Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS MONDAY, THE 21ST DAY OF FEBRUARY 2022 / 2ND PHALGUNA, 1943 PETITIONER: BABU THOMAS AGED 64 YEARS S/O V T THOMAS, RESIDING AT VETTICKAL HOUSE, ERANJAL, MUTTAMBALAM P O, KOTTAYAM-686004. BY ADV A.SHAFEEK (KAYAMKULAM) RESPONDENTS: 1 THE CHIEF MANAGER CANARA BANK, KANJIKUZHY BRANCH, ERSTWHILE, SYNDICATE BANK, KANJIKUZHY BRANCH, THEKKATTIL BUILDINGS, MUTTAMBALAM P O, KOTTAYAM-686004. 2 THE AUTHORIZED OFFICER CANARA BANK, KRISHNAPRIYA ARCADE, K K ROAD, MUTTAMBALAM P O, KOTTAYAM-686004. 3 THE DIVISIONAL MANAGER (SP AND D WING) CANARA BANK, HEAD OFFICE NO.112 J.C.ROAD, BANGALURU-530068. BY ADV. LEO GEORGE, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
BECHU KURIAN THOMAS, J.
----------------------------------------- W.P.(C) No. 5774 of 2022 ---------------------------------------- Dated this the 21st day of February, 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 is Rs.7,57,653/-. 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. A. Shafeek the learned counsel for the petitioner as well as Sri. Leo George, the learned standing counsel for the respondents.
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.7,57,653/- 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.7,57,653/- shall be repaid in ‘10’ equated monthly instalments.
(ii) The first instalment shall be paid on or before 21.03.2022.
(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 AJM APPENDIX OF WP(C) 5774/2022 PETITIONER’S EXHIBITS EXHIBIT P1 TRUE COPY OF THE REPAYMENT OF MODEL EDUCATION LOAN SCHEME FOR PERUSING HIGHER EDUCATION IN INDIA AND ABROAD (2015). EXHIBIT P2 TRUE COPY OF THE REPRESENTATION DATED 7.12.2019 SUBMITTED BY THE PETITIONER TO THE BRANCH MANAGER, SYNDICATE BANK. EXHIBIT P3 TRUE COPY OF THE LETTER DATED 23.12.2019 SENT BY THE BRANCH MANAGER, SYNDICATE BANK TO THE PETITIONER. EXHIBIT P4 TRUE COPY OF THE REPLY DATED 13.01.2019 SENT BY THE PETITIONER TO SYNDICATE BANK. EXHIBIT P5 TRUE COPY OF THE REPRESENTATION DATED 6.2.2020 SENT BY THE PETITIONER TO THE REGIONAL MANAGER, SYNDICATE BANK. EXHIBIT P6 TRUE COPY OF THE NOTICE DATED 7.2.2020 ISSUED BY THE CHIEF MANAGER, SYNDICATE BANK. EXHIBIT P7 TRUE COPY OF THE JUDGMENT DATED 13.03.2020 OF THIS HON'BLE COURT IN WPC NO.5809/2020. EXHIBIT P8 TRUE COPY OF THE REPRESENTATION DATED 1.5.2020 SUBMITTED BY THE PETITIONER TO THE 1ST RESPONDENT EXHIBIT P9 TRUE COPY OF THE EMAIL DATED 8/4/2020 BY THE DAUGHTER OF THE PETITIONER. EXHIBIT P10 TRUE COPY OF THE LETTER DATED 11.05.2020 SENT BY THE 1ST RESPONDENT TO THE PETITIONER. EXHIBIT P11 TRUE COPY OF THE NOTICE DATED AND RECEIVED BY THE PETITIONER. EXHIBIT P12 TRUE COPY OF THE LETTER DATED 4.6.2021 ISSUED BY THE 1ST RESPONDENT ALONG WITH LOAN REPAYMENT SCHEDULE . EXHIBIT P12(A) TRUE COPY OF THE NOTIFICATION NO.RBI/2021-22/31DOR.STR.REC.11/21. 04.048/2021-22 DATED 5/5/2021. EXHIBIT P13 TRUE COPY OF THE REPRESENTATION DATED BEFORE THE 1ST RESPONDENT. EXHIBIT P14 TRUE COPY OF THE REPLY DATED 6.10.2021 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. EXHIBIT P15 TRUE COPY OF THE REPRESENTATION DATED BEFORE THE 3RD RESPONDENT. EXHIBIT P16 TRUE COPY OF THE POSSESSION NOTICE DATED 5.2.2022 ISSUED BY THE 2ND RESPONDENT. RESPONDENTS’ EXHIBITS: NIL //TRUE COPY// PA TO JUDGE