Saji M.R vs The Branch Manager
2022 Latest Caselaw 11279 Ker

Citation : 2022 Latest Caselaw 11279 Ker
Judgement Date : 2 December, 2022

Kerala High Court

Saji M.R vs The Branch Manager on 2 December, 2022

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 2ND DAY OF DECEMBER 2022 / 11TH AGRAHAYANA, 1944
                             WP(C) NO. 38342 OF 2022
PETITIONER:

     1        SAJI M.R
              AGED 53 YEARS
              S/O RAMANKUNJACHAN, VADAKKE MARANGATTUPARAMBIL,
              THRIKOTHAMANGALAM PO, KOTTAYAM, PIN - 686011
              BY ADVS.
              DARSAN SOMANATH
              V.PRAMOD

RESPONDENTS:

     1        THE BRANCH MANAGER
              KERALA STATE COOPERATIVE BANK, VAKATHANAM BRANCH,
              NJALIAKUZHY, VAKATHANAM PO, KOTTAYAM, PIN - 686538
     2        THE AUTHORIZED OFFICER
              KERALA STATE CO OPERATIVE BANK,
              REGIONAL OFFICE, CENTRAL JUNCTION,
              KOTTAYAM, PIN - 686001
              ADV. ATHUL SHAJI, STANDING COUNSEL

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
02.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.38342 of 2022
                                            2




                                JUDGMENT

Dated this the 02nd day of December, 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.31,02,991/- (Rupees Thirty one lakh two thousand

nine hundred ninety one only). It was further

submitted that though proceedings for recovery have WPC No.38342 of 2022

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.

4. I have heard Adv.Darsan Somanath, learned

counsel for the petitioner as well as Adv.Athul Shaji,

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 twenty

(20) 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.31,02,991/- (Rupees Thirty

one lakh two thousand nine hundred ninety one only) WPC No.38342 of 2022

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.31,02,991/-

(Rupees Thirty one lakh two thousand nine

hundred ninety one only) along with any

accrued interest and charges shall be

repaid in twenty (20) equated monthly

instalments;

(ii) The first instalment shall be paid on or

before 30.12.2022 and the subsequent

installments shall be paid on or before the

last working day of each succeeding month;