Arch Antony vs Kerala Financial Corporation
2024 Latest Caselaw 10478 Ker

Kerala High Court

Arch Antony vs Kerala Financial Corporation on 11 April, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
    THURSDAY, THE 11TH DAY OF APRIL 2024 / 22ND CHAITHRA, 1946
                      WP(C) NO. 14036 OF 2024
PETITIONER:

          ARCH ANTONY, AGED 49 YEARS,
          S/O. ANTONY ABRAHAM, ARCH VIEW,
          KALANJOOR POST, PATHANAMTHITTA,
          PIN - 689694.

          BY ADVS.
          SABU S.KALLARAMOOLA
          AJITHA V.K. NAIR


RESPONDENT:

          KERALA FINANCIAL CORPORATION,
          SARB-52, VELLAYAMBALAM,
          THIRUVANANTHAPURAM,
          REP.BY ITS BRANCH HEAD, PIN - 695033.

          BY ADVS.
          ADV. VENUGOPAL M.R.
          DHANYA P.ASHOKAN (SR.)(K/001671/2000)
          S. MUHAMMAD ALIKHAN(K/000644/2020)
          ATHULYA V.R.(K/000850/2021)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 14036 OF 2024
                                       -2-

                                 JUDGMENT

When this matter was called today,

Smt.Dhanya P.Ashokan, learned Senior Counsel,

instructed by Smt.Athulya V.R. appearing for the

respondent - Kerala Financial Corporation,

submitted that, even though the total

outstanding in the loan account of the

petitioner is as high as Rs.6.13 Crores, he can

be allowed to regularize the same, if he pays

the overdue amount of Rs.1.21 Crores, as on

05.04.2024, in not more than 12 equal monthly

installments, provided he pays the same along

with regular EMIs without default.

2. Sri.S.Sabu - learned counsel for the

petitioner, accepted the afore suggestion.

Taking note of the afore submissions, I

allow this writ petition and permit the

petitioner to pay off the aforesaid overdue

amount, along with all applicable charges and WP(C) NO. 14036 OF 2024

interest, in 12 installments, commencing from

01.06.2024. These payments shall be made along

with the regular EMIs, without any default in

either of them.

Needless to say, if the overdue amount is

paid by the petitioner as afore, his account

will stand regularized; but should he default in

payment of any two installments, as ordered by

this Court, or any of the regular EMIs, then the

benefit of this judgment will be lost to him;

and necessary recovery action can be continued

against him, without the Bank having to obtain

any further orders from this Court.

Sd/-

                                   DEVAN RAMACHANDRAN
akv                                        JUDGE
 WP(C) NO. 14036 OF 2024


              APPENDIX OF WP(C) 14036/2024

PETITIONER EXHIBITS

EXHIBIT-P1        TRUE COPY OF DEMAND NOTICE DATED 19-
                  03-2024 ISSUED BY RESPONDENT

EXHIBIT-P2        TRUE COPY OF REPLY DATED 30-03-2024 OF
                  THE PETITIONER