Shafeer.B.A vs Icici Bank Ltd
2022 Latest Caselaw 4857 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.14121 OF 2022
PETITIONER:

            SHAFEER.B.A.,
            AGED 35 YEARS, S/O.BASHEER MOHAMMED KANNU,
            RESIDING AT R.S. NO.142/2-18, 142/6,
            KAITHAKONAM HOUSE,
            KAITHAKONAM, KATTAKKADA P.O.,
            VEERANKAVU, KATTAKADA TALUK,
            THIRUVANANTHAPURAM DISTRICT, PIN-695 572.

            BY ADVS.
            J.R.PREM NAVAZ
            SUMEEN S.
            O.MOHAMED BASIL KOYA THANGAL



RESPONDENTS:

    1       ICICI BANK LTD.,
            REGIONAL OFFICE AT ICICI TOWERS,
            MG ROAD, NEAR GPO,
            THIRUVANANTHAPURAM DISTRICT, PIN-695 001
            REPRESENTED BY ITS MANAGER.

    2       AUTHORIZED OFFICER UNDER SARFAESI ACT,
            ICICI BANK LTD., REGIONAL OFFICE AT ICICI TOWERS,
            MG ROAD, NEAR GPO,
            THIRUVANANTHAPURAM DISTRICT, PIN-695 001.

            ADV. PRADEESH CHACKO, STANDING COUNSEL, ICICI

     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.14121 OF 2022


                            JUDGMENT

The petitioner had availed a credit facility from the 1 st

respondent bank for the purchase of a passenger vehicle. Due

to the Covid 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 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.4,17,778/-. 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 liability due to the

respondent bank in 6 equal monthly instalments starting from

W.P.(C) NO.14121 OF 2022

15.05.2022. 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

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.14121 OF 2022

APPENDIX

PETITIONER'S EXHIBITS

EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED 28.12.2021 UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED TO THE PETITIONER.