Partly allowed

George P.J v. the Authorized Officer

Kerala HC2 Jun 2017WA/1001/2017

Case brief

AI extract

What is this about?

The Court disposed of the writ appeal by allowing a last indulgence to defaulting debtors. It directed monthly deposits of ₹1 lakh to liquidate an overdraft and partially settle housing loans, conditional on regularisation after full payment of dues.

What did the court decide?

Directed appellants to deposit ₹1 lakh per month from June 2017 to liquidate overdraft and partial loan dues; loans to be regularized upon full payment.

George P.J Vs the Authorized Officer — Banking and Recovery | Kerala HC (2017)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE THE CHIEF JUSTICE MR.NAVANITI PRASAD SINGH &

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THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V

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FRIDAY, THE 2ND DAY OF JUNE 2017/12TH JYAISHTA, 1939

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WA.No. 1001 of 2017 () IN WP(C).13471/2017

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-------------------------------------------AGAINST THE JUDGMENT IN WP(C)No.13471/2017 DATED 12.4.2017 ----------------

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APPELLANT(S)/PETITIONERS :-

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1. GEORGE P.J, AGED 67 YEARS, S/O. JOSEPH P.A, RESIDING 11F, DD PLATINUM PLANET, KATHRIKKADAVU, COCHIN - 682 017.

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2. MRS.RACHEL GEORGE, AGED 53 YEARS, W/O. GEORGE P.J, RESIDING 11F, DD PLATINUM PLANET, KATHRIKKADAVU, COCHIN - 682 017.

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BY ADV. SRI.T.K.ANANDA KRISHNAN

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RESPONDENT(S)/RESPONDENTS :-

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1. THE AUTHORIZED OFFICER, CANARA BANK, M.G ROAD BRANCH, ERNAKULAM - 682 011.

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2. THE BRANCH MANAGER, CANARA BANK M.G ROAD BRANCH, ERNAKULAM - 682 011.

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BY SRI.P.GOPINATH MENON, SC

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THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 02-06-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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NAVANITI PRASAD SINGH, CJ &

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RAJA VIJAYARAGHAVAN V., J

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W.A. No.1001 of 2017

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Dated this the 2^nd day of June 2017

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J U D G M E N T

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Navaniti Prasad Singh, CJ

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The present writ appeal is by the defaulting debtors against the judgment dated 12.4.2017 passed by the learned Single Judge in W.P.(C) No.13471 of 017.

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Learned counsel for the appellants fairly concedes that the appellants have been chronic defaulters, but, submits that it was beyond their control. They seek indulgence to save their residential house.

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Learned counsel for the Canara Bank submits that the Bank is not interested in taking over their property. They are only interested in securing and receiving payments of their debts. Learned counsel further points out that the appellants

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had availed of two housing loans, in respect of which, the total defaulted amounts are about 1,90,000/- and 2,05,000/-

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W.A. No.1001 of 2017

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-: 2 :-

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respectively. In addition, the appellants had taken an overdraft facility, in which, the total over drawn amount stands about `8.20 lakhs.

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Having considered the matter and having heard learned counsel on both sides and with their consent, this writ appeal is disposed of at this stage itself with the following directions :-

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(i) We direct the appellants to deposit a sum of `1,00,000/- (Rupees One lakh only) per month within the first week of every month, starting from this month itself (from June, 2017 onwards). The amount so deposited to be appropriated as follows :-

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(a) 10,000/- for the first housing loan, 10,000/- for the second housing loan and `80,000/- in respect of the overdraft.

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(ii) It is expected that if payments are made accordingly, then by the end of 12 months, the overdraft should be completely liquidated and substantial part of the defaulted amounts towards two housing loans as noticed above should also be liquidated.

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W.A. No.1001 of 2017

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-: 3 :-

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(iii) The appellants would continue to pay `1,00,000/per month even thereafter, which would take care of the accrued interest and the balance of the defaulted amounts of the two housing loans.

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(iv) Once the defaulted amounts are fully paid up, the two housing loans would be regularised.

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This is the last indulgence that is being given to the appellants to save their residential house. In case there is any default on the part of the appellants in making the aforesaid payments, the Bank would be free to take such steps as may be advised for realisation of its dues.

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With these observations and directions, this writ appeal stands disposed of.

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Sd/NAVANITI PRASAD SINGH CHIEF JUSTICE

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Sd/RAJA VIJAYARAGHAVAN V JU DGE

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//TRUE COPY//

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P.A. TO JUDGE

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Jvt/2.6.2017

George P.J v. the Authorized Officer

Case brief

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George P.J v. the Authorized Officer

Case brief

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