Vijayalakshmi vs Punjab National Bank
2022 Latest Caselaw 1795 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. 5149 OF 2022
PETITIONER:

          VIJAYALAKSHMI, AGED 50 YEARS
          W/O VINAYAN T MENON,
          KAIPPARA HOUSE, CHELOOR,
          IRINJALAKUDA POST,
          THRISSUR, PIN - 680 121
          BY ADVS.
          SADCHITH.P.KURUP
          VINOD JABAR
          C.P.ANIL RAJ


RESPONDENTS:

    1     PUNJAB NATIONAL BANK
          IRINJALAKUDA BRANCH,
          EKK COMPLEX, TANA,
          IRINJALAKUDA, THRISSUR,
          REP BY ITS MANAGER, PIN - 680121
    2     THE CHIEF MANAGER AND AUTHORISED OFFICER
          PUNJAB NATIONAL BANK, SASTRA CENTRE,
          BROADWAY NOTH END ERNAKULAM, PIN - 682031.
          ADV.SANTHEEP ANKARATH, SC



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. 5149 OF 2022
                                           2



                     BECHU KURIAN THOMAS, J
                   ..............................................
                       W.P.(C) No.5149 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.10,13,000/-. 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. 5149 OF 2022

repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Sri.Sadchith P.Kurup, the learned

counsel for the petitioner as well as Sri.Santheep

Ankarath, learned Standing Counsel for the

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 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.10,13,000/- along with bank

charges from the petitioner and to regularise the WP(C) NO. 5149 OF 2022

loan account of the petitioner on the following

conditions:

(i). The overdue amount of Rs.10,13,000/- 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. 5149 OF 2022

APPENDIX OF WP(C) 5149/2022

PETITIONER EXHIBITS

Exhibit P 1 TRUE COPY OF POSSESSION NOTICE DATED 17/9/2021 ISSUED TO THE RESPONDENT

RESPONDENTS EXHIBITS : NIL

TRUE COPY