Ibrahimkutty vs Federal Bank
2022 Latest Caselaw 6637 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
     THURSDAY, THE 9TH DAY OF JUNE 2022 / 19TH JYAISHTA, 1944
                        WP(C) NO. 27023 OF 2021
PETITIONER/S:

          IBRAHIMKUTTY
          AGED 63 YEARS
          S/O.KUNJABDULLA, KUTTIYIL HOUSE, PONMERIPARAMBIL,
          VATAKARA, KOZHIKODE - 673 542.
          BY ADV P.K.PRIYA


RESPONDENT/S:

    1     FEDERAL BANK, HAVING REGISTERED OFFICE AT ALUVA,
          ERNAKULAM, PIN - 683 101, REPRESENTED BY ITS AUTHORIZED
          OFFICER.
    2     FEDERAL BANK, KOZHIKODE REGION, KOZHIKODE, PIN - 683
          001. REPRESENTED BY ITS AUTHORIZED OFFICER.
    3     THE MANAGER, FEDERAL BANK, BRANCH KOZHIKODE MEDICAL
          COLLEGE, KOZHIKODE, PIN - 673 309 REPRESENTED BY
          MANAGER.
    4     SHABEER CHERIYA CHANGOTH, AGED 33 YEARS
          S/O.IBRAHIMKUTTY, KUTTIYIL HOUSE, PONMERIPARAMBIL,
          VATAKARA, KOZHIKODE - 673 542.
    5     SOUDHA, AGED 43 YEARS
          W/O.IBRAHIMKUTTY, KUTTIYIL HOUSE, PONMERIPARAMBIL,
          VATAKARA, KOZHIKODE - 673 542.
          BY ADVS.
          MOHAN JACOB GEORGE
          P.V.PARVATHY (P-41)
          REENA THOMAS
          NIGI GEORGE


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27023 OF 2021                   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.7,65,231/- (Rupees Seven lakhs sixty

five thousand two hundred and thirty one 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 overdue amount in

limited instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as

well as 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 ten 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.7,65,231/- (Rupees Seven lakhs sixty five

thousand two hundred and thirty one 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.7,65,231/- (Rupees Seven lakhs sixty five thousand two hundred and thirty one only) along with any accrued interest and charges shall be repaid in ten equated monthly instalments;

(ii)The first instalment shall be paid on or before 15.07.2022 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;

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

(vi) 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) 27023/2021

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE JUDGMENT DATED 04/01/2019 IN WP(C) NO.41601 OF 2018 PASSED BY THIS HONOURABLE COURT.

Exhibit P2 TRUE COPY OF THE ORDER IN R.P.NO.318 OF 2020 IN WP(C) NO.41601 OF 2018 DATED 20/03/2020 PASSED BY THIS HONOURABLE COURT.

Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN M.C.NO.499 OF 2018 ON THE FILES OF THE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE.

Exhibit P5 TRUE COPY OF THE RECEIPT DATED 05.03.2022. Exhibit P6 TRUE COPY OF THE RECEIPT DATED 08.03.2022. Exhibit P7 TRUE COPY OF THE RECEIPT DATED 09.03.2022.