Sherly Joy v. Bank Ofindia
Case brief
What is this about?
The High Court allowed a writ appeal by directing the appellant, despite a history of defaults on a car and housing loan, to deposit Rs. 1 lakh monthly. This action aims to clear dues without auctioning assets.
What did the court decide?
Directed the appellant to deposit Rs. 1 lakh per month to clear car and housing loan dues; Bank allowed to take legal steps on future default.
What the court decided
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE THE CHIEF JUSTICE MR.NAVANITI PRASAD SINGH & THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
FRIDAY, THE 7TH DAY OF JULY 2017/16TH ASHADHA, 1939
WA.No. 1242 of 2017 IN WP(C).15840/2017
AGAINST THE JUDGMENT IN WP(C) 15840/2017 DATED 30/05/2017
APPELLANT/PETITIONER IN THE WPC :
SHERLY JOY, W/O. JOY N. JACOB, NEELAMKAVIL HOUSE, NEAR AAL STOP, ANTHIKKAD P.O, THRISSUR - 680 641.
BY ADV. SRI.K.I.SAGEER
RESPONDENT/RESPONDET IN WPC :
BANK OF INDIA, KANDASSAMKADAVU BRANCH, THRISSUR – 680 613, REP. BY ITS AUTHORISED OFFICER.
BY SRI.JAWAHAR JOSE, SC, BOI
Issues for consideration
3 issues framed by the court
Whether an applicant with a history of defaults in loan repayments can be granted further indulgence to regularize dues.
Whether the higher court can direct a specific repayment schedule to avoid aggressive recovery measures like auction.
Whether the bank is at liberty to take legal steps in case of future non-compliance with the directed repayment.
Parties & counsel
- appellant
Sherly Joy
- respondent
Bank of India
Coram
Navaniti Prasad Singh
Case details
As recorded by the court registry
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