Raliya. T vs Idbi Bank
2022 Latest Caselaw 6114 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
             THE HONOURABLE MR. JUSTICE GOPINATH P.
 WEDNESDAY, THE 1ST DAY OF JUNE 2022 / 11TH JYAISHTA, 1944
                     WP(C) NO. 15653 OF 2022
PETITIONER:

            RALIYA. T
            AGED 40 YEARS, W/O ABBAS KS, PULLERY HOUSE,
            PARIYARAM POST, MUTTIL, WAYANAD DISTRICT,
            PIN - 673122
            BY ADVS.
            CHERIAN MATHEW POOTHICOTE
            AJITH VILLY GEORGE


RESPONDENT:

    1       IDBI BANK
            REPRESENTED BY ITS AUTHORISED OFFICER ,
            MUHAMED FIROSE A.S, IDBI BANK LIMITED,
            MANAGER, KALPETTA BUSINESS CENTRE,
            GROUND FLOOR ,KALPETTA BYPASS JUNCTION ,
            WAYANAD, PIN - 673122
    2       RESERVE BANK OF INDIA
            REPRESENTED BY ITS GOVERNOR
            6, SANSAD MARG, SANSAD MARG AREA,
            NEW DELHI, DELHI , PIN - 110001
            BY ADVS.
            DEEPU THANKAN
            UMMUL FIDA
            LAKSHMI SREEDHAR
            R.RAJANANDINI MENON
            SHAHNAS K.P



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   01.06.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.15653/2022
                                    -:2:-

                              JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due upon a loan availed by the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

outstanding amount in installments.

3. It was submitted on behalf of the respondent bank that

the petitioner committed default in repayment and the

outstanding amount is Rs.22,23,767/- (Rupees Twenty Two

Lakhs Twenty Three Thousand Seven Hundred and Sixty

Seven Only). 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 outstanding amount in limited

installments.

W.P.(C) No.15653/2022

4. I have heard Adv.Cherian Mathew, learned counsel

for the petitioner as well as Adv.Deepu Thankan, 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 to repay the

outstanding amount in 10 installments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.22,23,767/- (Rupees Twenty Two

Lakhs Twenty Three Thousand Seven Hundred and Sixty

Seven Only) along with bank charges from the petitioner on

the following conditions:

(i) The outstanding amount of Rs.22,23,767/- (Rupees

Twenty Two Lakhs Twenty Three Thousand Seven Hundred

and Sixty Seven Only) together with any accrued

interest/costs shall be repaid in 10 equated monthly

installments.

W.P.(C) No.15653/2022

(ii) The first installment shall be paid on or before

30-06-2022. The subsequent installments shall be paid on

or before the last working day of the succeeding months.

(iii) In the event of default of any one installment, the

respondent bank shall be entitled to proceed in accordance

with law.

(iv) 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/-

GOPINATH P.

JUDGE

ats W.P.(C) No.15653/2022

APPENDIX OF WP(C) 15653/2022

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT DATED 21/04/2022