Jayakumar.B vs The Authorized Officer
2022 Latest Caselaw 10373 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    FRIDAY, THE 7TH DAY OF OCTOBER 2022 / 15TH ASWINA, 1944
                    WP(C) NO. 30386 OF 2022
PETITIONERS:

    1     JAYAKUMAR.B
          AGED 42 YEARS
          S/O.BALAN
          DHAVALAKUZHY, NEAR PULLICHIRA MAYYANAD P.O KOLLAM,
          PIN - 691303
    2     VALSALA.T
          AGED 62 YEARS
          W/O BALAN, CHANGATTUVILA
          MAYYANAD,KOLLAM, PIN - 691303
          BY ADVS.
          M.AJITH (KARICODE)
          R.MOHANA BABU


RESPONDENTS:

    1     THE AUTHORIZED OFFICER
          CANARA BANK,KAKKOTTUMOOLA, MAYYANAD BRANCH, KOLLAM,
          PIN - 691303
    2     BRANCH MANAGER
          CANARA BANK,
          MAYYANADBRANCH,KOLLAM, PIN - 691303



OTHER PRESENT:

          SC,SRI.M. GOPIKRISHNAN NAMBIAR



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.10.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.30386 of 2022        2




        BECHU KURIAN THOMAS, J.
    ===========================
         W.P.(C) No.30386 of 2022
   ============================
                Dated this the 7h day of October, 2022


                            JUDGMENT

Petitioners had availed a cash credit facility from the

respondent bank. Petitioner committed default in repaying

the amount. Consequently, proceedings have been initiated

by the bank for recovery of the amounts due.

2. During the course of hearing, petitioners have

confined their relief to an opportunity for repaying the

outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank

that the petitioners committed default in repayment and

the outstanding amount is Rs.13,54,000/- . 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 outstanding amount in

limited instalments.

4. I have heard Shri.M.Ajith learned counsel for the

petitioner as well as Shri.M.Gopikrishnan Nambiar,

Standing Counsel for the respondent Bank.

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

petitioners can be granted an opportunity to repay the

outstanding amount in fifteen instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.13,54,000/- along with bank

charges from the petitioner on the following conditions:

i. The outstanding amount of Rs.13,54,000/- shall be repaid in fifteen equated monthly instalments.

ii. The first instalment shall be paid on or before 07.11.2022 and the remaining instalments shall be paid on or before the 7th of the succeeding months.

iii. In the event of default of any one instalment, the respondent bank shall be

entitled to proceed in accordance with law.

iv. In order to enable the petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

BECHU KURIAN THOMAS JUDGE jka/07.10.22

APPENDIX OF WP(C) 30386/2022

PETITIONERS EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 25.7.2022 ISSUED UNDER 13(2) OF THE SARFAESI ACT.