Disposed

A. Ramesh Kumar v. Chief Manager/Authorized Officer

Kerala HC11 Oct 2021WP(C)/9913/2021

Case brief

AI extract

What is this about?

The High Court of Kerala, on an application for relief against bank recovery proceedings, permitted the petitioner to repay the entire outstanding amount in ten equated monthly installments, directing the bank to keep coercive steps in abeyance.

What did the court decide?

Petitioner granted opportunity to repay entire outstanding amount in ten equated monthly installments, starting by 30.10.2021, with coercive steps kept in abeyance.

A. Ramesh Kumar Vs Chief Manager/Authorized Officer — Consumer Protection | 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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MONDAY, THE 11^TH DAY OF OCTOBER 2021 / 19TH ASWINA, 1943

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WP(C) NO. 9913 OF 2021

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PETITIONER:

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A.RAMESH KUMAR AGED 49 YEARS S/O. AZHAKAN, KURUNGADAD HOUSE, MARUTHAROAD, NEAR VILLAGE OFFICE, PALAKKAD-678 007.

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BY ADV RAJESH SIVARAMANKUTTY

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RESPONDENTS:

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1 CHIEF MANAGER/AUTHORIZED OFFICER, BANK OF BARODA, (AUTHORIZED OFFICER UNDER SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT), PALAKKAD BRANCH, P.B. NO.335, MANGALAM TOWERS, OPP. TOWN BUS STAND, PALAKKAD-678 014.

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2 BRANCH MANAGER, BANK OF BARODA, PALAKKAD BRANCH, PALAKKAD-678 014.

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BY ADV LEO GEORGE, SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 9913 OF 2021

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BECHU KURIAN THOMAS, J

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=========================== W.P.(C) No.9913 of 2021

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--------------------------------Dated this the 11th day of October, 2021

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JUDGMENT

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Petitioner as borrower from the respondent bank has

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committed default in repayment. Consequently, proceedings

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have been initiated by the bank for recovery of the amounts due.

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During the course of the hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in installments.

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It was submitted on behalf of the respondent bank that petitioner has committed default in repayment and the total outstanding amount is at Rs.7,71,293/-. It was further submitted that though proceedings for recovery have been

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initiated, as a matter of indulgence, respondent bank is willing

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to accept repayment of the entire outstanding amount in limited instalments.

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WP(C) NO. 9913 OF 2021

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I have heard Adv.Rajesh Sivaramankutty, learned counsel for

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the petitioner as well as Adv.Leo George, the learned Standing Counsel for the respondents.

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Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the entire outstanding amount in 'ten' instalments.

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Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.7,71,293/- along with bank charges from the petitioner on the following conditions:

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(i). The entire outstanding amount of

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Rs.7,71,293/- shall be repaid in 'ten' equated

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monthly instalments.

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(ii). The first instalment shall be paid on or

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before 30.10.2021.

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(iii). In the event of default of any one

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WP(C) NO. 9913 OF 2021

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instalment, the respondent-Bank shall be

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entitled to proceed in accordance with law.

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(iv) In order to enable the petitioner 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/11/10/2021

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WP(C) NO. 9913 OF 2021

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APPENDIX OF WP(C) 9913/2021

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PETITIONER'S EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE JUDGMENT DATED 08/06/2016 IN WPC NO.9704/2016 PASSED BY THIS HON'BLE COURT.

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EXHIBIT P2 TRUE COPY OF THE REPRESENTATION DATED 10/04/2021 ISSUED BY THE PETITIONER TO THE 2ND RESPONDENT.

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RESPONDENT'S EXHIBITS : NIL

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//TRUE COPY//

A. Ramesh Kumar v. Chief Manager/Authorized Officer

Case brief

What is this about?

What did the court decide?

A. Ramesh Kumar v. Chief Manager/Authorized Officer

Case brief

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