Muhammed Yasar S vs Manjeri Co-Operative Urban Bank ...
2022 Latest Caselaw 2920 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
  WEDNESDAY, THE 16TH DAY OF MARCH 2022 / 25TH PHALGUNA, 1943
                       WP(C) NO. 3846 OF 2022
PETITIONER:

          MUHAMMED YASAR S., AGED 31 YEARS
          S/O. ALI HAJI,
          ARAMTHODIKA HOUSE, ERANHIKKOD,
          PULPATTA P.O,
          MALAPPURAM,
          PIN - 676 123
          BY ADV P.C.MUHAMMED NOUSHIQ


RESPONDENT:

          MANJERI CO-OPERATIVE URBAN BANK LTD
          COURT ROAD, MANJERI P.O,
          MALAPPURAM - 676121.
          REPRESENTED BY ITS GENERAL MANAGER

          BY ADV K.VIDYASAGAR



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.3846 of 2022
                                                2



                          BECHU KURIAN THOMAS, J
                         ..............................................
                             W.P.(C) No.3846 of 2022
                            .....................................
                          Dated this the 16th day of March, 2022

                                      JUDGMENT

Petitioner 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, petitioner has confined the relief

to an opportunity for repaying the outstanding amount in

instalments.

3. It was submitted on behalf of the respondent-Bank that the

petitioner committed default in repayment and the outstanding

amount is Rs.63,62,663/-. 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 outstanding amount in limited instalments.

4. I have heard Sri.P.C.Muhammed Noushiq, the learned counsel for

the petitioner as well as Sri.K.Vidyasagar, the learned Standing

Counsel for respondent.

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

now prevailing, apart from the submissions made as recorded WP(C) NO.3846 of 2022

above, I am of the view that the petitioner can be granted an

opportunity to repay the outstanding amount in '20' instalments.

6. Accordingly, there will be a direction to the respondent-Bank to

accept repayment of the entire outstanding amount of

Rs.63,62,663/- along with bank charges from the petitioner on the

following conditions:

(i). The outstanding amount of Rs.63,62,663 /- shall be repaid in

'20' equated monthly instalments.

(ii). The first instalment shall be paid on or before 16.04.2022.

(iii). In the event of default of any one instalment, the

respondent-Bank shall be entitled to proceed in accordance with

law.

(iv) In order to enable the petitioner to repay the entire

amounts, all coercive proceedings against the petitioner shall be

kept in abeyance.

The writ petition is disposed of.

Sd/-

BECHU KURIAN THOMAS JUDGE AMV/17/03//2022 WP(C) NO.3846 of 2022

APPENDIX OF WP(C) 3846/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE SALE NOTICE DATED 01.01.2022 ISSUED BY THE BANK UNDER SECTION 13(8) OF THE ACT TO THE PETITIONER

RESPONDENTS EXHIBITS : NIL

TRUE COPY