Sabil T P vs Nilambur Urban Co-Op. Bank
2022 Latest Caselaw 1742 Ker

              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. 5116 OF 2022
PETITIONER:

          SABIL T P
          AGED 37 YEARS
          S/O.HUSSAIN T.P.,
          RESIDING AT THANDUPARAKKAL (H)
          MUMPAD P.O.,
          MALAPPURAM DISTRICT - 676 542.

          BY ADV BINDU SREEKUMAR


RESPONDENT:

          NILAMBUR URBAN CO-OP. BANK
          REPRESENTED BY ASSISTANT GENERAL MANAGER,
          (AUTHORISED OFFICER)
          NILAMBUR CO-OPERATIVE URBAN BANK,
          NILAMBUR - 676 542.



          P.J.DEVAPRASANTH SC. NILAMBUR CO.OP SOCIETY



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. 5116 OF 2022
                                           2



                     BECHU KURIAN THOMAS, J
                   ..............................................
                       W.P.(C) No.5116 of 2022
                      .....................................
               Dated this the 16 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 overdue amount in instalments and to obtain

regularisation of the loan account.

3. It was submitted on behalf of the respondent-Bank

that petitioner committed default in repayment and

the overdue amount is Rs.10,95,869/-. It was

further submitted that though proceedings for

recovery have been initiated, as a matter of

indulgence, the respondent Bank is willing to accept WP(C) NO. 5116 OF 2022

repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Sri.Bindu Sreekumar, the learned

counsel for the petitioner as well as

Sri.P.J.Devaprasanth, 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 recorded above, I am of the

view that the petitioner can be granted an

opportunity to repay the overdue amount in '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.10,95,869/- along with bank

charges from the petitioner and to regularise the WP(C) NO. 5116 OF 2022

loan account of the petitioner on the following

conditions:

(i). The overdue amount of Rs.10,95,869/- shall be

repaid in '10' 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 against the petitioner

shall be kept in abeyance.

The writ petition is disposed of.

Sd/-

BECHU KURIAN THOMAS JUDGE AMV/16/02//2022 WP(C) NO. 5116 OF 2022

APPENDIX

PETITIONERS EXHIBITS :

EXT.P1 TRUE COPY OF THE POSSESSION NOTICE DATED ON 24.01.22 UNDER SARFAESI ACT ISSUED BY THE RESPONDENT BANK. EXT.P2 COPY OF THE RERESENTATION DATED 07.02.2022 SENT BY THE PETITIONER

RESPONDENTS EXHIBITS : NIL

TRUE COPY