Kerala High Court
Manoj P.G vs The Thodupuzha Urban ... on 18 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
FRIDAY, THE 18TH DAY OF MARCH 2022 / 27TH PHALGUNA, 1943
WP(C) NO. 22569 OF 2021
PETITIONER:
MANOJ P.G.,
AGED 52 YEARS
S/O.P.K. GOPALAPILLAI, PUZHAMPILLIL, KANJIRAMATTOM,
THODUPUZHA EAST P.O.,
685 585, IDUKKI DISTRICT.
BY ADVS.
P.ABANI
S.KRISHNALAL
RESPONDENTS:
1 THE THODUPUZHA URBAN CO-OPERATIVE BANK LTD NO.394,
URBAN BANK ROAD, THODUPUZHA,PIN- 685 584,THODUPUZHA,
REPRESENTED BY ITS SECRETARY.
2 THE MANAGER,
THE THODUPUZHA URBAN CO-OPERATIVE BANK LTD. NO. 394,
URBAN BANK ROAD, THODUPUZHA,PIN- 685 584.
3 AUTHORISED OFFICER,
THE THODUPUZHA URBAN CO-OPERATIVE BANK LTD. NO. 394,
URBAN BANK ROAD, THODUPUZHA,PIN- 685 584.
BY ADV.SAJEEV KUMAR K. GOPAL
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 22569 OF 2021
2
BECHU KURIAN THOMAS, J.
===========================
W.P.(C) No.22569 of 2021
============================
Dated this the 18th 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.10,88,986/-. 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 overdue amount in limited instalments and regularise the
WP(C) NO. 22569 OF 2021
loan account.
4. I have heard Smt.Abani.P, learned counsel for the
petitioner as well as Shri.Sajeev Kumar K.Gopal, learned 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 twelve
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.10,88,986/- along with bank charges from the petitioner and
regularise the loan account of the petitioner on the following
conditions:
WP(C) NO. 22569 OF 2021
(a) The overdue amount of Rs.10,88,986/-
shall be repaid in twelve equated monthly
instalments.
(b) The first instalment shall be paid on or
before 18.04.2022 and the remaining
instalments shall be paid on or before the 18th
of the succeeding months.
(c) Petitioner shall continue to pay the
regular EMI's along with the instalments
directed above.
(d) In the event of default of any one
instalment, the respondent bank shall be
entitled to proceed in accordance with law.
(e) In order to enable the petitioner to repay
the entire amounts, all coercive proceedings
shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
ssa/
WP(C) NO. 22569 OF 2021
APPENDIX OF WP(C) 22569/2021
PETITIONERS' EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE UNDER SEC.13 (2)
SARFAESI ACT, DATED 21/8/2019.
Exhibit P2 TRUE COPY OF THE RECEIPTS DATED 1/10/2021
AND 31/3/2021.
Exhibit P3 TRUE COPY OF THE POSSESSION NOTICE DATED
6/12/2019 ISSUED BY THE 2ND RESPONDENT.
