This writ petition involved a borrower seeking a direction from the High Court to allow loan repayment in installments due to financial difficulties. The Court noted its limited jurisdiction but accepted the Bank's consent for an installment plan.
Directing the petitioner to pay one-third of the outstanding loan amount in one month and the balance bi-monthly.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE DAMA SESHADRI NAIDU
THURSDAY, THE 26TH DAY OF JULY 2018 / 4TH SRAVANA, 1940
WP(C).No. 23328 of 2018
PETITIONER
SIHAB P AGED 30 YEARS, S/O MUHAMMED, PADINHARAYIL HOUSE, NADUVANNOOR, KAVIL PO, PIN-673614, KOZHIKODE DISTRICT.
BY ADVS.SRI.JAMSHEED HAFIZ SMT.T.S.SREEKUTTY
RESPONDENT:
THE FEDERAL BANK LTD ULLIYERI BRANCH, KOZHIKODE DISTRICT, REPRESENTED BY AUTHORISED OFFICER, AJAYAN V.V, DEPUTY VICE PRESIDENT AND BRANCH MANAGER/KOZHIKODE, 1ST FLOOR, FEDERAL TOWERS, PIN-673016, MAVOOR ROAD, ARAYADATHU PALAM, KOZHIKODE DISTRICT.
R1 BY ADV. SRI.K.MADHUSOODANAN R1 BY ADV. SRI.T.G.PAUL R1 BY ADV. SRI.MATHEW JACOB (KUNNATHU) R1 BY ADV. SRI.SYRIAC JOSEPH
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 26-07-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No. 23328 of 2018 (M)
APPENDIX
PETITIONER(S)' EXHIBITS
| EXHIBIT P1 | A TRUE | COPY OF THE | ACCO | UNT STATEMENT DATED |
|---|---|---|---|---|
| 16.05. PETITI |
2018 SHOWING ONER. |
THE | PAYMENT MADE BY THE | |
| EXHIBIT P2 |
A TRUE CHIEF DATED |
COPY OF THE JUDICIAL MAGI 23.10.2017. |
C.M. STRA |
P 1744/2017 BEFORE THE TE COURT, KOZHIKODE |
| EXHIBIT P3 |
A TRUE 15.01. |
COPY OF THE 2018. |
PAY | IN SLIP DATED 10.01.2018 AND |
JJJ
DAMA SESHADRI NAIDU, J.
W.P.(C) No. 23328 of 2018 (M)
Dated: 26th July, 2018
J U D G M E N T
Heard the learned counsel for the petitioner and the
learned counsel for the respondent Bank, besides perusing the record.
defaulted on the loan repayment. The amount outstanding is Rs.54,29,151/-.
W.P.(C) No. 23328/2018
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recovery well known, the Bank's counsel, on instructions, has submitted that the Bank is willing to collect one third of the outstanding amount in one month, and the balance bi-monthly (once in every two months) thereafter.
So based on the Bank's concession, this Court disposes of the writ petition, directing the petitioner to pay the one third of the accumulated dues in one month, and the balance bimonthly (once in every two months) thereafter. If the petitioner
W.P.(C) No. 23328/2018
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fails to pay any one instalment within the stipulated time, the respondent Bank can proceed without recourse to this Court.
Sd/-
DAMA SESHADRI NAIDU JUDGE
jjj 26/07/2018
2 issues framed by the court
Whether the High Court can direct a bank to accept installment payments for loan recovery through Article 226 jurisdiction.
Whether the Court can interdict contractual terms of a financial transaction involving public money.
Sihab P
The Federal Bank Ltd Ulliyeri Branch
Dama Seshadri Naidu
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
