V.P.Muneer vs Kerala Bank (Kerala State ...
2022 Latest Caselaw 1197 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
           THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
        FRIDAY, THE 28TH DAY OF JANUARY 2022 / 8TH MAGHA, 1943
                        WP(C) NO. 2849 OF 2022
PETITIONER:

            V.P.MUNEER
            AGED 45 YEARS
            S/O.M.P.MUHAMMED KUNHI, VAYALPATH PUTHIYA PURAYIL,
            ADUKKAM, SREEKANDAPURAM P.O., KANNUR DISTRICT, PIN -
            670 631.
            BY ADVS.
            V.T.MADHAVANUNNI
            V.A.SATHEESH
            ANAND V.S


RESPONDENTS:

    1       KERALA BANK (KERALA STATE CO-OPERATIVE BANK)
            SREEKANDAPURAM EVENING BRANCH, SREEKANDAPURAM P.O.,
            KANNUR DISTRICT, PIN - 670 631, REPRESENTED BY THE
            BRANCH MANAGER.
    2       AUTHORISED OFFICER
            UNDER SARFAESI ACT 2002, KERALA STATE COOPERATIVE BANK,
            KANNUR EGIONAL OFFICE, KANNUR DISTRICT, PIN - 670 001.
OTHER PRESENT:

            ADV.M.SASINDRAN-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 2849 OF 2022
                              -:2:-


                BECHU KURIAN THOMAS, J.
            -----------------------------------------
                 W.P.(C) No. 2849 of 2022
            ----------------------------------------
          Dated this the 28th day of January, 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 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.13,13,948/-. It was further submitted

that though proceedings for recovery have been initiated, as

a matter of indulgence, the respondent bank is willing to WP(C) NO. 2849 OF 2022

accept repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Sri.V.T.Madhavan Unni, learned

counsel for the petitioner as well as Sri.M.Sasindran, the

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 '15' 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.13,13,948/- along with bank charges from the

petitioner and regularise the loan account of the petitioner

on the following conditions:

(i) The overdue amount of Rs.13,13,948/- shall be repaid in '15' equated monthly instalments. WP(C) NO. 2849 OF 2022

(ii) The first instalment shall be paid on or before 28/02/2022.

(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.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 2849 OF 2022

APPENDIX OF WP(C) 2849/2022

PETITIONER'S EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 28/12/2020 ISSUED TO THE PETITIONER. Exhibit P2 A TRUE COPY OF THE NOTICE DATED 22/1/22 ISSUED BY ADVOCATE COMMISSIONER RAJAN.K.K

RESPONDENT'S EXHIBITS :NIL

AJM //TRUE COPY// PA TO JUDGE