Kerala High Court
Vijayan T.S vs M/S Induslnd Bank Ltd on 3 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 25756 OF 2024
1
2024:KER:67537
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
TUESDAY, THE 3RD DAY OF SEPTEMBER 2024 / 12TH BHADRA, 1946
WP(C) NO. 25756 OF 2024
PETITIONER:
VIJAYAN T.S.
AGED 48 YEARS
S/O SANKARANKUTTY, THANIMOOTTIL HOUSE, KUNINJI P.O.,
THODUPUZHA, PIN - 685583
BY ADVS.
JIJUMON H.
ARSHA SATHEESAN
PREMJI SUKUMAR
RESPONDENT:
M/S INDUSLND BANK LTD
ITS STATE OFFICE AT FIRST FLOOR, JAIN TOWER II, NEAR
RAILWAY OVER BRIDGE, N H BYPASS, EDAPPALLY, KOCHI
REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 682024
BY ADV K.RAJESH (AROOR)
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON
03.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 25756 OF 2024
2
2024:KER:67537
JUDGMENT
Dated this the 3rd day of September, 2024
The present Writ Petition has been filed seeking
the following prayers:
(i) Issue a writ, order or direction in the nature of
Mandamus, or such other writ, order or direction,
directing the respondent to return the vehicle to the
petitioner and to exclude penal interest and all extra
chares and permit the petitioner to settle the account by
offering him an opportunity to repay the overdue loan
amount to the respondent in 3 installments and by
regularize his loan account which has been classified as
NPA.
(ii) Issue a writ, order or direction quashing Exhibit P5
notice.
(iii) Such other appropriate writ, order or direction sought
for in the course of the proceedings.
2. The petitioner had obtained a vehicle loan of
Rs.2,15,677/- on 12.03.2020 from the respondent bank for
purchasing Mahindra Alfa Comfy passenger Diesel vehicle
bearing registration No.KL 38 H 9066. The said loan amount
together with interest at the rate of 17.91% per annum is
required to be repaid for a period of 90 months in monthly
instalment of Rs.6,510/-. Though the petitioner has repaid
Rs.2,43,628/- there is outstanding of Rs. 2,36,410/- and the
Overdue amount is Rs.69,180/-.
3. As the petitioner did not repay the loan in terms of the
WP(C) NO. 25756 OF 2024
2024:KER:67537
loan agreement, the respondent bank has repossessed the
vehicle.
4. The learned counsel for the petitioner submits that the
petitioner will pay an amount of Rs.50,000/- on or before
30.09.2024 and remaining Rs.19,180/- within a period of 15
days thereafter.
5. The learned counsel for the respondent bank submits
that on receiving payment of Rs.50,000/-, the bank shall
release the vehicle in favour of the petitioner. However, the
petitioner should continue to pay the regular instalments
after making payment of Rs.19,180/-.
Considering the said submission, the present writ
petition is disposed of, with a direction to the petitioner to
pay Rs.50,000 on or before 30.09.2024 and remaining
overdue amount of Rs.19,180/- on or before 15.10.2024. On
receiving Rs.50,000/- on or before 30.09.2024, the bank shall
release the vehicle in favour of the petitioner. After making
payment of the Overdue amount, the petitioner should
continue to make payment in terms of the loan agreement
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 25756 OF 2024
2024:KER:67537
APPENDIX OF WP(C) 25756/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED
BY INDUSIND BANK AS OF 13.06.2024
Exhibit P2 TRUE COPY OF THE DISCHARGE SUMMARY FROM
09.03.2023 TO 15.03.2023 FROM DISTRICT
HOSPITAL, THODUPUZHA
Exhibit P3 TRUE COPY OF THE DISCHARGE SUMMARY FROM
16.03.2023 TO 22.03.2023 FROM DISTRICT
HOSPITAL, THODUPUZHA
Exhibit P4 TRUE COPY OF THE NOTICE UNDER SECTION 13(2)
OF THE SARFAESI ACT 2002 DATED 17.05.2023
Exhibit P5 TRUE COPY OF THE PRE-SALE LETTER DATED
13.06.2023
