Lajeesh K.B vs The Authorized Officer
2024 Latest Caselaw 11806 Ker

Kerala High Court

Lajeesh K.B vs The Authorized Officer 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. 16546 OF 2024
PETITIONER:

          LAJEESH K.B,
          AGED 44 YEARS
          S/O. LATE K.BALAN, RESIDING AT 8/253,
          KALIARAMBIL HOUSE, MALLYA'S COMPOUND,
          NULLIPADY, KASARAGOD P.O.,
          KASARAGOD DISTRICT, PIN - 671121

          BY ADVS.      T.MADHU
                        C.R.SARADAMANI
                        RENJISH S. MENON
                        VRINDA T.S.
                        AISWARYA JAYAPAL


RESPONDENTS:

    1     THE AUTHORIZED OFFICER,
          INDIAN BANK, ZONAL OFFICE,
          KOZHIKODE, PIN - 673011

    2     THE MANAGER,
          INDIAN BANK, KASARAGOD BRANCH,
          PIN - 671121


OTHER PRESENT:

          SC. SRI. BINOY VASUDEVAN

      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.16546/2024

                                        -:2:-




                        Dated this the 30th day of April, 2024

                            JUDGMENT

Petitioner availed three loans from the

respondent - Bank. The petitioner defaulted the

repayment of the loan amount. Hence, recovery

proceedings have been initiated against him.

2. The learned counsel for the petitioner submits

that the petitioner is prepared to clear off the overdue

amount in 20 monthly instalments.

3. The learned counsel for the respondents

submits that the total overdue amount would come to

Rs.7,50,000/-.

Having heard both sides, this writ petition is

disposed of granting an opportunity to the petitioner to

pay a sum of Rs.2,00,000/-(Rupees two lakh only)

within two weeks from today and clear off the balance

overdue amount due in 10 equal monthly instalments

commencing from 01.06.2024. Subsequent instalments

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

month. Along with the aforesaid payment, regular

monthly instalment shall also be paid. In case of

default on the part of the petitioner in payment of the

initial amount or any instalments thereafter, the

above-said facility shall stand cancelled and the Bank

will be at liberty to proceed with the recovery

proceedings. Subject to the above direction, the

recovery proceedings against the petitioner shall be

kept in abeyance.

Sd/-

                               DR. KAUSER EDAPPAGATH
                                         JUDGE
DST/02.05.24                                          //True copy//

                                                      P.A.To Judge







                              APPENDIX


PETITIONER EXHIBITS
EXHIBIT-P1          THE TRUE COPY OF THE NOTICE DATED 3/12/2022

ISSUED BY THE FIRST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002

EXHIBIT-P2 THE TRUE COPY OF THE NOTICE DATED 22/4/2024 ISSUED BY THE LEARNED ADVOCATE COMMISSIONER APPOINTED BY THE LEARNED CHIEF JUDICIAL MAGISTRATE'S COURT, KASARAGOD IN CMP

RESPONDENTS EXHIBITS : NIL