Muraleedharan. M vs The Authorised Officer
2023 Latest Caselaw 2755 Ker

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                   THE HONOURABLE MR. JUSTICE T.R.RAVI
     WEDNESDAY, THE 1ST DAY OF MARCH 2023 / 10TH PHALGUNA, 1944
                          WP(C) NO. 6576 OF 2023
PETITIONER:

              MURALEEDHARAN. M,
              AGED 62 YEARS
              S/O MADHAVAN, AKSHARA, MOTOR KUNNU, KARINGANNOOR P.O,
              OYOOR, KOLLAM DISTRICT, PIN - 691516.

              BY ADV A.JANI(KOLLAM)


RESPONDENTS:

     1        THE AUTHORISED OFFICER,
              SARFAESI, THE INDUSIND BANK LTD, KOLLAM BRANCH, VARINJAM
              TOWERS, RESIDENCY ROAD, CHAMAKKADA, KOLLAM, PIN - 691001.
     2        INDUSIND BANK LTD,
              REGIONAL OFFICE AT FIRST FLOOR, JAIN TOWERS 2, VARAPUZHA
              ROAD, NERA RAILWAY BRIDGE, EDAPPALLY, ERNAKULAM - 682024.
     3        THE BRANCH MANAGER,
              THE INDUSIND BANK LTD, KOLLAM BRANCH, VARINJAM TOWERS,
              RESIDENCY ROAD, CHAMAKKADA, KOLLAM, PIN - 691001.

              BY ADV VARGHESE C.KURIAKOSE


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6576 OF 2023

                                      2

                                T.R. RAVI, J.
                --------------------------------------------
                       W.P.(C) No.6576 of 2023
                    --------------------------------------------
               Dated this the 01st day of March, 2023

                               JUDGMENT

The petitioner has approached this Court seeking

permission to wipe off the liabilities to the respondent Bank in

instalments. The Counsel for the respondent Bank submits that

an amount of Rs.2,92,678/- is overdue.

In the above circumstances, the writ petition is disposed of

directing the petitioner to pay the amounts overdue to the

respondent Bank in 4 equal monthly instalments, along with

regular instalments, the first instalment becoming payable on or

before 29.03.2023 and the subsequent instalments becoming

payable on or before the 29 th day of the succeeding months. If

the entire defaulted amount is paid, the respondents shall

release the 5 vehicles and regularise the loan account. If the

petitioner makes two defaults in the payment of instalments, the

respondents will be at liberty to continue with coercive steps for WP(C) NO. 6576 OF 2023

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. 6576 OF 2023

APPENDIX OF WP(C) 6576/2023

PETITIONER'S EXHIBITS

Exhibit P1 A TRUE COPY OF THE STATEMENT OF ACCOUNT REGARDING THE VEHICLE ISSUED BY THE THIRD RESPONDENT TO THE PETITIONER.

Exhibit P2 A TRUE COPY OF THE RECEIPT OF LAST PAYMENT OF RS 36,000.00 TOWARDS EMI ON 16/11/2022. Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 02/06/2022.

Exhibit P4 A TRUE COPY OF M.C. NO: 176 OF 2023 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM, FILED BY THE 1ST RESPONDENT DATED 19/01/2023.

Exhibit P5 A TRUE COPY OF ORDER DATED 14/02/2023 M.C.

NO: 176 OF 2023 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM.

Exhibit P6 A TRUE COPY OF THE NOTICE WITH THE DATE 16/02/2023 ISSUED BY THE THIRD RESPONDENT TO THE PETITIONER.

Exhibit P7 A TRUE COPY OF NOTICE ISSUED BY THE THIRD RESPONDENT TO THE PETITIONER DATED 17/02/2023.