Kerala High Court
Shyni Sathyan vs The Authorized Officer, Kerala ... on 16 February, 2022
WP(C) NO. 5201 OF 2022
1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
WEDNESDAY, THE 16TH DAY OF FEBRUARY 2022 / 27TH MAGHA, 1943
WP(C) NO. 5201 OF 2022
PETITIONER/S:
SHYNI SATHYAN,
AGED 38 YEARS
W/O.SATHYAN, POOKKOTE HOUSE, ANNASSERY P.O., KOZHIKODE-673
317.
BY ADVS.
A.CHANDRA BABU
C.MADHUSUDHANAN
RESPONDENT/S:
1 THE AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD.
(KERALA BANK),
REGIONAL OFFICE, KALLAI ROAD, CHALAPPURAM P.O., KOZHIKODE-
673 002.
2 THE MANAGER, KOZHIKODE DISTRICT CO OPERATIVE BANK,
WEST HILL, WEST HILL BRANCH, KOZHIKODE-673 014.
OTHER PRESENT:
ADV.P.C.SASIDHARAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 5201 OF 2022
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BECHU KURIAN THOMAS, J.
========================
W.P.(C)No.5201 of 2022
------------------------------------------------
Dated this the 16th 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 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.7,91,439/-. 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.
4. I have heard Sri.Nemom Chandra Babu, the learned
counsel for the petitioner as well as Sri.P.C.Sasidharan, learned
Standing Counsel for the respondent.
5. Having regard to the circumstances of the case and the
situation now prevailing, apart from the submissions made as
WP(C) NO. 5201 OF 2022
recorded above, I am of the view that the petitioner can be granted
an opportunity to repay the overdue amount in '12' 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.7,91,439/- along with bank charges from the petitioner and to
regularise the loan account of the petitioner on the following
conditions:
(i). The overdue amount of Rs.7,91,439/- shall be repaid in '12'
equated monthly instalments.
(ii). The first instalment shall be paid on or before 16.03.2022.
(iii). Petitioner shall continue to pay the regular EMI's 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.
BECHU KURIAN THOMAS
JUDGE
jm/
WP(C) NO. 5201 OF 2022
APPENDIX OF WP(C) 5201/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE RECEIPT DATED 31.01.2022
ISSUED BY THE 1ST RESPONDENT.
Exhibit P2 TRUE COPY OF THE NOTICE DATED 01.02.2022 ISSUED
BY THE 1ST RESPONDENT.
