Visal E.Vasudev vs The South Indian Bank
2022 Latest Caselaw 4876 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. 14874 OF 2022
PETITIONER:

             VISAL E.VASUDEV.,
             AGED 36 YEARS
             S/O. VASUDEVAN E.K.,
             ERAVIMANGALATH HOUSE,
             ERAVIMANGALAM P.O., NADATHARA,
             KOZHUKKULLI, THRISSUR 680 751.
             BY ADV E.V.MOLY


RESPONDENT:

             THE SOUTH INDIAN BANK
             REGIONAL OFFICE THRISSUR -SIB PLATINUM JUBILEE
             BUILDING IST FLOOR, AYYNTHOLE, THRISSUR 680 003,
             REP. BY ITS AUTHORIZED OFFICER.


             BY SRI.SUNIL SHANKAR, 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.14874 of 2022
                                  2

                     MOHAMMED NIAS. C.P.,J
                  ------------------------
                    WP(C) No. 14874 of 2022
                  ------------------------
                Dated this the 29th day of April, 2022


                               JUDGMENT

The petitioner had availed a loan of Rs.11 lakh from the

respondent bank in the year 2018 by creating mortgage of

immovable property having an extent of 1.84 Ares of land and

building situated in Old Survey No.420/4, Re.Survey No.187/9

in Nadathara Village , Thrissur District . Due to the difficulties

caused, 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 and to regularise the loan account.

3. The learned Standing Counsel for the respondent

Bank, on instructions, submits that the outstanding overdue as

on today is Rs.1,20,837/-.

4. Taking into account the averments in the writ

petition and after hearing the learned counsel on either side, I WP(C)No.14874 of 2022

deem it appropriate to grant 6 equal monthly instalment facility

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

amounts due to the respondent bank in 6 equal monthly

instalments starting from 25.05.2022. 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

dlK 29.4.2022 WP(C)No.14874 of 2022

APPENDIX OF WP(C) 14874/2022

PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 24.01.2022 RECEIVED BY THE PETITIONER.

Exhibit P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED 04.04.2022 RECEIVED BY THE PETITIONER.