Bijilal B.G vs The Kerala State Co-Operative ...
2022 Latest Caselaw 2944 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. 8765 OF 2022
PETITIONER:

          BIJILAL B.G
          AGED 40 YEARS
          A.K.BALAN, AYYATHANKANDY HOUSE,
          P.O., MEPPAYUR, MEPPAYUR VILLAGE,
          KOZHIKODE DISTRICT, PIN-673 524
          BY ADV V.N.RAMESAN NAMBISAN


RESPONDENTS:

    1     KERALA STATE CO-OPERATIVE BANK LTD.,
          REPRESENTED BY ITS BRANCH MANAGER,
          MEPPAYUR BRANCH,
          KOZHIKODE DISTRICT, PIN-673 524

    2     AUTHORIZED OFFICER,
          THE KERALA STATE CO-OPERATIVE BANK LTD.,
          RECOVERY WING, P.B.NO.503,
          KALLAI ROAD, P.O., CHALAPPURAM,
          KOZHIKODE DISTRICT, PIN-673002
OTHER PRESENT:

          P.C.SASIDHARAN


     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. 8765 OF 2022
                               -:2:-


                 BECHU KURIAN THOMAS, J.
             -----------------------------------------
                  W.P.(C) No. 8765 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 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.5,36,911/-. It was further submitted

that though proceedings for recovery have been initiated, as

a matter of indulgence, the respondent bank is willing to WP(C) NO. 8765 OF 2022

accept repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Sri.V.N.Ramesan Nambisan, the

learned counsel for the petitioner as well as

Sri.P.C.Sasidharan, 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

petitioner can be granted an opportunity to repay the

overdue amount in '12' 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.5,36,911/- along with bank charges from the

petitioner and regularise the loan account of the petitioner

on the following conditions:

WP(C) NO. 8765 OF 2022

(i) The overdue amount of Rs.5,36,911/- shall be repaid in '12' equated monthly instalments.

(ii) The first instalment shall be paid on or before 16/04/2022.

(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 accordance with law.

(v) 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 as above.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 8765 OF 2022

APPENDIX OF WP(C) 8765/2022

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF NOTICE DATED 4.2.2022 ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(8) OF THE SARFAESI ACT.

RESPONDENT'S EXHIBITS : NIL

AJM                      //TRUE COPY//         PA TO JUDGE