Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS MONDAY, THE 31ST DAY OF JANUARY 2022 / 11TH MAGHA, 1943 WP(C) NO. 2827 OF 2022 PETITIONER: RENJITH K DEVASSIA, AGED 36 YEARS, S/O. DEVASSIA THOMAS, KANJOOPARAMBIL HOUSE, AVALOOKUNNU P.O., ARYAD SOUTH, ALAPPUZHA, KERALA, 688 006. BY ADVS. SRI.S.SANAL KUMAR SMT.BHAVANA VELAYUDHAN SMT.T.J.SEEMA RESPONDENTS: 1 THE BRANCH MANAGER, RASMEC ALAPPUZHA IST FLOOR, KALLUPALATHIL BUILDING, CCSB ROAD, IRON BRIDGE P.O., ALAPPUZHA 688 012. 2 THE AUTHORISED OFFICER, ALAPPUZHA, VADAICANAL WARD, RAIBAN SHOPPING COMPLEX, ALAPPUZHA 688 011. ADV.JAYESH MOHAN KUMAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -:2:-
BECHU KURIAN THOMAS, J.
W.P.(C) No.2827 of 2022 Dated this the 31st day of January, 2022
JUDGMENT
Petitioner as borrower from the respondent bank, has committed default in repayment. Consequently, 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 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 28.01.2022 is Rs.5,67,257/-. 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 Sri.S.Sanal Kumar, learned counsel for the petitioner as well as Sri.Jayesh Mohan Kumar, the learned counsel for the respondents.
5. Having regard to the circumstances of the case and the
-:3:- 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 seven 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.5,67,257/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:
(i) The overdue amount of Rs.5,67,257/- shall be repaid in seven equated monthly instalments.
(ii) The first instalment shall be paid on or before 28.02.2022.
(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/- BECHU KURIAN THOMAS JUDGE vps -:4:- APPENDIX OF WP(C) 2827/2022 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE TITLE DEED NO. SRO. Exhibit P2 A TRUE COPY OF THE STATEMENT OF ACCOUNTS FOR THE PERIOD FROM SEPTEMBER, 2014 OF APRIL 2015. Exhibit P3 A TRUE COPY OF THE STATEMENT OF ACCOUNT FOR THE PERIOD FROM MAY 2015 TO APRIL 2016. Exhibit P4 A TRUE COPY OF THE STATEMENT OF ACCOUNTS PERTAINING TO THE PERIOD MAY 2016 TO APRIL 2017. Exhibit P5 A TRUE COPY OF THE NOTICE ISSUED TO THE PETITIONER DATED 18.10.2021 FROM THE IST RESPONDENT. Exhibit P6 A TRUE COPY OF THE NOTICE FROM THE ADVOCATE COMMISSIONER DATED 17.1.2022 TO THE PETITIONER.