Amaze Apparels vs Union Bank Of India
2022 Latest Caselaw 7218 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        THURSDAY, THE 23RD DAY OF JUNE 2022 / 2ND ASHADHA, 1944
                        WP(C) NO. 20375 OF 2022
PETITIONERS:

    1       AMAZE APPARELS
            12/450/2, MUHAMMED KUTTY MEMORIAL BUILDING, CHANDRIKA
            LANE,ALUVA P.O.,ERNAKULAM, PIN-683101 REPRESENTED BY IT
            MANAGING PARTNER SAM SANAL, S/O P.J THOMAS, AGED 42 YEARS,
            MELEPPARAMBU HOUSE,EZHUPUNNA P.O,
            CHERTHALA,ALAPPUZHA DISTRICT,PIN CODE -683101

    2       SAM SANAL
            S/O PJ THOMAS, AGED 42 YEARS, MELEPPARAMBU HOUSE, EZHUPUNNA
            P.O, CHERTHALA, ALAPPUZHA DISTRICT, PIN CODE-683537.

    3       SOPHY JOHN,
            W/O JOSE,AGED 47 YEARS, MANICKATHAN (H), SREEMOOLANAGARAM
            P.O CHAWARA, ERNAKULAM-683580

            BY ADV P.K.PAMALA


RESPONDENTS:

    1       UNION BANK OF INDIA
            HAVING ITS HEAD OFFICE AT UNION BANK BHAVAN,239 VIDHAN
            BHAVAN MARG, NARIMAN POINT, MUMBAI, REGIONAL OFFICE AT UNION
            BANK BHAVAN, 2ND FLOOR, M.G. ROAD, ERNAKULAM WITH BRANCH
            OFFICE AT ALUVA REPRESENTED BY ITS BRANCH MANAGER AND
            PRINCIPAL OFFICER, CHAITHANYA.INVK, S/O MARUTHY RAO,AGED 35
            YEARS, UNION BANK BHAVAN XIV 466, P.B.NO.20, HOSPITAL ROAD
            ALUVA, ERNAKULAM.-683101

    2       BRANCH MANAGER AND PRINCIPAL OFFICER,
            UNION BANK OF INDIA, CHAITHANYA.INVK, S/O MARUTHY RAO,AGED
            35 YEARS, UNION BANK BHAVAN XIV 466,P.B.NO.20, HOSPITAL ROAD
            ALUVA, ERNAKULAM - 683101

    3       GENERAL MANAGER,
            RESERVE BANK OF INDIA, ERNAKULAM NORTH, PB NO.3065, KOCHI-
            682 018


OTHER PRESENT:

            SRI. A S P KURUP (SC)
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.20375/2022                      -2-

                                  JUDGMENT

The petitioners have availed two loans namely one over draft facility and a

term loan facility from the 1st respondent bank. The over due amount is stated to be

Rs.3,55,202/- in respect of both the accounts.

2. During the course of hearing, petitioners have confined the relief to an

opportunity for repaying the overdue amount in instalments and to obtain

regularisation of all the loan accounts.

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

due amount in respect of the both the loan is Rs.3,55,202/-. 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 accounts.

4. I have heard the learned counsel for the petitioners as well as the

learned Standing Counsel for the respondent Bank.

5. Having regard to the facts and circumstances of the case and the

situation now prevailing, apart from the submissions made as recorded above and

taking into account the fact that the petitioners have undertaken to clear off the

overdue amount, I am of the view that the petitioners can be granted an opportunity

to clear off the overdue amount in eight (8) equal instalments first of which shall be

paid on or before 15-07-2022 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.3,55,202/- along with bank charges

from the petitioners and regularise the loan account of the petitioners on the

following conditions:

(i) The overdue amount of Rs.3,55,202/- together with any accrued interest and charges shall be repaid in eight 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 15 th of every succeeding month.

(iii) Petitioners shall also service all the loans by paying all future installments in respect of all the loans in time.

(iv) The petitioners shall also comply with the conditions imposed by the bank for renewal of over draft facility.

(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 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) 20375/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE PARTNERSHIP DEED DATED 3.7.2018

Exhibit P2 A TRUE COPY OF THE PLAINT IN CS 131 OF 2022 FILED BEFORE THE HON'BLE COMMERCIAL COURT, ERNAKULAM DATED MARCH 2022

Exhibit P3 A TRUE COPY OF THE AUCTION SALE NOTICE DATED 13.04.2022