Shamsuddeen C vs Kotak Mahindra Bank
2024 Latest Caselaw 11794 Ker

Kerala High Court

Shamsuddeen C vs Kotak Mahindra Bank on 30 April, 2024

Author: Kauser Edappagath

Bench: Kauser Edappagath

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
 TUESDAY, THE 30TH DAY OF APRIL 2024 / 10TH VAISAKHA, 1946
                  WP(C) NO. 16711 OF 2024
PETITIONER/S:

    1     SHAMSUDDEEN C.,
          AGED 34 YEARS, S/O HUSSAIN,
          OZHALAKUNNUMMAL HOUSE, ELETIL POST,
          KODUVALLY, KOZHIKODE, PIN - 673 572.

    2     RASHEEDA SHIRIN,
          AGED 28 YEARS, W/O SHAMSUDDEEN,
          OZHALAKUNNUMMAL HOUSE, ELETIL POST,
          KODUVALLY, KOZHIKODE, PIN - 673 572.

          BY ADV ARJUN S.


RESPONDENT/S:

    1     KOTAK MAHINDRA BANK,
          40, 9702 UA, KANAKADAMODAR BUILDING,
          VEEKSHANAM ROAD, ERNAKULAM, PIN - 682 035,
          REPRESENTED BY ITS BRANCH MANAGER,

    2     THE BRANCH MANAGER,
          KOTAK MAHINDRA BANK, 40, 9702 UA,
          KANAKADAMODAR BUILDING, VEEKSHANAM ROAD,
          ERNAKULAM, PIN - 682 035.
OTHER PRESENT:

          SRI. T.JEEJAN-STANDING COUNSEL


THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
    30.04.2024, THE COURT ON THE SAME DAY DELIVERED THE
                        FOLLOWING:
 WP(C) NO.16711 of 2024

                                  2



                         JUDGMENT

The petitioners availed a loan of Rs.57,19,200/- from

the 1st respondent Bank to purchase a commercial vehicle.

The petitioners defaulted repayment of the loan amount.

Hence, recovery proceedings were initiated against them.

2. The learned Counsel for the petitioners submits

that the petitioners are prepared to pay the entire loan

amount in 15 instalments. The learned counsel for the

respondents submits that the total amount due is

Rs.5,92,894/-.

Having heard both sides, this writ petition is disposed

of by giving an opportunity to the petitioners to pay entire

loan amount due as mentioned above along with interest in

10 equal monthly instalments commencing from

01.06.2024 onwards. The subsequent instalments shall be

paid by the petitioners on 5th day of every succeeding

months. Along with the aforesaid payment, regular monthly

instalment shall also be paid. In case of default on the part WP(C) NO.16711 of 2024

of the petitioner in payment of any of the instalments

including regular monthly instalments, the aforesaid facility

shall stand cancelled, upon which the Bank will be at liberty

to proceed with the recovery proceedings. Subject to the

above direction, the recovery proceedings against the

petitioners is directed to be kept in abeyance.

Sd/-

DR. KAUSER EDAPPAGATH, JUDGE

S.M.K. WP(C) NO.16711 of 2024

APPENDIX

PETITIONER'S EXHIBITS

Exhibit P1 A TRUE COPY OF THE RC BOOK OF THE VEHICLE HAVING REGISTRATION NUMBER KL 57 Z 3874 DATED 22.06.2023

Exhibit P2 A TRUE COPY OF THE NATIONAL PERMIT ISSUED BY THE MOTOR VEHICLES DEPARTMENT DATED 03.07.2023

Exhibit P3 A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENTS DATED 26.02.2024

Exhibit P4 A TRUE COPY OF THE JUDGMENT OF THIS HON'BLE COURT IN WP(C).NO.4738/2024 DATED 15.02.2024