Velayudhan C vs Kerala Bank Ltd
2024 Latest Caselaw 11797 Ker

Kerala High Court

Velayudhan C vs Kerala Bank Ltd 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. 16740 OF 2024

PETITIONER:

              VELAYUDHAN C
              AGED 50 YEARS
              S/O CHELLY, RESIDING AT CHEMBAMARIL HOUSE, PILATHARA,
              KADAMBUZHA P.O, MALAPPURAM, PIN - 676553

              BY ADVS.
              VIJAY SANKAR V.H.
              AYISHA RIFATH K.
              AMRUTHA P S


RESPONDENT:

              KERALA BANK LTD
              REPRESENTED BY AUTHERISED OFFICER,     KOTTAKKAL BRANCH,
              MALAPPURAM DISTRICT, PIN - 676503


OTHER PRESENT:

              GILBERT GEORGE CORREYA, SC

      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. 16740 OF 2024
                                     2



                               JUDGMENT

The petitioner had availed a loan of Rs.19,00,000/- in the year

2018 from the respondent bank. The petitioner has defaulted the

repayment of the loan amount and hence recovery proceedings

have been initiated.

2. The learned counsel for the petitioner submits that the

petitioner is ready to clear off the entire loan amount in 13 equal

monthly installments.

3. The learned counsel for the respondent submits that the

total outstanding amount due is Rs.31,01,448/- and the overdue

amount is Rs.14,99,355/-.

Having heard both sides, this writ petition is disposed of as

follows:

(i) The petitioner shall remit a sum of Rs.5,00,000/- within a

period of one month from today.

(ii) The petitioner shall clear off the entire balance overdue

amount in 15 equal monthly installments commencing from

01/06/2024 onwards, along with regular EMI. The subsequent

installment shall be paid by the petitioner on 5 th day of every

month. In case of default on the part of the petitioner in payment

of the initial amount of Rs.5,00,000/- or any of the installment WP(C) NO. 16740 OF 2024

thereafter, the aforesaid facility shall stand cancelled and the bank

will be at liberty to proceed with the recovery proceedings.

Subject to the above directions, the recovery proceedings

against the petitioner shall be kept in abeyance.

SD/-

DR. KAUSER EDAPPAGATH JUDGE

rp WP(C) NO. 16740 OF 2024

APPENDIX OF WP(C) 16740/2024

PETITIONER EXHIBITS

Exhibit P-1 A TRUE COPY OF THE JUDGEMENT OF THIS HON'BLE COURT IN WP(C) NO.14220/2023 DATED 18/04/2023 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT-P1

Exhibit P 2 A TRUE COPY OF THE CASH RECEIPT DATED 24/07/2023 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT-P2.

Exhibit P 3 A TRUE COPY OF THE CASH RECEIPT DATED 20/02/2024 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT-P3.

Exhibit P 4 A TRUE COPY OF THE REVENUE RECOVERY NOTICE ISSUED BY THE RESPONDENT DATED 16/04/2024 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT-P4