Aneesh A.S vs Indusind Bank Ltd
2022 Latest Caselaw 5663 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR.JUSTICE N.NAGARESH
        FRIDAY, THE 27TH DAY OF MAY 2022 / 6TH JYAISHTA, 1944
                       WP(C) NO. 13509 OF 2022
PETITIONERS:

    1      ANEESH A.S.,
           AGED 38 YEARS,
           S/O. ANIRUDHAN,
           RESIDING AT A.S.BHAVAN,
           CHARUMMOODU, PUTHUKULANGARA,
           NEDUMANGADU, THIRUVANANTHAPURAM-695541.

    2      ANIRUDHAN G.,
           RESIDING AT A.S.BHAVAN,
           CHARUMMOODU, PUTHUKULANGARA,
           NEDUMANGADU, THIRUVANANTHAPURAM-695541.

           BY ADV S.SOUMYA ISSAC


RESPONDENTS:

    1      INDUSIND BANK LTD.,
           FIRST FLOOR, JAIN TOWER II,
           NEAR RAILWAY OVER BRIDGE,
           NH 14 BY-PASS,
           EDAPPALLY, KOCHI-662024,
           REPRESENTED BY ITS MANAGER.

    2      THE AUTHORIZED OFFICER,
           INDUS IND BANK LTD.,
           FIRST FLOOR, JAIN TOWER II,
           NEAR RAILWAY OVER BRIDGE,
           NH 14 BY-PASS,
           EDAPPALLY, KOCHI-662024

           SRI.VARGHESE C KURIAKOSE, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C)No.13509/2022

                                  2




                          JUDGMENT

Dated this the 27th day of May, 2022

The petitioners, who have availed a vehicle loan

from the 1st respondent-Bank, are before this Court seeking

to direct the 1st respondent-Bank to return the illegally

possessed vehicle TATA CLK1618 bearing Registration

No.KL-21S-3065 to the petitioners and keep in abeyance of

all recovery proceedings.

2. The petitioners state that the petitioners availed a

bank loan from the 1st respondent-Bank for purchase of a

Lorry. The petitioners were regularly paying monthly

instalments. Due to some financial crisis, the petitioners

could not repay the loan amount.

WP(C)No.13509/2022

3. The 1st respondent-Bank, without providing

opportunity to the petitioners to clear the outstanding

liabilities, issued a recovery notice on 08.03.2022 directing

to pay ₹1,75,000/- including penal interest. Subsequently,

the 1st respondent-Bank filed M.C. No.326 of 2022 before

the Chief Judicial Magistrate's Court, Thiruvananthapuram.

The petitioners' vehicle was seized by the Bank.

4. The petitioners submit that the vehicle is the

source of livelihood of the petitioners and unless the

respondents release the vehicle, the petitioners will be put

to untold hardship and loss. The petitioners are ready to

clear the entire liabilities, if a reasonable time is granted.

5. The learned Standing Counsel for the

respondents entered appearance and opposed the writ

petition. The learned Standing Counsel submitted that the

petitioners have availed a loan and committed deliberate

default. Inspite of repeated request made by the WP(C)No.13509/2022

respondents, the petitioners did not pay the loan

instalments. It is under such circumstances that the vehicle

was seized in due course of law. The respondents are

willing to release the vehicle only if the petitioners clear the

entire outstanding dues which as on date would amount to

₹3,38,713/-.

6. Heard the learned counsel for the petitioners and

the learned Standing Counsel representing the

respondents.

7. Going through the pleadings in the writ petition, it

is evident that the petitioners have been remitting the loan

instalments initially with promptitude. However, certain

instalments were defaulted. The vehicle is the only source

of livelihood of the petitioners. In the circumstances, this

Court is of the view that a reasonable view should be taken

by the respondents in the matter of releasing the vehicle. WP(C)No.13509/2022

8. The writ petition is therefore disposed of with the

following directions:

i) The petitioners shall remit an amount of ₹2 lakhs,

within a period of one month.

ii) The respondents shall release the vehicle to the

petitioners, if the petitioners remit the aforesaid ₹2 lakhs,

within a period of one month.

iii) The balance amount due to the petitioners

including the accruing interest and other charges, if any,

shall be paid in two equal consecutive monthly instalments

immediately thereafter.

iv) If the petitioners default in making the payment as

directed above, the respondents will be at liberty to proceed

against the petitioners, in accordance with law.

Sd/-

N. NAGARESH JUDGE SR WP(C)No.13509/2022

APPENDIX OF WP(C) 13509/2022

PETITIONER'S EXHIBITS:

Exhibit P1 NOTICE SEND BY THE RESPONDENT TO THE PETITIONER.

Exhibit P2 TRUE COPY OF THE COMMISSIONER REPORT IN M.C.NO.326/2022 BEFORE CJM COURT, TVM.

SR