Binu C.P vs People'S Urban Co-Operative Bank ...
2022 Latest Caselaw 3085 Ker

            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. 9057 OF 2022


PETITIONER:



            BINU C.P
            AGED 50 YEARS
            S/O.PEETHAMBARAN,
            CHERASSERY HOUSE,
            FISHERIES ROAD,
            NJARAKKAL - 682 505.

            BY ADV. MUMTAZ SHAMSUDDIN


RESPONDENT:

            PEOPLE'S URBAN CO-OPERATIVE BANK LTD.NO.51
            REP. BY THE AUTHORISED OFFICER, HEAD OFFICE,
            THRIPUNITHURA - 682 023.

            BY ADV.DEVAPRASANTH P.J, SC


    THIS      WRIT     PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON     17.03.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C)No. 9057 of 2022                   2


                           BECHU KURIAN THOMAS, J.
                     ========================
                             W.P.(C)No.9057of 2022
                     ------------------------------------------------
                     Dated this the 17th day of March, 2022


                                     JUDGMENT

Petitioner as borrower 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, 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.20,58,828/-. 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.Mumtaz Shumsuddin, the learned Counsel

for the petitioner as well as Sri.Devaprasanth P. J., the learned Standing

Counsel for the respondent.

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 12 instalments.

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

to accept repayment of the entire outstanding amount of Rs.20,58,828/-

along with bank charges from the petitioner on the following conditions:

(i). The outstanding amount of Rs.20,58,828/- shall be repaid

in '12' equated monthly instalments.

(ii). The first instalment shall be paid on or before 17.04.2022.

(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 including those initiated

under section 14 of the SARFAESI Act shall be kept in

abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE nk

APPENDIX OF WP(C) 9057/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF ADVOCATE COMMISSION NOTICE DATED 05/03/2022.

Exhibit P2 REPLY NOTICE DATED 15/03/2022 BY THE PETITIONER TO THE RESPONDENT.