Kerala High Court
Biju.K vs Kotak Mahindra Bank on 15 February, 2024
Author: V Raja Vijayaraghavan
Bench: V Raja Vijayaraghavan
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
THURSDAY, THE 15TH DAY OF FEBRUARY 2024 / 26TH MAGHA, 1945
WP(C) NO. 4738 OF 2024
PETITIONER:
BIJU.K
AGED 48 YEARS
S/O KARUNAKARAN PILLAI, BIJU MANDIRAM, PALLIMON P.O,
PALLIMON, KOLLAM DISTRICT, PIN - 691576
BY ADVS.
P.MOHAMED SABAH
LIBIN STANLEY
SAIPOOJA
SADIK ISMAYIL
R.GAYATHRI
M.MAHIN HAMZA
ALWIN JOSEPH
RESPONDENT:
KOTAK MAHINDRA BANK
COCHIN BRANCH, ERNAKULAM, OPPOSITE HOTEL
INTERNATIONAL, KANAKA DAMODAR BUILDING, VEEKSHANAM
ROAD, ERNAKULAM DISTRICT, REPRESENTED BY ITS BRANCH
MANAGER., PIN - 682035
SRI T JEEJAN, SC FOR KOTAK MAHINDRA BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 15.02.2024, ALONG WITH WP(C).4700/2024, THE COURT ON THE
SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).Nos 4738 & 4700 of 2024 2
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
THURSDAY, THE 15TH DAY OF FEBRUARY 2024 / 26TH MAGHA, 1945
WP(C) NO. 4700 OF 2024
PETITIONER:
BIJU.K
AGED 48 YEARS
S/O KARUNAKARAN PILLAI, BIJU MANDIRAM, PALLIMON P.O,
PALLIMON, KOLLAM DISTRICT, PIN - 691576
BY ADVS.
P.MOHAMED SABAH
LIBIN STANLEY
SAIPOOJA
SADIK ISMAYIL
R.GAYATHRI
M.MAHIN HAMZA
ALWIN JOSEPH
RESPONDENT:
KOTAK MAHINDRA BANK
COCHIN BRANCH, ERNAKULAM, OPPOSITE HOTEL
INTERNATIONAL, KANAKA DAMODAR BUILDING, VEEKSHANAM
ROAD, ERNAKULAM DISTRICT, REPRESENTED BY ITS BRANCH
MANAGER., PIN - 682035
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 15.02.2024, ALONG WITH WP(C).4738/2024, THE COURT ON THE
SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).Nos 4738 & 4700 of 2024 3
JUDGMENT
The petitioner had availed two loans for a sum of Rs.50 lakhs each for
the purpose of purchasing commercial vehicles. According to the petitioner
he is running a brick unit in Kollam District. As he suffered business loss, he
was not able to make regular payments. It is on these assertions that this
writ petition is filed seeking regularization of loan account and to allow the
petitioner to pay the overdue amount in installments.
2. The learned Standing counsel appearing for the respondent
submitted that the total outstanding in respect of each loan is 41,60,000/
each. The overdue amount in one loan is 12,29,636/- and the other loan is
Rs.11,87,530/-.The learned counsel submits that the respondent has no
objection in granting an opportunity to the petitioner to pay the amount in
installments.
3. The learned Standing Counsel appearing for the respondent
submits that if the petitioner remits the overdue amount in 4 installments,
the account can be regularized. The learned counsel for the petitioner
submits that he shall make remittance of Rs.2 lakh each within one month in
W.P.(C).Nos 4738 & 4700 of 2024 4
respect of each of the loans and the balance payment shall be made in 8
installments.
4. I have considered the submissions and have carefully gone
through the records.
5. From the submissions made by both sides, it appears that the
overdue amount in one loan is 12,29,636/- and the other loan is
Rs.11,87,530/-. As the respondent has not objected to granting an
installment facility to the petitioner to clear off the dues, I am of the view
that necessary directions can be issued to enable the petitioner to clear the
amounts due to the respondents.
Resultantly, this writ petition is ordered, and the following directions
are issued:
i) The petitioner shall effect payment of a sum
of Rs.2 lakhs each within a period of one month.
(ii) Simultaneously, the petitioner shall approach
the financier with a request to inform him of the
details of the outstanding amount, together with
interest and other charges due from him in
respect of the loan accounts. If such a request is
made within two weeks from the date of receipt
W.P.(C).Nos 4738 & 4700 of 2024 5
of a copy of this judgment, the respondent Bank
shall forthwith issue a statement in writing
detailing the amounts
(iii) On receipt of such a statement, the petitioner
shall pay the amounts shown therein in eight (8)
equal monthly installments commencing from
15.4.2024 and continue to pay the same on every
successive month thereafter until the entire loan
is wiped off.
(iv) It is made clear that if the petitioner commits
default in respect of any installments, he will lose
the benefit of this judgment, and the concerned
respondents will be free to initiate proceedings
against him from the stage at which he presently
stands and recover the entire amount along with
interest and other charges.
(v) It is further made clear that no application for
an extension of time will be entertained.
Sd/-
RAJA VIJAYARAGHAVAN V,
JUDGE
IAP
W.P.(C).Nos 4738 & 4700 of 2024 6
APPENDIX OF WP(C) 4700/2024
PETITIONER'S EXHIBITS:
Exhibit P1 TRUE COPY OF THE REGISTRATION CERTIFICATE OF
THE VEHICLE BEARING REGISTRATION NO.
KL-02-BQ-5147
W.P.(C).Nos 4738 & 4700 of 2024 7
APPENDIX OF WP(C) 4738/2024
PETITIONER'S EXHIBITS:
Exhibit P1 TRUE COPY OF THE REGISTRATION CERTIFICATE OF
THE VEHICLE BEARING REGISTRATION NO.
KL-02-BQ-5189
