Emmanuval Joseph vs The Authorised Officer
2022 Latest Caselaw 1265 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. 2970 OF 2022

PETITIONER:

            EMMANUVAL JOSEPH
            AGED 32 YEARS, S/O.MICHEAL,
            MANIKOLI PARAMBU HOUSE,
            EDATHALA P.O., MUTHIRAKKATTUMUGAL,
            ALUVA NAVAL ARMAMENT DEPOT,
            ALUVA, ERNAKULAM, PIN - 683 563.
            BY ADV RAJESH CHAKYAT


RESPONDENTS:

    1       THE AUTHORISED OFFICER
            AXIS BANK LIMITED,
            RETAIL ASSETS CENTER, 15TH FLOOR,
            CHICAGO PLAZA, RAJAJI ROAD,
            ERNAKULAM, PIN - 682 035.
    2       THE AXIS BANK LIMITED
            RETAIL ASSETS CENTER, 15TH FLOOR,
            CHICAGO PLAZA, RAJAJI ROAD,
            ERNAKULAM, PIN - 682 035
            REPRESENTED BY ITS BRANCH MANAGER.


            BY ADV.SAJU.N.A.



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   28.01.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.2970/22
                                         -:2:-

                         BECHU KURIAN THOMAS, J.
                         --------------------------------
                          W.P.(C) No.2970 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.1,67,627/-. 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.Rajesh Chakyat, the learned counsel for the

petitioner as well as Sri.Saju N.A., the learned counsel for the

respondents.

5. Having regard to the circumstances of the case and the

situation now prevailing, apart from the submissions made as W.P.(C) No.2970/22

recorded above, I am of the view that the petitioner can be granted an

opportunity to repay the overdue amount in five 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.1,67,627/-

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.1,67,627/- shall be repaid in five equated monthly instalments.

(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 vps W.P.(C) No.2970/22

APPENDIX OF WP(C) 2970/2022

PETITIONER'S/S' EXHIBITS EXHIBIT P1 A TRUE COPY OF THE NOTICE DATED 14/01/2022 ISSUED BY THE 1ST RESPONDENT. EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 17/01/2022 BY THE PETITIONER.

EXHIBIT P3 A TRUE COPY OF THE POSTAL RECEIPT DATED 18/01/2022.