Rajesh V V vs the Manager

Rajesh V V vs The Manager

Type Court Judgment Court Kerala Decided Aug 16, 2023

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https://sooperkanoon.com/case/1383004

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Citation: sooperkanoon.com/1383004
Court: Kerala High Court
Judge: Honourable Mr. Justice Gopinath P.
Decided On: Aug 16, 2023
Case Number: WP(C)/26946/2023

Parties & Advocates

Appellant / Petitioner

Rajesh V V

Respondent

The Manager

Excerpt

.....the following:judgmentthe petitioner availed a mortgage loan from the respondent bank. on default being committed, revenue recovery proceedings have been contemplated against the petitioner under the provisions of the kerala revenue recovery act, prompting the petitioner to approach this court by filing the above writ petition.2. during the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.3. it was submitted on behalf of the respondent bank that thepetitioner committed default in repayment and the overdue amount as on today is rs.3,10,000/-(rupees three lakhs ten thousand only). it was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.4. i have heard the learned counsel for the petitioner as well as the learned counsel for the respondent.5. having regard to the circumstances of the case and thesituation now prevailing, apart from the submissions made as recorded above, i am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.6. accordingly, there will be a direction to the respondent bankto accept repayment of the entire overdue amount of rs.3,10,000/- (rupees three lakhs ten thousand only) along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner on the following conditions:i. the overdue amount of rs.3,10,000/-(rupees three lakhs ten thousand only) along with any accrued interest, costs and charges shall be repaid in 10 equated monthly instalments. ii. the first instalment shall be paid on or before 05.09.2022 and the.....

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 16TH DAY OF AUGUST 2023 / 25TH SRAVANA, 1945 PETITIONER: RAJESH V V, AGED 50 YEARS, S/O VELAYUDHAN ,SREE GOURI SADHAN , VELIPARAMBIL HOUSE, THIRUVAMBADI (P.O),THRISSUR DT - 680 001. BY ADVS. M.R.REENA P.S.SUJETH RESPONDENT: THE MANAGER, THE KERALA STATE CO-OP BANK THRISSUR MAIN BRANCH, KURUPPAM ROAD, THRISSUR, PIN - 680 001. BY SRI. P C SASIDHARAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

The petitioner availed a mortgage loan from the respondent Bank. On default being committed, Revenue Recovery proceedings have been contemplated against the petitioner under the provisions of the Kerala Revenue Recovery Act, prompting the petitioner to approach this Court by filing the above writ petition.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

3. It was submitted on behalf of the respondent bank that the

petitioner committed default in repayment and the overdue amount as on today is Rs.3,10,000/-(Rupees three lakhs ten thousand only). It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as well as the learned counsel for the respondent.

5. Having regard to the circumstances of the case and the

situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

6. Accordingly, there will be a direction to the respondent bank

to accept repayment of the entire overdue amount of Rs.3,10,000/- (Rupees three lakhs ten thousand only) along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner on the following conditions:

i. The overdue amount of Rs.3,10,000/-(Rupees three lakhs ten thousand only) along with any accrued interest, costs and charges shall be repaid in 10 equated monthly instalments. ii. The first instalment shall be paid on or before 05.09.2022 and the subsequent instalments shall be paid on or before the 05 th day of every succeeding month. iii. Petitioner shall continue to pay the regular EMI’s along with the instalments directed above. iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law. v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE

DK APPENDIX OF WP(C) 26946/2023 PETITIONER EXHIBITS Exhibit-P 1 A TRUE COPY OF THE NOTICE PRIOR TO THE RR PROCEEDINGS DATED 28-07-2023 Exhibit-P 2 A TRUE COPY OF THE REPRESENTATION DATED 04-08-2023 SENT BY THE PETITONER

Same Court & Year Kerala · 2023 Same Parties Rajesh V V vs The Manager Same Judge Honourable Mr. Justice Gopinath P.