T.Unnikrishnan vs The Federal Bank Ltd, Represented ...
2023 Latest Caselaw 3445 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
                THE HONOURABLE MR. JUSTICE T.R.RAVI
      FRIDAY, THE 24TH DAY OF MARCH 2023 / 3RD CHAITHRA, 1945
                      WP(C) NO. 10055 OF 2023
PETITIONER:

          T.UNNIKRISHNAN
          AGED 49 YEARS
          S/O. SUBRHAMANYAN, THANIKKOTTIL HOUSE, VENGASSERY P.O,
          AMBALAPPARA-I, PALAKKADU, PIN - 679516

          BY ADVS.
          S.S.ARAVIND
          PRASANTH K.V



RESPONDENT:

          THE FEDERAL BANK LTD,
          REPRESENTED BY AUTHORISED OFFICER,
          LCRD /ERNAKULAM DIVISION, GROUND FLOOR, FEDERAL TOWERS,
          MARINE DRIVE, COCHIN., PIN - 682031

          BY ADV P.PAULOCHAN ANTONY, SC




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 10055 OF 2023               2




                             T.R. RAVI, J.
              --------------------------------------------
                      W.P.(C).No.10055 of 2023
               --------------------------------------------
                Dated this the 24th day of March, 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 on instructions submits that the overdue

amount is Rs.18,38,000/-.

In the above circumstances, the writ petition is disposed of

directing the petitioner to pay off the overdue amount of

Rs.18,38,000/- in 10 equal monthly instalments, the first instalment

falling due on or before 24.04.2023 and the subsequent instalments

falling due on or before the 24 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 overdue amount, the respondent shall

regularise the loan account. If the petitioner makes a single default 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

LEK

APPENDIX OF WP(C) 10055/2023

PETITIONER EXHIBITS

Exhibit-P1 TRUE COPY OF THE POSSESSION NOTICE DATED 23.1.2023 ISSUED BY THE RESPONDENT BANK