Amal Vm vs Federal Bank Ltd
2023 Latest Caselaw 1840 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
                THE HONOURABLE MR. JUSTICE T.R.RAVI
    WEDNESDAY, THE 1ST DAY OF FEBRUARY 2023 / 12TH MAGHA, 1944
                       WP(C) NO. 569 OF 2023
PETITIONER:

          AMAL VM
          AGED 31 YEARS
          S/O VENUGOPAL M.P
          PCD HOUSE, VENUGOPAL ESTATE,
          PURAKKADI , MEENANGADI PO,
          WAYANAD DISTRICT, PIN - 673 591

          BY ADVS.
          CHERIAN MATHEW POOTHICOTE
          GEORGE G.POOTHICOTE
          AJITH VILLY GEORGE


RESPONDENT:

          FEDERAL BANK LTD,
          REPRESENTED BY ITS AUTHORISED OFFICER
          MURALEEDHARAN MR,
          S/O RAGHVAN NAIR ASSITANT VICE PRESIDENT ,
          AND BRANCH HEAD , NO. 806(6)
          KALPETTA ARCADE,
          MAIN ROAD, NEW BUSTAND,
          KALPETTA WAYANAD , PIN - 673 121

          BY ADVS.
          SRI.V.JAYAPRADEEP, SC, FEDERAL BANK
          Mohan Jacob George
          P.V.PARVATHY (P-41)(K/000036/1991)
          REENA THOMAS(R-364)
          NIGI GEORGE(K/1169/2012)



          SRI. MOHAN JACOB GEORGE, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 569 OF 2023
                                       2



                             T.R.RAVI, J.
                      ----------------------------------------
                         WP (C) No.569 of 2023
                     -------------------------------------------
              Dated this the 01st day of February, 2023

                             JUDGMENT

The petitioner has availed of a vehicle loan and has

defaulted in payment. The Bank has initiated steps for

recovery. The petitioner challenges the same and seeks for

regularisation on payment of the overdue amounts.

2. The Standing Counsel appearing for the respondent

submits that this is the fourth time that the petitioner has

defaulted payments. On three occasions, the Bank had to rush

after him to get the amounts. It is submitted that as on date the

amount overdue is Rs.2,64,000/- and cost, and the total

outstanding comes to Rs.10,86,300/-. It is submitted that the

Bank is willing to consider regularisation, if the petitioner pays

off the entire overdue amount and cost within one week from

today and handover the original registration certificate of the

vehicle and the insurance documents and submits an

undertaking to produce the vehicle as and when demanded and

continues to pay the equated monthly instalments. The

submission of the Standing Counsel is justified. WP(C) NO. 569 OF 2023

3. In the above circumstances, this writ petition is

disposed of directing the petitioner to pay a sum of

Rs.2,64,000/- and cost within one week from today. The

petitioner shall handover the original registration and the

insurance papers before the Bank and give an undertaking to

the Bank to produce the vehicle as and when demanded. On

production of the documents and submission of the

undertaking, the respondent shall regularise the loan account.

The petitioner shall continue to pay the equated monthly

instalments and if any single default is made, the respondent

Bank will be at liberty to continue with recovery proceedings

without further notice.

Sd/-

T.R.RAVI

JUDGE sn WP(C) NO. 569 OF 2023

APPENDIX OF WP(C) 569/2023

PETITIONER'S EXHIBITS

Exhibit P1 A TRUE COPY OF THE STATEMENT OF THE PETITIONER

Exhibit P2 A TRUE COPY OF NOTICE ISSUED BY THE RESPONDENT BANK DATED 5 /1/2022

RESPONDENT'S EXHIBITS : NIL

//TRUE COPY// PA TO JUDGE