Georgekutty T D vs The Federal Bank Ltd
2022 Latest Caselaw 5553 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
      THURSDAY, THE 26TH DAY OF MAY 2022 / 5TH JYAISHTA, 1944
                      WP(C) NO. 17080 OF 2022
PETITIONER:

          GEORGEKUTTY T D
          AGED 56 YEARS
          S/O TV DANIEL, HOUSE NO. 33/1126G, THEKETHIL HOUSE,
          PONNURUNNI, CHALIKKVATTOM, JUMAMASJID ROAD, VYTILLA,
          COCHIN-682019.

          BY ADV S.MUMTAZ


RESPONDENT:

          THE FEDERAL BANK LTD.
          REP BY THE AUTHORIZED OFFICER, FEDERAL TOWERS, P B NO.
          103, ALUVA, ERNAKULAM KERALA - 683101.


OTHER PRESENT:

          SC,K.P SUJESH MENON


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17080 OF 2022

                                  2


               BECHU KURIAN THOMAS, J.
             ===========================
                W.P.(C) No.17080 of 2022
            ============================
                 Dated this the 26th 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.7,86,039/-. 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.Mumtaz Shumsuddin, learned counsel

for the petitioner as well as Shri.K.P.Sujesh Kumar, learned WP(C) NO. 17080 OF 2022

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 seven

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.7,86,039/- along with bank charges from the petitioner and

regularise the loan account of the petitioner on the following

conditions:

(a) The overdue amount of Rs.7,86,039/-shall be repaid in seven equated monthly instalments.

(b) The first instalment shall be paid on or before 26.06.2022 and the remaining instalments shall be paid on or before the 26 th of the succeeding months.

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

(d) In the event of default of any one WP(C) NO. 17080 OF 2022

instalment, the respondent bank shall be entitled to proceed in accordance with law.

(e) 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 ssa/ WP(C) NO. 17080 OF 2022

APPENDIX OF WP(C) 17080/2022

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF POSSESSION NOTICE DATED 04.02.2022 ISSUED BY THE RESPONDENT TO THE PETITIONER.

Exhibit P2 REQUEST LETTER DATED 04.04.2022 SUBMITTED BY THE PETITIONER TO THE RESPONDENT.