Shaju A. T vs Authorised Officer / Chief ...
2022 Latest Caselaw 6294 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 3RD DAY OF JUNE 2022 / 13TH JYAISHTA, 1944
                        WP(C) NO. 17989 OF 2022
PETITIONER:

            SHAJU A. T.
            AGED 52 YEARS, S/O.BASHEER A.T., A.T.HOUSE,
            PANNIYANKARA AMSOM AND DESOM, GOVERNMENT ARTS COLLEGE,
            KOZHIKODE DISTRICT, PIN- 673 018.

            BY ADVS.
            P.V.ANOOP
            PHIJO PRADEESH PHILIP
            M.P.PRIYESHKUMAR
            NEETHU C.V.



RESPONDENTS:

    1       AUTHORISED OFFICER / CHIEF MANAGER
            BANK OF BARODA, REGIONAL OFFICE, COURT VIEW ARCADE,
            COURT ROAD, KOZHIKODE DISTRICT, PIN - 673 004.

    2       BRANCH MANAGER
            BANK OF BARODA, RAMANATTUKKARA BRANCH, APPLE SQUARE
            BYEPASS ROAD, RAMANATTUKARA CALICUT, KERALA - 673 633.


OTHER PRESENT:

            SMT. R REMA (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.17989/2022                    -2-

                                 JUDGMENT

Petitioner has approached this Court challenging proceedings initiated under

the Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest Act (hereinafter referred to as the Securitisation Act) for recovery

of the amounts due upon two loans availed by the petitioner.

2. During the course of hearing, petitioner has confined the relief to an

opportunity for repaying the outstanding amount in instalments.

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

committed default in repayment and the outstanding amount is Rs.5,54,688/- 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 outstanding amount in limited instalments.

4. I have heard the learned counsel for the petitioner as well as 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 outstanding amount

in ten (10) instalments.

6. Accordingly, there will be a direction to the respondent bank to accept

repayment of the entire outstanding amount of Rs.5,54,688/- along with bank

charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.5,54,688/-together with any accured interest/costs shall be repaid in ten (10) equated monthly instalments.

(ii) The first instalment shall be paid on or before 30-06-2022 and subsequent instalments shall be paid on or before 30 th of every succeeding month.

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(iv) In order to enable the petitioners 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 AMG

APPENDIX OF WP(C) 17989/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE RECEIVED FROM THE ADVOCATE COMMISSIONER DATED 21/05/2022.