Vikraman Nair vs The Cholamandalam Investment And ...
2023 Latest Caselaw 4843 Ker

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                   THE HONOURABLE MR. JUSTICE T.R.RAVI
     THURSDAY, THE 13TH DAY OF APRIL 2023 / 23RD CHAITHRA, 1945
                         WP(C) NO. 13699 OF 2023
PETITIONER:

              VIKRAMAN NAIR
              AGED 60 YEARS
              S/O. KRISHNAN NAIR, SREESHYLAM, KOLLA, ANADU, TEMPLE,
              NEDUMANGADU, THIRUVANANTHAPURAM, PIN - 695568.

              BY ADV S.S.ARAVIND


RESPONDENT:

              THE CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD.
              REPRESENTED BY ITS AUTHORISED OFFICER.
              SASTHAMANGALAM BRANCH, THIRUVANANTHAPURAM, PIN - 695010.


              SRI. P. PAULOCHAN ANTONY, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 13699 OF 2023

                                       2

                                T.R. RAVI, J.
                --------------------------------------------
                      W.P.(C) No.13699 of 2023
                    --------------------------------------------
                Dated this the 13th day of April, 2023

                               JUDGMENT

The prayer in the writ petition is to permit the petitioner to

pay off the overdue amounts in the loan account availed from the

respondent in easy instalments and to regularise the loan

account. The Standing Counsel for the respondent on

instructions submits that the overdue amount is Rs.3,60,948/-.

In the above circumstances, the writ petition is disposed of

directing the petitioner to pay a sum of Rs.1,20,000/- (Rupees

one lakh twenty thousand only) on or before 15.05.2023 and the

balance amount in 6 equal monthly instalments, the first

instalment falling due on or before 15.06.2023 and the

subsequent instalments falling due on or before the 15 th of the

succeeding months. The petitioner shall also pay the regular

monthly instalments along with the instalments towards the

overdue amount as stated above. If the petitioner pays the entire WP(C) NO. 13699 OF 2023

overdue amount, the respondent shall regularise the loan

account. If the petitioner makes two defaults in the payment of

instalments, the respondent will be at liberty to continue with

coercive steps for recovery. The coercive steps initiated shall be

kept in abeyance to facilitate the payment of instalments as

directed above.

Sd/-

T.R.RAVI JUDGE mpm WP(C) NO. 13699 OF 2023

APPENDIX OF WP(C) 13699/2023

PETITIONER'S EXHIBITS

Exhibit-P1 TRUE COPY OF DISCHARGE CARD DATED 17.1.2023 ISSUED BY MEDICAL OFFICER, GOVERNMENT AYURVEDA HOSPITAL, NEYYATTINKARA. Exhibit-P2 TRUE COPY OF POSSESSION NOTICE DATED NIL ISSUED BY THE RESPONDENT BANK.

Exhibit-P3 TRUE COPY OF NOTICE DATED 24.3.2023 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM.