Mariyumma vs Manjeri Urban Bank Ltd
2022 Latest Caselaw 3169 Ker

              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. 28511 OF 2021
PETITIONER:

          MARIYUMMA
          AGED 62 YEARS
          D/O. ABDULLA, CHEERANTHODI HOUSE,MULLAMPARA P.O.,
          MANJERI, MALAPPURAM DISTRICT

          BY ADV K.RAKESH


RESPONDENT:

          MANJERI URBAN BANK LTD.
          LOAN RECOVERY CELL, HEAD OFFICE, COURT ROAD, MANJERI
          P.O., MALAPPURAM DISTRICT, PIN-676 121, REPRESENTED BY
          ITS MANAGER

          BY ADV K.VIDYASAGAR



     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. 28511 OF 2021
                                     2


                  BECHU KURIAN THOMAS, J.
                ===========================
                   W.P.(C) No.28511 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 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.68,85,275/-. 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 Shri.Rakesh.K, learned counsel for the WP(C) NO. 28511 OF 2021

petitioner as well as Shri.Vidyasagar.K, learned 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 the petitioner can be

granted an opportunity to repay the outstanding amount in

eighteen instalments.

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

bank to accept repayment of the entire outstanding amount of

Rs.68,85,275/- along with bank charges from the petitioner on the

following conditions:

i. The outstanding amount of Rs.68,85,275/- shall be repaid in eighteen equated monthly instalments.

ii. The first instalment shall be paid on or before 18.04.2022.

iii. In the event of default of any one instalment, the respondent bank shall be entitled WP(C) NO. 28511 OF 2021

to proceed in accordance with law.

iv. 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. 28511 OF 2021

APPENDIX OF WP(C) 28511/2021

PETITIONERS' EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK AS PER PROVISIONS OF SARFAESI ACT DATED 7.7.2021