Ligy Davis vs Icici Bank Ltd
2022 Latest Caselaw 3484 Ker

                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. 4199 OF 2022
PETITIONER :

          LIGY DAVIS,
          AGED 31 YEARS,
          W/O. PRINCE MARKOSE, KALAPURACKAL,
          MULAKUVALLY P.O, MANAPPARA, IDUKKI (PART),
          IDUKKI DISTRICT, KERALA - 685 602.

          BY ADVS.
          P.FAZIL
          JAYASREE MANOJ
          SAJU THALIATH
          JITHIN PAUL VARGHESE
          PRABHITHA.C
          ANN MARY FRANCIS
          FADIL FAZIL


RESPONDENTS :

    1     ICICI BANK LTD.,
          ANGAMALY BRANCH, JOLLYS ARCADE,
          NATIONAL HIGHWAY ROAD, ANGAMALY,
          ERNAKULAM DISTRICT, PIN CODE - 683 573,
          REPRESENTED BY ITS BRANCH MANAGER.

    2     THE AUTHORIZED OFFICER,
          ICICI BANK LTD ZONAL OFFICE,
          PUSHPAMANGALAM ESTATE, NH BYEPASS,
          EDAPALLY, KOCHI - 682 024.

          BY ADV. PRADEESH CHACKO




     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. 4199 OF 2022
                                        2

                      BECHU KURIAN THOMAS, J.
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                       W.P.(C) No.4199 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 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.1,54,345/-. 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 loan account.

4. I have heard Sri.P.Fazil, learned counsel for the petitioner

as well as Sri.Pradeesh Chacko, the learned Standing 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 WP(C) NO. 4199 OF 2022

to repay the overdue amount in '10' 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.1,54,345/-

along with bank charges from the petitioner and regularise the loan

account of the petitioner on the following conditions :

(i) The overdue amount of Rs.1,54,345/- shall be repaid in '10' equated monthly instalments.

(ii) The first instalment shall be paid on or before 22.04.2022 and the remaining instalments shall be paid on or before the 22nd of the succeeding months.

(iii) Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

(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 shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 4199 OF 2022

APPENDIX OF WP(C) 4199/2022

PETITIONER'S EXHIBITS :

Exhibit P1 PHOTOCOPY OF THE SARFAESI DEMAND NOTICE DATED 28.10.2021 ISSUED BY ICICI BANK.