Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS TUESDAY, THE 25TH DAY OF JANUARY 2022 / 5TH MAGHA, 1943 PETITIONER/S: ROY SEBASTIAN, AGED 48 YEARS S/O.VARKEY DEVASY, KOCHUPARAMBIL HOUSE, CHIRAKONAM, VILAVOORKAL, PEYAD, THIRUVANANTHAPURAM-695 573. BY ADV G.MAHESWARY RESPONDENT/S: THE CHIEF MANAGER, STATE BANK OF INDIA, STRESSED ASSET RECOVERY BRANCH, LMS COMPOUND, OPP.MUSEUM WEST GATE, VIKAS BHAVAN P.O., THIRUVANANTHAPURAM-695 043. TOM K. THOMAS (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
BECHU KURIAN THOMAS, J.
======================== W.P.(C)No. 2647 of 2022 ------------------------------------------------ Dated this the 25th day of January, 2022
JUDGMENT
Petitioner availed five loans from the respondent Bank. Consequent to the default in repayment, proceedings have been initiated by the Bank for recovery of the amounts due.
2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in instalments.
3. It was submitted on behalf of the respondent-Bank that
the petitioner committed default in repayment and the outstanding amount is Rs.81,40,000/-. 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 outstanding amount in limited instalments.
4. I have heard Smt.G.Maheswary, the learned counsel for the petitioner as well as Sri.Tom K.Thomas, the learned Standing 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 petitioner can be granted an opportunity to repay the outstanding amount in 12 instalments.
6. Accordingly, there will be a direction to the
respondent-Bank to accept repayment of the entire outstanding amount of Rs.81,40,000/- along with bank charges from the petitioner on the following conditions: (i). The outstanding amount of Rs.81,40,000/- shall be repaid in '12' monthly instalments. ii). The first instalment shall be paid on or before 25.02.2022. (iii). In the event of default of any one instalment, the respondent-Bank shall be entitled to proceed in accordance with law.
(iv) In order to enable the petitioner to repay the entire
amounts, all coercive proceedings against the petitioner shall be kept in abeyance. The writ petition is disposed of as above. sd/ BECHU KURIAN THOMAS JUDGE jm/ APPENDIX OF WP(C) 2647/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE LAWYER NOTICE ISSUED BY THE LAWYER OF THE RESPONDENT BANK DATED 25.11.2021. Exhibit P2 THE TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER TO THE RESPONDENT DATED 30.11.2021. Exhibit P3 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT BANK DATED 16.08.2021. Exhibit P4 THE TRUE COPY OF THE PETITION IN MC NO.519/2021 FILED BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM DATED 27.09.2021. Exhibit P5 THE TRUE COPY OF THE ORDER IN MC NO.519/2021 DATED 27.10.2021 PASSED BY CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM. Exhibit P6 THE TRUE COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER DATED 14.01.2022.