,
         MALAPPURAM DISTRICT, PIN-676519,
         REPRESENTED BY ITS AUTHORIZED OFFICER.



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.30121/2021

                                              2



                             MOHAMMED NIAS C.P., J
                             .......................................
                             W.P.(C) No.30121 of 2021
                          ................................................
                        Dated this the 29th day of April, 2022

                                        JUDGMENT

The petitioner has availed a credit facility to the tune of

Rs.4,76,000/- 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.1,40,402/-.

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 '5' equal monthly instalments to the

petitioner to wipe off the overdue amounts due to the

respondent bank.

WP(C) NO.30121/2021

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

permitting the petitioner to clear off the overdue amount of

Rs.1,40,402/- along with bank charges in '5' equal monthly

instalments, commencing from 01.06.2022 and the

remaining instalments shall be paid on or before the 1 st

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 consecutive defaults,

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. 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.30121/2021

APPENDIX OF WP(C) 30121/2021

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT UNDER SECTION 13(2) SARFAESI ACT DATED 30.11.2021.

Exhibit P2 TRUE COPY OF THE LOAN ACCOUNT STATEMENT OF THE PETITIONER IN THE RESPONDENT BANK.

RESPONDENTS EXHIBITS : NIL

TRUE COPY