Anilkumar A vs Dhanalaxmi Bank Ltd
2022 Latest Caselaw 6157 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. 15965 OF 2022
PETITIONER/S:

          ANILKUMAR A.,
          AGED 45 YEARS
          S/O. APPUKUTTAN NADAR,
          LEELA BHAVAN T.C., 65/1350, MARUVILA, VISWANADHAPURAM,
          PUNCHAKKARI, THIRUVALLAM (P.O.), THIRUVANANTHAPURAM 695
          027.
          BY ADVS.
          K.RAJESH KANNAN
          K.NIRMALAN


RESPONDENT/S:

          DHANALAXMI BANK LTD.,
          MANACAUD BRANCH, MANACAUD P.O., THIRUVANANTHAPURAM 695
          009,
          REPRESENTED BY ITS AUTHORIZED OFFICER.
          SRI. NAGARAJ NARAYANAN, SC.
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 15965 OF 2022           2



                              JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioner.

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.3,65,000/- (Rupees three lakhs and

sixty five thousand only) as on 31.05.2022. 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 Adv. Rajesh Kannan, learned counsel

for the petitioner as well as Adv.Nagaraj Narayanan, 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 overdue amount

in fifteen 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.3,65,000/- (Rupees three lakhs and sixty five

thousand only) 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.3,65,000/- (Rupees three lakhs and sixty five thousand only)/- shall be repaid in fifteen equated monthly instalments.

(ii) The first instalment shall be paid on or before 15.06.2022 and the subsequent instalments shall be paid on or before the 20th day of each succeeding month.

(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/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 15965/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 25.4.2022 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER.