Sumesh V. S vs The Authorised Officer
2022 Latest Caselaw 364 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    THURSDAY, THE 13TH DAY OF JANUARY 2022 / 23RD POUSHA, 1943
                        WP(C) NO. 1193 OF 2022
PETITIONER :

          SUMESH V. S.,
          AGED 53 YEARS,
          S/O.SREEDHARAN, VANIYATHUMKANDI HOUSE,
          VALLUVADI POST, KUPPADI VILLAGE,
          S.BATHERY TALUK, WAYANAD - 673 121.

          BY ADVS.
          M.R.SASITH
          M.R.SARIN
          NEELANJANA NAIR
          RAJITHA V.K
          R.K.CHIRUTHA
          RANJITH E N
          PREETI S.


RESPONDENT :

          THE AUTHORISED OFFICER,
          THE STATE BANK OF INDIA, A.E.BUILDING, MYSORE ROAD,
          S.BATHERY POST, WAYANAD, PIN - 613 121.

          BY ADV.G.G.MANOJ


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 1193 OF 2022
                                        2


                       BECHU KURIAN THOMAS, J.
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                        W.P.(C) No.1193 of 2022
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                 Dated this the 13th 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.2,88,991/-. 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.M.R.Sasith Panicker, learned counsel for

the petitioner as well as Sri.G.G.Manoj, the learned 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 WP(C) NO. 1193 OF 2022

to repay the overdue amount in '8' 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.2,88,991/- 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.2,88,991/- shall be repaid in '8' equated monthly instalments.

(ii) The first instalment shall be paid on or before 15.02.2022.

(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 RKM WP(C) NO. 1193 OF 2022

APPENDIX OF WP(C) 1193/2022

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF NOTICE ISSUED BY ADVOCATE COMMISSIONER CMP NO.5516/2019 BEFORE THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KALPETTA FILED BY THE RESPONDENT.