Ravi N.C vs The Branch Manager
2022 Latest Caselaw 9894 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         WEDNESDAY, THE 31ST DAY OF AUGUST 2022 / 9TH BHADRA, 1944
                             WP(C) NO. 26753 OF 2022
PETITIONER:

     1        RAVI N.C
              AGED 50 YEARS
              S/O CHATHAN ,AGED 50 ,NAMBIDIPARAMBIL HOUSE, KATTAKAMBAL
              P.O, RAMAPURAM , CHAVAKAD TALUK ,
              THRISSUR DT, PIN - 680544
              BY ADVS.
              M.R.REENA
              P.S.SUJETH

RESPONDENTS:

     1        THE BRANCH MANAGER
              THE KERALA STATE CO-OPERATIVE BANK ,
              PAZHANJI BRANCH , THRISSUR DT, PIN - 682542
     2        THE AUTHORISED OFFICER
              THE KERALA STATE CO-OPERATIVE BANK LTD.
              HEAD OFFICE , SAHAKARANA SAPTHATHI MANDIRAM , TUDA ROAD ,
              KOVILAKATHUPADAM ,THIRUVAMBADI P.O,
              THRISSUR DT., PIN - 680022
              BY ADV. P.C.SASIDHARAN

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
31.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC NO.26753 OF 2022
                                   2




                            JUDGMENT

Dated this the 31st day of August, 2022

The petitioner has approached this Court challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest

Act, for recovery of the amounts due from the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

overdue amount in instalments and to obtain

regularisation of the loan account.

3. It was submitted on behalf of the respondent

bank that the petitioner committed default in repayment

and the overdue amount is Rs.2,47,322/- (Rupees Two

lakh forty seven thousand three hundred twenty two

only) as on 22.08.2022. It was further submitted that

though proceedings for recovery have been initiated, as a

matter of indulgence, the respondent bank is willing to

accept repayment of the overdue amount in limited

instalments and regularise the loan account. WPC NO.26753 OF 2022

4. I have heard Adv. M.R. Reena, learned counsel

for the petitioner as well as Adv.P.C. Sasidharan, the

learned counsel for the respondent.

5. Having regard to the circumstances of the case

and the situation now prevailing, apart from the

submissions made as recorded above, I am of the view

that the petitioner can be granted an opportunity to

repay the overdue amount in ten (10) instalments and

thereafter, if the amount so directed is repaid within the

time as directed above, to have the loan account

regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

overdue amount of Rs.2,47,322/- (Rupees Two lakh forty

seven thousand three hundred twenty two only) along

with bank charges from the petitioner and regularise the

loan account of the petitioner in the following manner:-

(i) The overdue amount of Rs.2,47,322/-

(Rupees Two lakh forty seven thousand three

hundred twenty two only) along with any accrued

interest and charges shall be repaid in ten (10) WPC NO.26753 OF 2022

equated monthly instalments;

(ii) The first instalment shall be paid on or before

16.09.2022 and the subsequent instalments shall

be paid on or before the 16 th day of each

succeeding month;

(iii) Petitioner shall continue to pay the regular

EMI's/instalments along with the instalments

directed above;

(iv) In the event of default of any one

instalment, the respondent bank shall be entitled

to proceed in accordance with law;

(v) In order to enable the petitioner to repay the

entire amounts, all coercive proceedings shall be

kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE SKP/31-08 WPC NO.26753 OF 2022

APPENDIX OF WP(C) 26753/2022

PETITIONER'S EXHIBITS:

EXHIBIT1 NOTICE FOR FURTHER PROCEEDINGS DATED 06-07-2022 EXHIBIT2 REPRESENTATION DATED 27-08-2022 RESPONDENTS' EXHIBITS: NIL

TRUE COPY

P.A.TO JUDGE