M/S Indusind Bank Ltd vs Sachin Joshy
2022 Latest Caselaw 10216 Ker

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                          PRESENT
          THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 15TH DAY OF SEPTEMBER 2022 / 24TH BHADRA, 1944
                    RP NO. 858 OF 2022

 AGAINST THE JUDGMENT DATED 22/08/2022 IN WP(C) 25383/2022
                  OF HIGH COURT OF KERALA
REVIEW PETITIONERS/RESPONDENTS:

   1   M/S INDUSIND BANK LTD
       GOWRI NARAYAN, NO. 40/8200,
       OPPOSITE JAYALAKSHMI SILKS,
       M.G.ROAD, KOCHI - 682 035.
       REPRESENTED BY ITS AUTHORISED OFFICER ANTONY XAVIER

   2   THE AUTHORISED OFFICER
       INDUSIND BANK LTD, GOWRI NARAYAN, NO. 40/8200,
       OPPOSITE JAYALAKSHMI SILKS, M.G.ROAD,
       KOCHI, PIN - 682 035.

       BY ADVS.
               G.HARIHARAN
               PRAVEEN.H.
               K.S.SMITHA
               M.V.VIPINDAS
               V.R.SANJEEV KUMAR
               ANJALY T.A


RESPONDENT/WRIT PETITIONER:

       SACHIN JOSHY
       AGED 30 YEARS, S/O JOSHY A CHEMPARATHY,
       CHEMPARATHY HOUSE, MUTHALAKODAM P.O, THODUPUZHA,
       IDUKKI DISTRICT - 685605,
       REPRESENTED BY HIS POWER OF ATTORNEY HOLDER
       SMT.SHIJI JOSHY, AGED 53 YEARS,
       W/O JOSHY A CHEMPARATHY, CHEMPARATHY HOUSE,
       MUTHALAKODAM P.O, THODUPUZHA,IDUKKI DISTRICT,
       PIN - 685 605.
 R.P. No.858 of 2022
                                         -:2:-



OTHER PRESENT:

              ADV. T T SHANIBA (FOR RESPONDENT)



       THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON
15.09.2022,           THE   COURT   ON    THE    SAME   DAY   DELIVERED   THE
FOLLOWING:
 R.P. No.858 of 2022
                             -:3:-


                          ORDER

Having heard the learned counsel for the review

petitioners and the learned counsel appearing for the writ

petitioner, this review petition is disposed of making it clear

that the respondent shall also clear the overdue amount in

respect of the vehicle bearing registration No.KL-38-G-675

amounting to Rs.11,63,656/- (Rupees Eleven Lakhs Sixty

Three Thousand Six Hundred and Fifty Six Only) also in

installments in the following manner.

(i) The respondent shall pay a lump-sum amount of

Rs.2,00,000/- (Rupees two lakhs only) towards the loan

liability on or before 26.09.2022;

(ii) The balance overdue amounts along with accrued

charges and interest shall be repaid in Eight equated

monthly instalments;

(iii) The first instalment shall be paid on or before

17.10.2022 and the subsequent instalments shall be paid on

or before the 17th day of each succeeding month; R.P. No.858 of 2022

(iv) On payment of the initial amount of Rs.2,00,000/-,

vehicle of the petitioner bearing registration No.KL-38-G-

675 shall be returned to him, if physical possession has

already been taken;

(v) The respondent shall not alienate or encumber the

vehicle in any manner and in the event of default of any

instalment, respondent shall hand over possession of the

vehicle to the authorised officer of the respondent bank;

(vi) Respondent shall continue to pay the regular

EMI's/instalments along with the instalments directed

above;

(vii) In order to enable the respondent to repay the

entire amounts as above, all coercive proceedings shall be

kept in abeyance. The Review Petition is disposed of as

above.

Sd/-

GOPINATH P.

JUDGE ats