Biju Thomas vs The Authorised Officer
2022 Latest Caselaw 7244 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. 19009 OF 2022
PETITIONER:

            BIJU THOMAS,
            AGED 47 YEARS,
            S/O. THOMAS, PALAPALLIL HOUSE, VADAKKAL,
            ALAPPUZHA, PIN-688 003.

            BY ADVS.
            B.PRAMOD
            BIJU VIGNESWAR
            ASWATHI SURESH



RESPONDENTS:

    1       THE AUTHORISED OFFICER
            CANARA BANK, ALAPPUZHA MULLAKKAL BRANCH,
            VSV BUILDING, IRON BRIDGE P.O, ALAPPUZHA,
            PIN - 680 011.

    2       CANARA BANK,
            ALAPPUZHA MULLAKKAL BRANCH, VSV BUILDING,
            IRON BRIDGE P.O, ALAPPUZHA, PIN - 680 011.

            SRI. PAULY MATHEW MURICKEN (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 19009 OF 2022

                                  2




                          JUDGMENT

The 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.

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.58,090/-(Rupees fifty eight thousand

and ninety 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 respondents. WP(C) NO. 19009 OF 2022

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 10

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 overdue amount

of Rs.58,090/-(Rupees fifty eight thousand and ninety 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.58,090/-(Rupees fifty eight thousand and ninety only) along with any accrued interest and charges shall be repaid in 10 equated monthly instalments.

ii. The first instalment shall be paid on or before 15.07.2022 and the subsequent instalments shall be paid on the last working day of every 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 WP(C) NO. 19009 OF 2022

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 DK WP(C) NO. 19009 OF 2022

APPENDIX OF WP(C) 19009/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE NOTICE DATED 6.4.2022 ISSUED BY THE 2ND RESPONDENT BANK TO THE PETITIONER.