Kerala High Court
Bijumon K.J vs Kerala Bank Ltd. Represented By ... on 22 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
TUESDAY, THE 22ND DAY OF MARCH 2022 / 1ST CHAITHRA, 1944
WP(C) NO. 9516 OF 2022
PETITIONER :
BIJUMON K.J., AGED 44 YEARS,
KUNNATHOTTAYIL HOUSE, VATTAPPARA P.O., CHATHURANGAPPARA
VILAGE, IDUKKI DISTRICT., PIN - 685 619.
BY ADVS.S.JIJI & M.M.BABY.
RESPONDENTS :
1 KERALA BANK LTD. REPRESENTED BY ITS MANAGER,
(FORMERLY IDUKKI DISTRICT CO-OPERATIVE BANK LTD.)
CHEMMANNAR BRANCH, CHEMMANNAR P.O., IDUKKI DISTRICT., PIN
- 685 554.
2 AUTHORIZED OFFICER, UNDER SARFAESI ACT,
KERALA BANK LTD, CREDIT PROCESSING CENTRE, P.B. NO. 2,
IDUKKI COLONY P.O., IDUKKI , PIN - 685 602.
SRI.GILBERT GEORGE CORREYA
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 9516 OF 2022
2
BECHU KURIAN THOMAS, J
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W.P.(C) No.9516 of 2022
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Dated this the 22nd 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 overdue amount in instalments and to obtain
regularisation of the loan account.
3. It was submitted on behalf of the respondent-Bank that, petitioner availed
two loans from the respondent Bank. Under a cash credit facility, an
outstanding amount of Rs.18,39,143/- is due from the petitioner while
under a personal loan, an amount of Rs.1,99,475/- is overdue. It was
further submitted that the respondents are willing to accept repayment of
the amount due under the personal loan and regularise the said loan
account, while the petitioner has to clear the entire outstanding amount
under the cash credit loan.
4. I have heard Sri.M.M.Baby, the learned counsel for the petitioner as well
as Sri.Gilbert George Correya, the learned Standing Counsel for
WP(C) NO. 9516 OF 2022
respondents.
5. In view of the aforestated submission, that an amount of Rs.18,39,143/-
remains as outstanding amount under the cash credit facility and an
amount of Rs.1,99,475/- is remaining overdue amount under the personal
loan, I am of the view that the petitioner can be granted an opportunity
to repay the amounts in '18' equated monthly instalments and if the
overdue amount under the personal loan is repaid, the respondent
regularise the said loan account.
6. Accordingly, there will be a direction to the respondent-Bank to accept
repayment of the entire amount along with bank charges from the
petitioner and to regularise the personal loan account of the petitioner
on the following conditions:
(i). Rs.18,39,143/-, being the outstanding amount under the
cash credit loan and an amount of Rs.1,99,475/- being the
overdue amount under the personal loan, shall be repaid in
'18' equated monthly instalments, commencing from
22.04.2022.
(ii). The remaining instalments shall be paid on or before the 22 nd
day of every succeeding month.
(iii). Petitioner shall continue to pay the regular EMI's under the personal
loan along with the instalments directed above.
WP(C) NO. 9516 OF 2022
(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 amounts, all
coercive proceedings initiated against the petitioner shall be kept in
abeyance.
The writ petition is disposed of.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AMV/22/03//2022
WP(C) NO. 9516 OF 2022
APPENDIX OF WP(C) 9516/2022
PETITIONER'S EXHIBITS :
Exhibit P-1 TRUE COPY OF THE NOTICE DATED 15-12-2021
ISSUED BY THE 2ND RESPONDENT UNDER SECTION
13(2) OF THE SARFAESI ACT.
RESPONDENTS EXHIBITS : NIL
TRUE COPY
