Kerala High Court
Sudheesh Kumar K.P vs Csb Bank Ltd on 15 February, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
TUESDAY, THE 15TH DAY OF FEBRUARY 2022 / 26TH MAGHA, 1943
OP (DRT) NO. 128 OF 2022
AGAINST THE ORDER/JUDGMENT IN OA 207/2021 OF DEBT RECOVERY
TRIBUNAL, ERNAKULAM
PETITIONER:
SUDHEESH KUMAR K.P.
AGED 46 YEARS
S/O.RAMACHANDRAN NAIR,
MUDAPPILASSERI HOUSE,
AZHINILAM, FAROOQUE COLLEGE,
KOZHIKODE DISTRICT, PIN - 673 632.
BY ADVS.
SAJEEVAN KURUKKUTTIYULLATHIL
VISHNU PRABHAKAR V.S.
RESPONDENTS:
1 CSB BANK LTD.
FORMERLY THE CATHOLIC SYRIAN BANK LTD.,
BRANCH AT FEROKE, PIN - 673 631,
KOZHIKODE DISTRICT,
REPRESENTED BY ITS BRANCH MANAGER.
2 AUTHORISED OFFICER
CSB BANK LTD., ZONAL OFFICE, NORTH KERALA ZONE,
GROUND FLOOR, C.M.MATHEW & BROTHERS ARCADE,
CHAKKORATHUKULAM, KOZHIKODE - 673 006.
ADV.C.A.JOY, SC
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 15.02.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
OP (DRT) NO. 128 OF 2022
2
BECHU KURIAN THOMAS, J
..............................................
O.P.(DRT) No.128 of 2022
.....................................
Dated this the 15 th day of February, 2022
JUDGMENT
Petitioner as borrower from the respondent-Bank, has
committed default in repayment. Consequently,
proceedings have been initiated by the Bank for recovery
of the amounts due.
2. During the course of the hearing, petitioner has confined
the relief to an opportunity for repaying the outstanding
amount in instalments.
3. It was submitted on behalf of the respondent-Bank that
the petitioner committed default in repayment and the
outstanding amount as on 31.01.2022 is Rs.65,61,250/-.
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 outstanding amount in limited instalments.
4. I have heard Sri.Sajeevan Kurukkuttiyullathil, the
OP (DRT) NO. 128 OF 2022
learned counsel for the petitioner as well as Sri.C.A.Joy,
the learned Standing Counsel for respondents.
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
outstanding amount in '17' instalments.
6. Accordingly, there will be a direction to the respondent-
Bank to accept repayment of the entire outstanding
amount of Rs.65,61,250/- along with bank charges from
the petitioner on the following conditions:
(i). The outstanding amount of Rs.65,61,250 /-
shall be repaid in '17' equated monthly
instalments, on condition that an amount of
Rs.5,00,000/- (Rupees five lakhs only) shall be
paid by the petitioner on or before 15.03.2022;
and a further sum of Rs.5,00,000/- (Rupees five
lakhs only) to be paid on or before 15.04.2022.
(ii). If the said amounts are paid as directed
above, the petitioner will be entitled to clear the
OP (DRT) NO. 128 OF 2022
balance amount, in ''15' equated monthly
instalments, commencing from 15.05.2022.
(iii). In the event of default of any one
instalment, the respondent-Bank shall be entitled
to proceed in accordance with law.
(iv) In order to enable the petitioner to repay the
entire amounts, all coercive proceedings shall be
kept in abeyance.
The original petition is disposed of.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AMV/15/02//2022
OP (DRT) NO. 128 OF 2022
APPENDIX OF OP (DRT) 128/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE MEMORANDUM OF O.A.NO.207
OF 2021 ON THE FILES OF DRT-I, ERNAKULAM.
Exhibit P2 TRUE COPY OF THE LETTER DATED 24/12/2021
BY THE 2ND RESPONDENT WITH REGARD TO THE
PROCEEDINGS UNDER SARFAESI ACT.
Exhibit P3 TRUE COPY OF THE JUDGMENT INDUSIND BANK
LTD VS. DEVA TOOLS AND FORGINS (2005 BC
97 DRAT)
RESPONDENTS EXHIBITS : NIL
TRUE COPY
