Kerala High Court
Suresh Kumar vs Axis Bank on 16 March, 2022
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. 8836 OF 2022
PETITIONERS:
1 SURESH KUMAR, KURATTIMELETHIL
MUTHUPEZHUMKAL.P.O, VAKAYAR,
KONNI, ARUVAPPULAM, PATHANAMTHITTA-689698
2 SREEREKHA K.S, KURATTIMELETHIL
MUTHUPEZHUMKAL.P.O,
VAKAYAR, KONNI
ARUVAPPULAM, PATHANAMTHITTA-
BY ADV C.A.RAJEEV
RESPONDENTS:
1 AXIS BANK, KUNNITHOTTATHIL PLAZA,
GENERAL HOSPITAL ROAD, PATHANAMTHITTA-689645
REPRESENTED BY ITS MANAGER.
2 THE AUTHORIZED OFFICER, AXIS BANK LTD,
RETAIL ASSET CENTRE,5TH FLOOR, CHICAGO PLAZA
RAJAJI ROAD, ERNAKULAM-682035
OTHER PRESENT:
SAJU N.A SC FOR RESPONDENT BANK
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. 8836 OF 2022
-:2:-
BECHU KURIAN THOMAS, J.
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W.P.(C) No. 8836 of 2022
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Dated this the 16th day of March, 2022
JUDGMENT
Petitioners as borrowers from the respondent bank,
have committed default in repayment. Consequently,
proceedings have been initiated by the bank for recovery of
the amounts due.
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 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.7,64,535/-. It was further submitted
that though proceedings for recovery have been initiated, as
WP(C) NO. 8836 OF 2022
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.C.A.Rajeev, the learned counsel for
the petitioners as well as Sri.Saju N.A, the learned Standing
Counsel for the respondents.
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
petitioners 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 entire overdue
amount of Rs.7,64,535/- along with bank charges from the
petitioners and regularise the loan account of the petitioners
on the following conditions:
WP(C) NO. 8836 OF 2022
(i) The overdue amount of Rs.7,64,535/- shall be
repaid in '10' equated monthly instalments.
(ii) The first instalment shall be paid on or before
16/04/2022.
(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 accordance with law.
(v) In order to enable the petitioners to repay the
entire amounts, all coercive proceedings
against the petitioners shall be kept in
abeyance.
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AJM
WP(C) NO. 8836 OF 2022
APPENDIX OF WP(C) 8836/2022
PETITIONER'S EXHIBITS :
Exhibit P1 TRUE COPY OF DEMAND NOTICE DATED 26.6.18
OF THE 2ND RESPONDENT.
Exhibit P2 TRUE COPY OF REPRESENTATION DATED
23.09.2019 OF THE 1ST PETITIONER BEFORE
THE 1ST RESPONDENT.
Exhibit P3 TRUE COPY OF NOTICE DATED 18.1.2022 OF
THE ADVOCATE COMMISSIONER.
RESPONDENT'S EXHIBITS : NIL
AJM //TRUE COPY// PA TO JUDGE
