Faisal .P.V vs Authorised Officer
2022 Latest Caselaw 2371 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
           THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     WEDNESDAY, THE 2ND DAY OF MARCH 2022 / 11TH PHALGUNA, 1943
                         WP(C) NO. 6764 OF 2022
PETITIONERS:

           FAISAL .P.V, S/O ABOOBACKER HAJEE
           AGED 53 YEARS, 420/1128, PARAMBATH,
           KARUVASSERY P.O. KOZHIKODE DISTRICT, PIN - 673010

           JUMAIDA BEEVI, W/O ABOOBACKER HAJEE, AGED 42 YEARS,
           420/1128, PARAMBATH, KARUVASSERY P.O.,
           KOZHIKODE DISTRICT, PIN - 673010
           BY ADVS.
           N.RAYNOLD FERNANDEZ
           DILEEP VARGHESE
           TESMY VARGHEESE


RESPONDENT/S:

           AUTHORISED OFFICER, THE FEDERAL BANK LTD, LCRD, KOZHIKODE
           DIVISION, 1ST FLOOR, FEDERAL TOWERS, MAVOOR ROAD,
           KOZHIKODE, PIN - 673016

           BY ADV. MOHAN JACOB GEORGE, SC
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6764 OF 2022
                                       -2-

                               JUDGMENT

Petitioners as borrower from the respondent-Bank, has committed

default in repayment. Consequently, proceedings have been initiated by

the Bank for recovery of the amounts due.

2. During the course of the hearing, petitioners have 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

petitioners committed default in repayment and the overdue amount is

Rs.1,36,230/-. 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 Sri.Raynold Fernandez, the learned counsel for the

petitioner as well as Sri.Mohan Jacob George, the learned Standing

Counsel for the respondent.

5. Having regard to the circumstances of the case and the situation WP(C) NO. 6764 OF 2022

now prevailing, apart from the submissions made as recorded above, I

am of the view that the petitioners can be granted an opportunity to

repay the overdue amount in 'six' 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.1,36,230/- along

with bank charges from the petitioners and to regularise the loan account

of the petitioners on the following conditions:

(i). The overdue amount of Rs.1,36,230/- shall be

repaid in 'six' equated monthly instalments.

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

30.03.2022.

(iii). Petitioners 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. 6764 OF 2022

accordance with law.

(v) 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/-

BECHU KURIAN THOMAS JUDGE

uu 02.03.2022 WP(C) NO. 6764 OF 2022

APPENDIX OF WP(C) 6764/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE RESPONDENT BANK FOR THE PERIOD 01.01.2021 TO 15.02.2022.

Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY RESPONDENT STATING THAT THEY TOOK POSSESSION OF THE PROPERTY SCHEDULED IN THE NOTICE.