Metro Aggregates And Sand India ... vs City Union Bank Ltd
2022 Latest Caselaw 4853 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
                       W.P.(C) NO.14158 OF 2022
PETITIONERS:

    1       METRO AGGREGATES AND SAND INDIA PVT LTD.,
            REGISTERED OFFICE AT PONNURUNNI,
            VYTTILA P.O, ERNAKULAM-682 019,
            REPRESENTED BY ITS DIRECTOR, P.J. JACOB.

    2       P.J. JACOB,
            AGED 55 YEARS, S/O. JOSEPH,
            PARAMBATHUSSERY,
            ALINCHUVADU, EDAPALLY P.O, COCHIN-682 024.

            BY ADVS.
            JOMY GEORGE
            R.PADMARAJ
            M.J.BENNY
            DEEPAK MOHAN
            R.AJITH KUMAR [V.K.EDOM]
            CHITRA N. DAS
            RISHAB S.


RESPONDENTS:

    1       CITY UNION BANK LTD.,
            NARAYANA, NO. 24-B, GANDHI NAGAR,
            KUMBAKONAM, TAMILNADU-612 001.

    2       AUTHORIZED OFFICER,
            CREDIT RECOVERY AND MANAGEMENT DEPARTMENT,
            CITY UNION BANK LTD, NARAYANA, NO. 24-B,
            GANDHI NAGAR, KUMBAKONAM, TAMILNADU-612 001.

            ADV. DEEPAK JOY K.

            ADV. THOMAS T. VARGHESE

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                                  -2-
W.P.(C) NO.14158 OF 2022


                            JUDGMENT

The petitioner had availed a loan from the respondent

Bank for its business purpose.

2. The limited prayer of the petitioner in this writ

petition is to grant instalment facility to pay the outstanding

amounts and to regularise the loan account.

3. The learned Standing Counsel for the respondent

Bank, on instructions, submits that the outstanding amount as

on today is Rs.4,65,18,706/-. The learned Counsel also objects

to the grant of any instalment facility to the petitioner.

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 instalment facility to the

petitioner to wipe off the liability due to the respondent bank.

5. In the said circumstances this writ petition is

disposed of permitting the petitioner to clear off the entire

liability of Rs.4,65,18,706/- due to the Bank as follows:-

i) The petitioner shall remit an amount of Rs.25,00,000/- (Rupees twenty five lakhs only) within one week from today.

ii) The petitioner shall also remit a further amount of

W.P.(C) NO.14158 OF 2022

Rs.25,00,000/- within three months from today.

iii) The balance amount due to the Bank will be remitted in 6 equal monthly instalments.

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

committed in paying the instalments at any time, the

petitioner will lose the benefit of this order and the

respondent bank will be at liberty to proceed against the

petitioner on the basis of the recovery proceedings already

initiated.

The writ petition is disposed of.

Sd/-

MOHAMMED NIAS C.P.

JUDGE bpr

W.P.(C) NO.14158 OF 2022

APPENDIX

PETITIONERS' EXHIBITS

EXHIBIT P1 TRUE COPY OF QUARRYING LEASE DEED DATED 22.09.2008.

EXHIBIT P2 TRUE COPY OF THE JUDGMENT DATED 10.11.2021 IN WP(C) NO. 24774/2021 OF THIS HON'BLE COURT.

EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 11.11.2021 ISSUED BY THE 2ND RESPONDENT.

EXHIBIT P4 TRUE COPY OF THE WHAT'S APP MESSAGE DATED 18.03.2022 & 19.03.2022 SENT BY THE 1ST RESPONDENT TO THE GENERAL MANAGER OF THE 1ST PETITIONER.

EXHIBIT P5 TRUE COPY OF THE NOTICE DATED 16.03.2022 PUBLISHED UNDER SECTION 13(4) OF THE SARFAESI ACT, 2002 OF MANGALAM DAILY.

EXHIBIT P6 TRUE COPY OF THE NOTICE DATED 16.03.2022 ISSUED BY THE 2ND RESPONDENT.