Kerala High Court
Abdul Jaleel vs Induslnd Bank Ltd on 11 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
2024:KER:83997
WP(C) NO. 39711 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
MONDAY, THE 11TH DAY OF NOVEMBER 2024 / 20TH KARTHIKA, 1946
WP(C) NO. 39711 OF 2024
PETITIONER/S:
1 ABDUL JALEEL,
AGED 53 YEARS
LILA DALE, 29/24OF, NETHAJI NAGAR, KOTTUVELI POST,
KUTHIRAVATTAM, KOZHIKODE, PIN - 673016
2 JUNAID,
AGED 28 YEARS
LILA DALE, 29/24OF,NETHAJI NAGAR, KOTTUVELI
POST,KUTHIRAVATTAM,KOZHIKODE, PIN - 673016
BY ADVS.
RAFEEK. V.K.
VICTOR ANTONY NOONE
NISHNA P.T.
ABDULLA JAMAL
LYDIA ELIZABETH KOVOOR
MUHAMMED BILAL
ANNLIYA FLEMIN
RESPONDENT/S:
1 INDUSLND BANK LTD,
MARINA REGENCY, 2TH FLOOR, YMCA CROSS ROAD, CALICUT, PIN -
673001
2 AUTHORIZED OFFICER,
REPRESENTED BY DEPUTY MANAGER AND POWER OF ATTORNEY HOLDER
AJUL.K, AGED 32 YEARS, S/O SURESH BABU, INDUSLND BANK,
MARINA REGENCY, 2TH FLOOR, YMCA CROSS ROAD, CALICUT, PIN -
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WP(C) NO. 39711 OF 2024
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673001
BY ADV VARGHESE C.KURIAKOSE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C) NO. 39711 OF 2024
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JUDGMENT
The petitioner had availed a vehicle loan of Rs.40,90,000/-
in the year 2022 from the respondent Bank. The loan was
utilized for acquiring an Audi Car Q7 45 TDI Premium Plus.
After taking the loan, the petitioner had made some payment;
however, he has committed defaults, and therefore, the Bank
has taken possession of the vehicle.
2.The learned counsel for the respondent Bank on
instructions submitted that as of today, the overdue amount is
Rs.11,98,354/- and the total outstanding is Rs.23,46,095/-. He
also submits that if the petitioner is willing to pay the overdue
amount in few instalments, as this court may fix, the Bank is
ready to regularize the loan account of the petitioner for
making payment in terms of the loan agreement, after
receiving the entire overdue amount.
3.Learned counsel for the petitioner submits that he is
willing to pay the entire overdue amount within a period of
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WP(C) NO. 39711 OF 2024
three months in three equal monthly instalments along with
regular instalments.
4.Considering the aforesaid submissions made on behalf
of the Bank, the present writ petition is disposed of on following
terms:-
1.The petitioner shall pay the overdue amount of
Rs.11,98,354/- along with regular instalments in
three monthly instalments.
2.The first instalment is to be paid on or before
25.11.2024, and the remaining two instalments are to
be paid on the 25th day of each succeeding month
thereafter.
3.After making the payment of the overdue amount as
directed above, the Bank shall hand over the
possession of the vehicle to the petitioner. The
petitioner thereafter will make the payment of the
first instalment regular instalments in terms of the
loan agreement.
4.In case of failure to make the payment of the first
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WP(C) NO. 39711 OF 2024
instalment or any of the other installments as
directed above, the Bank shall be free to proceed
further under the provisions of the SARFEASI Act and
rules made thereunder to realise its outstanding dues
from the petitioners.
With the aforesaid directions, the present writ petition is
disposed of.
Sd/-
D. K. SINGH
JUDGE
SJ
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WP(C) NO. 39711 OF 2024
APPENDIX OF WP(C) 39711/2024
PETITIONER EXHIBITS
Exhibit P2 TRUE COPY OF THE ORDER IN CMP 2091/2024 DATED
22.08.2024 PRONOUNCED BY THE CHIEF JUDICIAL
MAGISTRATE, KOZHIKODE
Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE
COMMISSIONER IN CMP 2091/2024 DATED 20.09.2024
BEFORE THE CHIEF JUDICIAL MAGISTRATE, KOZHIKODE
Exhibit P4 TRUE COPY OF THE SALE NOTICE PUBLISHED IN THE
INDIAN EXPRESS DAILY NEWSPAPER DATED 23.10.2024
Exhibit P1 TRUE COPY OF THE PAYMENT RECEIPT DATED FROM
11.08.2022 TO 22.01.2024
