Allowed

Aravindan C v. the Authorised Officer

Kerala HC12 Aug 2014WP(C)/17124/2014

Case brief

AI extract

What is this about?

Petitioner sought release of a repossessed vehicle after complying with a prior stay condition. Court allowed release against payment of Rs. 6.5 lakhs and submission of future arrears in instalments, with revival of recovery proceedings upon future default.

What did the court decide?

Petitioner permitted release of vehicle on payment of Rs. 6.5 lakhs within one month and payment of defaulted arrears in three instalments.

Aravindan C Vs the Authorised Officer — Contract and Commercial Disputes | Kerala HC (2014)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN

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TUESDAY, THE 12TH DAY OF AUGUST 2014/21ST SRAVANA, 1936

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WP(C).No. 17124 of 2014 (M)

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PETITIONER :

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ARAVINDAN .C, S/O.C.KELAN,AGED 57 YEARS, CHALIL HOUSE, CSMC,DOWN BAZAR, MANANTHAVADI P.O., WAYANAD DISTRICT, PIN-670 645.

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BY ADVS.SRI.P.SREEKUMAR SRI.PRAKASH P.GEORGE

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RESPONDENT(S):

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1. THE AUTHORISED OFFICER, CORPORATION BANK, KALPATTA BRANCH,

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KALPATTA P.O.,WAYANAD DISTRICT-673 121.

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2. THE BRANCH MANAGER,

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CORPORATION BANK, KALPATTA BRANCH,

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KALPATTA P.O.,WAYANAD DISTRICT-673 121.

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R1 & R2 BY ADV. SRI.S.B.PREMACHANDRA PRABHU

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SRI.N.RAJENDRAN, SC, CORPORATION BANK

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 12-08-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 17124 of 2014 (M)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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P1 : COPY OF THE NOTICE DTD.19.12.2013 ISSUED BY THE 1ST RESPONDENT.

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P2 : COPY OF JUDGMENT IN WPC NO.8748 OF 2014 DTD. 8.4.2014 OF THIS HON'BLE COURT.

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P3 : COPY OF THE NOTICE DTD. 2.7.2014 SERVED ON THE PETITIONER BY THE ADVOCATE COMMISSIONER.

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P4 : COPY OF THE INVENTORY PREPARED WHILE TAKING THE VEHICLE INTO POSSESSION.

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RESPONDENT(S)' EXHIBITS:

NIL

/TRUE COPY/

P.A.TO.JUDGE

sts

K.VINOD CHANDRAN, J

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- - - - W.P.(C).No. 17124 of 2014

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- - - - Dated 12^th August, 2014

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JUDGMENT

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The petitioner is aggrieved with the repossession of one vehicle which he purchased with a loan availed of from the 2^nd respondent Bank. In fact, the loan was availed of for two vehicles and the 2^nd vehicle is still in the possession of the petitioner. When the petitioner approached this Court with the above writ petition, stay was granted on condition, which condition has been complied with. Petitioner seeks release of the other vehicle so that he can continue the payment in instalments.

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The learned counsel for the respondent Bank however, contends that there is an amount of Rs.13.59 Lakhs due as arrears as on today in the loan account. It is also pointed out that the petitioner had earlier come to this Court

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WP(C).17124/14

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and prayed for indulgence which was granted by Ext.P2 and the recovery proceedings were necessitated only because the petitioner failed to comply with the earlier order passed by this Court. The learned counsel would urge that repossession cannot be granted unless the arrears are paid.

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In the context of the petitioner's

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undertaking, it is deemed fit that the petitioner be permitted to get release of the vehicle on payment of Rs.6.5 Lakhs, within one month from today. On making such payment, vehicle shall be released and the petitioner shall continue to pay the defaulted arrears in three further instalments commencing from 12.10.2014 and on the 12^th of each succeeding month. On settlement of arrears, any future interest with respect to the defaulted arrears shall also be paid as demanded by the Bank, as

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WP(C).17124/14

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the next instalment. It is made clear that while paying off the arrears as per the instalment granted by this Court, petitioner would also be obliged to make the equated monthly instalments as per the original agreement. In case of two consecutive defaults, recovery proceedings against the petitioner would be revived from the stage at which it has been kept in abeyance and the petitioner would surrender the vehicles without demur to the respondent Bank. The above conditions would apply only if the amount of Rs.6.5 Lakhs directed to be paid initially, is made.

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Writ petition disposed of.

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Sd/-

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K.VINOD CHANDRAN Judge

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Mrcs

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//True Copy//

Aravindan C v. the Authorised Officer

Case brief

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Aravindan C v. the Authorised Officer

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