Raju P.J vs Federal Bank Limited
2022 Latest Caselaw 7502 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 24TH DAY OF JUNE 2022 / 3RD ASHADHA, 1944
                         WP(C) NO. 5691 OF 2022
PETITIONER:

           RAJU P.J
           AGED 62 YEARS
           S/O.JOSEPH, PLATHOTTATHIL HOUSE, ELANJI(PO), ERNAKULAM
           DISTRICT,PIN-686665.

           BY ADVS.
           P.K.VARGHESE2022
           P.S.ANISHAD
           LIMNA BHASKARAN
           K.R.ARUN KRISHNAN



RESPONDENTS:

    1      FEDERAL BANK LIMITED
           ELANJI BRANCH, ELANJI(PO),
           KUTHATTUKULAM, ERNAKULAM DISTRICT,
           PIN-686665.

    2      ASSIS.P.M,
           AUTHORISED OFFICER, FEDERAL BANK LTD, LCRD THODUPUZHA
           DIVISION,
           KP VARKY MALL, ROTARY JUNCTION, AMBALAM BYE PASS
           ROAD,THODUPUZHA,
           IDUKKI DISTRICT, PIN-685584.


OTHER PRESENT:

           SRI. P. PAULOCHAN ANTONY (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.5691/2022                       -2-

                                   JUDGMENT

When this matter is taken up for consideration toady, it is submitted by

learned Standing Counsel for the bank that the over due amount in respect of 3

loans availed by the petitioner is Rs.7,60,000/-. It is submitted that the bank is

ready and willing to renew/regularize the loan accounts if the petitioner submits a

reasonable proposal to the respondent bank. It is also pointed out that renewal of

cash credit and over draft can be only after the petitioner demonstrates that the

business activity is continuing.

2. The learned counsel for the petitioner submits that the petitioner was

engaged in certain agricultural activities including production of rubber and these

activities had come to a stand still on account of COVID-19 pandemic. It is

submitted that the petitioner will be able to restart the operations within a short

time.

3. Taking note of the submissions as above, it is directed that if the

petitioner approaches the bank with a reasonable proposal to clear the over due

amounts in respect of the loans availed by him from the respondent bank and also

shows that he will restart the business activities within a specified time, the bank

shall consider the request of the petitioner. If the petitioner submits a reasonable

proposal within a period of 10 days from today, all recovery proceedings against the

petitioner shall be deferred till a decision is taken on the proposal to be submitted

by the petitioner.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE AMG

APPENDIX OF WP(C) 5691/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 23.12.2021.

Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT UNDER SECTION 13(2) OF SARFAESI ACT ON 14.09.2021.