Rajesh K.H vs People Urban Co-Operative Bank ...
2022 Latest Caselaw 3081 Ker

WP(C) NO. 8892 OF 2022
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                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
             THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
      THURSDAY, THE 17TH DAY OF MARCH 2022 / 26TH PHALGUNA, 1943
                            WP(C) NO. 8892 OF 2022
PETITIONER/S:

            RAJESH K.H
            AGED 36 YEARS
            S/O HARIDAS, KARACHULLIL HOUSE, IRUMPANAM P O,
            TRIPUNITHURA-682309.
            BY ADV BIBIN KUMAR


RESPONDENT/S:

            PEOPLE URBAN CO-OPERATIVE BANK LIMITED NO 51
            HEAD OFFICE THRIPPUNITHURA, ERNAKULAM, PIN-682301.,
            REPRESENTED BY AUTHORIZED OFFICER.
OTHER PRESENT:

            ADV.DEVAPRASANTH P.J FOR THE BANK


     THIS   WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
17.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 8892 OF 2022
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                        BECHU KURIAN THOMAS, J.
                  ========================
                         W.P.(C)No. 8892 of 2022
                  ------------------------------------------------
                         Dated this the 17th day of March, 2022

                                    JUDGMENT

Petitioner as borrower from the respondent-Bank, 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 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.7,75,932/-. 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 Smt.Bibin Kumar, the learned counsel for

the petitioner as well as Sri.Devaprasnth.P.J., the learned Standing

Counsel for the respondent.

WP(C) NO. 8892 OF 2022

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 petitioner can be granted

an opportunity to repay the outstanding amount in 15

instalments.

6. Accordingly, there will be a direction to the

respondent-Bank to accept repayment of the entire outstanding

amount of Rs.7,75,932/- along with bank charges from the

petitioner on the following conditions

(i) Petitioner shall deposit an amount of Rs.1,00,000/- on or

before 30.03.2022.

ii) If the said amount is deposited, petitioner shall be

permitted to clear the balance amount of Rs.6,65,932/- in 14

equated monthly instalments.

iii). The first instalment shall be paid on or before

16.04.2022 and the remaining instalments shall be paid on

or before the 16th of the succeeding months.

(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 WP(C) NO. 8892 OF 2022

amounts, all coercive proceedings including the

proceedings under Section 14 of the SARFAESI Act, against

the petitioner shall be kept in abeyance.

The writ petition is disposed of as above.

sd/

BECHU KURIAN THOMAS JUDGE

jm/ WP(C) NO. 8892 OF 2022

APPENDIX OF WP(C) 8892/2022

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE DATED 4.2.2022 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER.