Francis P J vs Punjab National Bank
2022 Latest Caselaw 5414 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

      THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

   FRIDAY, THE 20TH DAY OF MAY 2022 / 30TH VAISAKHA, 1944

                     WP(C) NO. 16397 OF 2022

PETITIONER:

            FRANCIS P.J.,
            AGED 53 YEARS, S/O. P.D.JOSEPH,
            POOPADI HOUSE,
            PLEASANT AVENUE ROAD,
            VIJAYATH LANE, VIYYUR,
            THRISSUR - 680 010.
            BY ADV E.V.MOLY


RESPONDENT:

            PUNJAB NATIONAL BANK
            RECOVERY DEPARTMENT,
            CIRCLE OFFICE, 40/1461,
            MARKET ROAD, 2ND FLOOR,
            ERNAKULAM - 682 011.
            REP.BY ITS AUTHORIZED OFFICER.



            SRI.SANDEEP ANKARATH, SC



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   20.05.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.16397/22
                                       -:2:-




                         BECHU KURIAN THOMAS, J.
                      --------------------------------------
                          W.P.(C) No.16397 of 2022
                      --------------------------------------
                      Dated this the 20th day of May, 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.5,35,906/-. 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 Smt.Moly E.V., learned counsel for the

petitioner as well as Sri.Santheep Ankarath, the learned W.P.(C) No.16397/22

Standing 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 overdue amount in '12'

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.5,35,906/- 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.5,35,906 /- shall be repaid in twelve equated monthly instalments.

(ii) The first instalment shall be paid on or before 24.06.2022 and the remaining instalments shall be paid on or before the 24th 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.

W.P.(C) No.16397/22

(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 vps W.P.(C) No.16397/22

APPENDIX OF WP(C) 16397/2022

PETITIONER'S/S' EXHIBITS EXHIBIT P1 THE TRUE COPY OF DEMAND NOTICE DATED 23.06.2021 ISSUED BY THE RESPONDENT BANK.

EXHIBIT P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED 22.4.2022 ISSUED BY THE RESPONDENT BANK.