Rajan vs Kerala Gramin Bank
2022 Latest Caselaw 6312 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. 17880 OF 2022
PETITIONER:

            RAJAN,
            AGED 62 YEARS,
            S/O.BALAN, KUNNUMPURATH (H),
            RAJESH BHAVAN,
            KUSAVUR, PALODE, PERINGANMALA, KARIMANCODE,
            TRIVANDRUM, PIN - 695 562.

            BY ADVS.
            SUSHANTH.J.
            PRAMEELA.C.K.
            C.K.PREM RAJ



RESPONDENTS:

    1       KERALA GRAMIN BANK,
            REPRESENTED BY ITS AUTHORIZED OFFICER,
            PALODE BRANCH, TRIVANDRUM, PINCODE - 695 562.

    2       KERALA GRAMIN BANK,
            REPRESENTED BY CHIEF MANAGER (CREDIT AND RECOVERY)
            REGIONAL OFFICE, TRIVANDRUM, PINCODE - 695 562.

    3       KERALA GRAMIN BANK,
            REPRESENTED BY CHIEF MANAGER,
            HEAD OFFICE MALAPPURAM, KERALA, PINCODE - 676 505.

            SRI.K.M.ANEESH (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17880 OF 2022

                                  2


                               JUDGMENT

Petitioner has approached this Court challenging proceedings

under the SARFAESI Act which have been initiated by the bank for

recovery of the amounts due from the petitioner.

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

the petitioner committed default in repayment and the outstanding

amount is Rs.23,41,150/-(Rupees twenty three lakhs forty one

thousand one hundred and fifty 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 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 20 instalments.

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

bank to accept repayment of the entire outstanding amount of

Rs.23,41,150/-(Rupees twenty three lakhs forty one thousand one

hundred and fifty only) along with bank charges from the petitioner

on the following conditions:

WP(C) NO. 17880 OF 2022

(i)The outstanding amount of Rs.23,41,150/-(Rupees twenty three lakhs forty one thousand one hundred and fifty only) along with any accrued interest and charges shall be repaid in 20 equated monthly instalments.

(ii)The first instalment shall be paid on or before 20.06.2022 and the subsequent instalments shall be paid on or before the 20th day 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 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 DK WP(C) NO. 17880 OF 2022

APPENDIX OF WP(C) 17880/2022

PETITIONER EXHIBITS

Exhibitp1 TRUE COPY OF THE NOTICE ISSUED TO THE PETITIONER

Exhibitp2 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT BANK

Exhibitp3 TRUE COPY OF THE RECEIPT OF THE AMOUNT PAYED BY THE PETITIONER

Exhibitp4 TRUE COPY OF THE PAPER PUBLICATION OF TAKING POSSESSION OF THE PETITIONERS PROPERTY