Adarsh R.Pillai vs The Authorised Officer
2022 Latest Caselaw 5104 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
       FRIDAY, THE 6TH DAY OF MAY 2022 / 16TH VAISAKHA, 1944
                        WP(C) NO. 15515 OF 2022
PETITIONER

             ADARSH R PILLAI
             AGED 27 YEARS
             S/O RADHAKRISHNA PILLAI D,
             ANIZHAM, VELAMANNOOR P.O
             PARIPPALLY, KOLLAM - 691574
             BY ADV M.R.SASITH


RESPONDENT

             AUTHORISED OFFICER
             THE FEDERAL BANK LTD
             LCRD, THIRUVANANTHAPURAM DIVISION,
             4TH FLOOR, FEDERAL TOWER,
             STATUTE, THIRUVANANTHAPURAM , PIN 695001

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 15515 OF 2022
                                  2

                             JUDGMENT

Petitioner has approached this Court challenging

recovery proceedings initiated against the petitioner at the

instance of the respondent Bank.

2. When the matter is taken up for consideration

today, the learned Standing Counsel appearing for the

respondent Bank submits that as on date the overdue

amount is Rs.5,72,469/- (Rupees five lakh seventy two

thousand four hundred and sixty nine only). It is very fairly

submitted that the petitioner can be given an opportunity to

clear off the overdue amount in installments.

3. Having heard the learned counsel for the

petitioner and the learned Standing Counsel for the

respondent Bank, this writ petition is disposed of directing

that if the petitioner pays the overdue amount together with

interest accrued thereon in eight equal monthly installments,

the first of which shall be payable on or before 01.06.2022,

the recovery proceedings initiated against the petitioner WP(C) NO. 15515 OF 2022

shall stand deferred. The subsequent installments shall be

paid on or before the first day of succeeding months. The

petitioner shall also pay the regular EMIs on the loan. It is

made clear that the in event of default, it is open to the

respondent Bank to proceed against the petitioner.

The writ petition stands disposed of as above.

Sd/-

GOPINATH P.

JUDGE

nkr WP(C) NO. 15515 OF 2022

APPENDIX

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT DATED 07.04.2022