Taniya P vs Indian Bank
2024 Latest Caselaw 26733 Ker

Citation : 2024 Latest Caselaw 26733 Ker
Judgement Date : 5 September, 2024

Kerala High Court

Taniya P vs Indian Bank on 5 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

                                                      2024:KER:67587

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

          THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH

     THURSDAY, THE 5TH DAY OF SEPTEMBER 2024/14TH BHADRA, 1946

                       WP(C) NO. 31334 OF 2024

PETITIONER:

          TANIYA P
          AGED 65 YEARS, W/O R. SASIDHARAN,
          SHAJI NIVAS, MADRESAVELI, PUNAPPRA P.O,
          ALAPPUZHA, PIN - 688004

          BY ADV M.A.SULFIA


RESPONDENTS:

          INDIAN BANK,
          PB NO. 3814, MULLACKAL,
          IRON BRIDGE P.O, ALAPPUZHA;
          REPRESENTED BY AUTHORISED OFFICER/CHIEF MANAGER,
          PIN - 688011

          SRI. BINOY VASUDEVAN-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No. 31334 of 2024
                                            2
                                                                    2024:KER:67587



                               JUDGMENT

The present writ petition has been filed for the

following prayers:

"1. Issue a writ of mandamus directing the respondent to regularize the loan account by permitting the petitioner to pay the overdue amount in installments.

2. Such other reliefs which this Hon'ble Court deem fit and proper to grant in the nature and course of the proceedings."

2. The petitioner along with her son availed

a housing loan of Rs.50 lakhs in the year 2018 by

mortgaging their property of 4.09 Ares of land having a

two storied residential building of 2000 Sq feet

consisting of four bedrooms in Sy.No. 270/16-2,

Punnapra Village, Ambalapuzha Taluk, Alapuzha District.

The petitioner has failed to make the payment of the

loan in terms of the loan agreement and as of today the

total outstanding is Rs.70,14,336/-. The overdue

amount itself is around Rs.22 lakhs.

3. Learned Counsel for the Bank submits

that if the petitioner pays substantial amount upfront

2024:KER:67587

and agrees to pay the remaining overdue amount along

with the regular installments in few installments as this

Court may direct, the Bank will regularize the loan

account of the petitioner for making payment in terms of

the loan agreement.

4. Considering the aforesaid submission of

the learned Counsel for the respondent Bank, the

present writ petition is disposed of on the following

terms:

(i) The petitioner shall remit upfront amount of Rs.5

lakhs on or before 05.10.2024 and the remaining

overdue amount in ten equal monthly installments along

with the regular installment.

(ii) The first installment is to be paid on or before

07.11.2024 and the remaining nine installments on or

before 7th day of each succeeding months along with

regular installments.

(iii) In case of failure to make payment of the upfront

amount of Rs.5 lakhs or any of the installments as

directed above, the Bank shall be free to proceed against

2024:KER:67587

the petitioner in accordance with law.

(iv) After making payment of the entire overdue amount

along with regular installments, the Bank shall regularize

the loan account of the petitioner for getting the further

payment in terms of the loan agreement.

Sd/-

DINESH KUMAR SINGH JUDGE ARK

2024:KER:67587