Aniljith Kuttappan vs The Authorized Officer
2023 Latest Caselaw 110 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 6TH DAY OF JANUARY 2023 / 16TH POUSHA, 1944
                             WP(C) NO. 24342 OF 2021
PETITIONERS:

     1        ANILJITH KUTTAPPAN
              AGED 54 YEARS
              CIVIL CONTRACTOR, RESIDING AT ANILJITH BHAVAN, BEELESWARAM
              P.O., KOTTARAKKARA, KOLLAM - 691 506.
     2        SULOCHANA
              AGED 46 YEARS
              W/O.K.ANILJITH, RESIDING AT ANILJITH BHAVAN, NEELESWARAM
              P.O., KOTTARAKKARA, KOLLAM - 691 506.
              BY ADVS.
              R.RAJESH (VARKALA)
              M.KIRANLAL
              MANU RAMACHANDRAN
              T.S.SARATH

RESPONDENT:

     1        THE AUTHORIZED OFFICER
              UNDER SECURITIZATION ACT, U.C.O.BANK, OFFICE AT U.C.O.BANK
              KOLLAM, KHASIE BUILDING, BEACH ROAD, KOLLAM - 691 001.
              BY ADVS.
              SREEKALA KRISHNADAS
              C.VIVEK

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
06.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.24342 of 2021
                                     2




                             JUDGMENT

Dated this the 06th day of January, 2023

The petitioners availed two separate credit facilities

from the respondent bank and committed default in

repayment. One of the facilities is a term loan while the

other is a cash credit facility.

2. Learned counsel appearing for the petitioners

would submit that the petitioners may be permitted to

clear the liability in instalments.

3. Learned counsel appearing for the respondent

bank would submit that in respect of the term loan, the

petitioners cannot regularise the account as the term of

the loan has already expired. It is submitted that the

outstanding amount in respect of the term loan as on

today is Rs.15,34,147/-. It is submitted that in respect

of the cash credit account, the bank can consider

renewing the facility on the petitioners remitting a sum

of Rs.30,00,000/- immediately.

4. Learned counsel appearing for the respondent WPC No.24342 of 2021

bank submitted that the bank has no objection in

granting some limited instalments to the petitioners to

clear the liability.

5. Learned counsel appearing for the petitioners

would submit that the petitioners will remit the sum

required to regularise the cash credit facility before

31.03.2023. It is submitted that on receipt of such

payment, the bank may be directed to consider

renewing that facility. It is submitted that the

petitioners may be permitted to clear the outstanding

amount in the term loan in ten (10) instalments.

6. I have heard the learned counsel for the

petitioners as well as the learned Standing Counsel for

the respondent.

7. Having regard to the circumstances of the case,

apart from the submissions made as recorded above,

this writ petition will stand disposed of in the following

manner:

(i) Petitioners shall pay a sum of Rs.30,00,000/-

towards the cash credit account in three (3) WPC No.24342 of 2021

equal monthly instalments payable on

31.01.2023, 28.02.2023 and 31.03.2023. On

such payment being received and on the

petitioner executing the documents necessary for

renewal, the bank shall consider the same as per

its norms;

(ii) The outstanding amount of Rs.15,34,147/- in

respect of the term loan together with any

accrued interest/costs shall be repaid in ten (10)

equated monthly instalments;

(iii) The first instalment in respect of the term loan

shall be paid on or before 31.01.2023 and

subsequent instalments shall be paid on or

before the last working day of every succeeding

month;

(iv) Petitioners shall continue to service the cash credit

facility along with the instalments as directed

above;

(v) In the event of default of any one instalment, the

respondent bank shall be entitled to proceed in WPC No.24342 of 2021

accordance with law;

(vi) 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.

Sd/-

GOPINATH P.

JUDGE SKP/06-01 WPC No.24342 of 2021

APPENDIX OF WP(C) 24342/2021

PETITIONERS' EXHIBITS EXHIBIT P1 A TRUE COPY OF THE PAGE OF 1ST PETITIONER'S CREDIT FACILITY STATEMENT ACCOUNT STATEMENT FROM 2018 TO 2019.

EXHIBIT P2 A TRUE COPY OF THE 13(2) NOTICE OF DEMAND ISSUED BY RESPONDENT DATED 18/12/2019. EXHIBIT P3 A TRUE COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER SREETHULEKSHMI G.K. TO PETITIONERS DATED 21/10/2021.

EXHIBIT P4 A TRUE COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER G.SUBHA TO PETITIONERS DATED 22/10/2021.

EXHIBIT P5 A TRUE COPY OF THE ORDER IN M.C.NO.13OF 2021 BY CHIEF JUDICIAL MAGISTRATE KOLLAM. RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE