Kerala High Court
Sathyaseelan Nair vs The General Manager 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. 9141 OF 2022
PETITIONER:
SATHYASEELAN NAIR,
AGED 62 YEARS
S/O9.N.NARAYANPILLA,
LAKSHMI NIVAS, PANAGAD-682 506.
BY ADVS.
M.R.NANDAKUMAR
MAYIKA SUNDAR
ARJUN ANIL
RESPONDENTS:
1 THE GENERAL MANAGER,
PEOPLES URBAN CO-OPERATIVE BANK LTD.NO.54, HEAD
OFFICE, THRIPUNITHURA,
THRIPUNITHURA-682 301.
2 BRANCH MANAGER,
PEOPLES URBAN CO OPERATIVE BANK LTD.,
NETOOR, ERNAKULAM-682 040.
SRI.DEVAPRASANTH P.J.
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. 9141 OF 2022
2
BECHU KURIAN THOMAS, J
..............................................
W.P.(C) No.9141 of 2022
.....................................
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 the 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.53,42,549/-. It was further submitted that though
proceedings for recovery have been initiated, as a matter of
indulgence, the respondent Bank has expressed its willingness to
defer the sale on condition that petitioner deposits a substantial
sum to prove his bona fides and pays the balance amount in
instalments.
4. I have heard Sri.M.R.Nandakumar, the learned counsel for the
petitioner as well as Sri.Devaprasanth P.J., the learned Standing
WP(C) NO. 9141 OF 2022
Counsel for 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 outstanding amount in '13' instalments.
6. Accordingly, there will be a direction to the respondent-Bank to
accept repayment of the entire outstanding amount of
Rs.53,42,549/- along with bank charges from the petitioner on
the following conditions:
((i). The outstanding amount of Rs.53,42,549/- shall be
repaid in '13' monthly instalments, on condition that an
amount of Rs.7,50,000/- (Rupees Seven lakhs fifty only)
shall be paid by the petitioner on or before 30.03.2022.
(ii). If the said amount is paid within the stipulated time,
the respondent-Bank shall accept repayment of the entire
balance amount in '12' equated monthly instalments,
commencing from 30.04.2022 and the remaining instalments
shall be paid on or before the 30th of the succeeding
months.
(iii). In the event of default of any one instalment, the
respondent-Bank shall be entitled to proceed in accordance
with law.
WP(C) NO. 9141 OF 2022
(iv) 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.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AMV/21/03//2022
WP(C) NO. 9141 OF 2022
APPENDIX OF WP(C) 9141/2022
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE SALE NOTICE UNDER
SARFAESI ACT DATED 20.01.2020 ISSUED BY
THE RESPONDENTS.
Exhibit P2 A TRUE COPY OF THE JUDGMENT DATED
07.04.2021 IN WPC NO.6067/2020 OF THIS
HONOURABLE COURT.
Exhibit P3 A TRUE COPY OF THE DISCHARGE SUMMARY AND
THE MEDICATION REPORT OF THE PETITIONER.
Exhibit P4 TRUE COPY OF THE NOTICE DATED 03.03.2022
INFORMING THE PROCEEDINGS IN MC
NO.327/2021 OF THE HONOURABLE ADDITIONAL
CHIEF JUDICIAL MAGISTRATE'S COURT AT
ERNAKULAM.
RESPONDENTS EXHIBITS : NIL
TRUE COPY
