Petitioner sought to direct Respondent Bank to accept loan repayment in instalments under Article 226. Bank conceded to six monthly instalments. Court directed petitioner to pay dues in six equal monthly instalments.
Petitioner directed to pay outstanding loan dues in six equal monthly instalments starting 25.08.2018.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE DAMA SESHADRI NAIDU
WEDNESDAY, THE 25TH DAY OF JULY 2018 / 3RD SRAVANA, 1940
WP(C).No. 24092 of 2018
PETITIONER
CHELLAMMA, PUTHUVAL PUTHEN VEEDU, CHEMBOOR, MANNAMKONAM P.O, THIRUVANANTHAPURAM 695 125.
BY ADV.SRI.R.GOPAN
RESPONDENTS:
R BY SRI.R.S.KALKURA, SC, SBI
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25-07-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No. 24092 of 2018 (J)
APPENDIX
PETITIONER(S)' EXHIBITS
EXHIBIT P1 PHOTOCOPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK TO THE PETITIONER UNDER RULE 8(6) OF THE SECURITY INTEREST (ENFORCEMENT) RULES, 2002.
JJJ
DAMA SESHADRI NAIDU, J.
W.P.(C) No. 24092 of 2018 (J)
Dated: 25th 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.
assailed Exhibit P1 notice. The amount outstanding in the consumption loan is Rs.2,78,159/-.
W.P.(C) No.24092/2018
-2-
interdicting the contractual terms, especially in a financial transaction involving public money, and compelling the respondent Bank to agree for instalments.
So based on the Bank's concession, this Court disposes of the writ petition, directing the petitioner to pay the accumulated dues in six equal monthly instalments, starting from 25.08.2018. If the petitioner fails to pay any two consecutive instalments within the stipulated time, the respondent Bank can proceed without recourse to this Court.
Sd/DAMA SESHADRI NAIDU JUDGE
jjj 25/07/2018
2 issues framed by the court
Whether the Court can direct the bank to accept repayment in instalments under Article 226.
Whether the petitioner failed to repay the loan due to financial conditions.
CHELLAMMA
STATE BANK OF INDIA
DAMA SESHADRI NAIDU
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
