Disposed

Biju .v.T v. the Authorized Officer

Kerala HC7 Oct 2021WP(C)/21488/2021

Case brief

AI extract

What is this about?

Hearing a writ petition regarding loan default proceedings, the court granted the petitioners an opportunity to repay the overdue amount in 12 instalments without immediate coercive action. The bank was directed to regularize the account upon full repayment.

What did the court decide?

Bank directed to accept overdue amount in 12 instalments, continue to keep coercive steps in abeyance, and regularize account upon full payment.

Biju .v.T Vs the Authorized Officer — Contract and Commercial Disputes | Kerala HC (2021)

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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 BECHU KURIAN THOMAS

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THURSDAY, THE 7^TH DAY OF OCTOBER 2021 / 15TH ASWINA, 1943

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WP(C) NO. 21488 OF 2021

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PETITIONERS:

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1 BIJU .V.T, AGED 46 YEARS VARANGUMCHUVATTIL, THALAPUZHA, P.O.VALLAL, WAYANAD DISTRICT, PIN-670 644. 2 RAJI R., AGED 40 YEARS W/O. BIJU V.T., VARANGUMCHUVATTIL, P.O.KUPPADY, SULTHAN BATHERY, WAYANAD DISTRICT, PIN-673 592. BY ADVS.V.SHYAM P.ARUN

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RESPONDENT :

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THE AUTHORIZED OFFICER THE KERALA STATE CO-OPERATIVE BANK LTD., KALPETTA NORTH, WAYANAD-671 121. ADV.ATHUL SHAJI

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 21488 OF 2021

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BECHU KURIAN THOMAS, J

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===========================

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W.P.(C) No.21488 of 2021

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--------------------------------Dated this the 7th day of October, 2021

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JUDGMENT

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Petitioners as borrowers from the respondent bank

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have committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

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During the course of the hearing, petitioners have

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confined their relief to an opportunity for repaying the overdue amount in installments and to obtain

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regularisation of the loan account.

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It was submitted on behalf of the respondent

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bank that petitioners have committed default in repayment and the overdue amount as on 15.03.2021

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is at Rs.5,43,347/-. It was further submitted that

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though proceedings for recovery have been initiated,

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WP(C) NO. 21488 OF 2021

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as a matter of indulgence, respondent bank is willing

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to accept repayment of the overdue amount in limited instalments and regularise the loan account.

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I have heard Adv.Shyam V., learned counsel for

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the petitioners as well as Adv.Athul Shaji, the learned Standing Counsel for the respondent.

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Having regard to the circumstances of the case

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and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the overdue amount in '12' instalments and, thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

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Accordingly, there will be a direction to the respondent bank to accept repayment of the overdue amount of Rs.5,43,347/- along with bank charges from

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the petitioners and regularise the loan account of the

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WP(C) NO. 21488 OF 2021

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petitioners on the following conditions:

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(i). The overdue amount shall be repaid in

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'12' equated monthly instalments.

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(ii). The first instalment shall be made on

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or before 30.10.2021.

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(iii). Petitioners shall continue to pay the

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regular EMI’s along with the instalments directed above.

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(iv). In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

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(v) In order to enable the petitioners to repay the entire amounts, all coercive steps shall be kept in abeyance.

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The writ petition is disposed of as above.

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Sd/BECHU KURIAN THOMAS, JUDGE

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AMV/07/10/2021

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WP(C) NO. 21488 OF 2021

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APPENDIX OF WP(C) 21488/2021

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PETITIONER EXHIBITS

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Exhibit P1	A TRUE COPY	OF	THE	SAID DEMAND NOTICE
	DATED 16.12.2 ISSUED TO THE	020 1ST	OF RES	THE 1ST RESPONDENT PONDENT.
Exhibit P2	A TRUE COPY DATED 16.12.2	OF 020	THE OF	SAID DEMAND NOTICE THE 1ST RESPONDENT
	ISSUED TO THE	2ND	PET	ITIONER.
Exhibit P3	A TRUE COPY	OF	THE	DISCHARGE SUMMARY
	DATED THIRUVANANTHA	1 PURA	3.11 M ME	.2019 FROM DICAL COLLEGE.

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RESPONDENTS EXHIBITS : NIL

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TRUE COPY P.A.TO JUDGE

Biju .v.T v. the Authorized Officer

Case brief

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Biju .v.T v. the Authorized Officer

Case brief

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