Rajesh.R vs Indus Ind Bank Ltd
2024 Latest Caselaw 31174 Ker

Citation : 2024 Latest Caselaw 31174 Ker
Judgement Date : 1 November, 2024

Kerala High Court

Rajesh.R vs Indus Ind Bank Ltd on 1 November, 2024

WP(C) NO. 38292 OF 2024          1


                                                       2024:KER:81376




               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

              THE HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

    FRIDAY, THE 1ST DAY OF NOVEMBER 2024 / 10TH KARTHIKA, 1946

                        WP(C) NO. 38292 OF 2024

PETITIONER

             RAJESH.R.,
             AGED 44 YEARS
             S/O RAMACHANDRAN, RAJESH BHAVAN, CHAKKAI,
             KARIKKAKOM P.O., THIRUVANANTHAPURAM DISTRICT,
             PIN - 695007


             BY ADV LATHEESH SEBASTIAN


RESPONDENTS



    1        INDUS IND BANK LTD,
             STATE OFFICE, CFD JAIN TOWER II, VARAPPUZHA ROAD, NEAR
             RAILWAY OVER BRIDGE, EDAPPALLY, ERNAKULAM , REPRESENTED
             BY ITS ASSISTANT VICE PRESIDENT., PIN - 682024



    2        THE AUTHORIZED OFFICER UNDER THE SARFAESI ACT,
             STATE OFFICE, INDUS IND BANK, BCFD JAIN TOWER II,
             VARAPPUZHA ROAD, NEAR RAILWAY OVER BRIDGE, EDAPPALLY,
             ERNAKULAM, PIN - 682024
 WP(C) NO. 38292 OF 2024        2


                                                    2024:KER:81376
    3     THE BRANCH MANAGER,
          INDUS IND BANK LTD., VELLAYAMBALAM
          BRANCH,SASTHAMANGALAM P.O.,
          THIRUVANANTHAPURAM, PIN - 695010


          BY ADV VARGHESE C.KURIAKOSE

          SRI.VIPIN C.VARGHESE, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 38292 OF 2024               3


                                                              2024:KER:81376
                              JUDGMENT

===========

This writ petition has been filed by the petitioner seeking the

following reliefs:

"1. Call for the entire records relating to Ext.P1 and P2 from the respondents.

2. Issue a writ of mandamus or any other writ, directions or order directing the respondents to return the vehicle bearing Reg.No.KL-01 CG 2949 to the petitioner and permit the petitioner to repay the loan installments on such terms as fixed by this Hon'ble Court after regularizing the loan by paying the defaulted arrears in installments.

3. To dispense with the production of English translation of vernacular documents.

4. Such other relief that this Honourable Court may deem fit to render justice to the petitioner."

2. It is submitted that the vehicle, a car bearing Reg.No.KL-01

CG 2949 has been seized by the respondents alleging non payment of

EMIs. He seeks a direction to permit him to repay the loan amount in

installments and to enable him to take back the possession of the

2024:KER:81376 vehicle upon such payment.

3. Heard Sri.Varghese C. Kuriakose, the learned counsel

appearing on behalf of the respondents.

4. The learned counsel for the respondents submits that if the

petitioner remits an amount of Rs.2 lakhs by 07.11.2024, and agrees to

remit the entire overdue amounts in Equal Monthly Installments, the

respondent-Bank is ready and willing to regularize his account.

5. The learned counsel for the petitioner submits that the

petitioner is ready to abide by the said arrangement.

Taking note of the above said submission, the writ petition is

disposed of with the following directions:

1) The petitioner shall remit an amount of Rs.2,00,000/- on or

before 07.11.2024.

2) If the petitioner remits the amount as per condition No.(1)

hereinabove, the respondents-Bank shall regularize the loan account

and hand over possession of the vehicle that has been seized by them.

3) In case of any default by the petitioner in complying with the

2024:KER:81376 above arrangement, the petitioner shall surrender possession of the

vehicle to the respondents.