Allowed

Laj.G., v. Kerala Gramin Bank.

Kerala HC2 Sept 2022WP(C)/14773/2022

Case brief

AI extract

What is this about?

In a writ petition, the Kerala High Court allowed a defaulting borrower of Kerala Gramin Bank to repay the outstanding amount in 10 equated monthly instalments and directed the bank to keep all coercive proceedings in abeyance.

What did the court decide?

Direction to the respondent-Bank to accept repayment of the outstanding amount of Rs.13,25,937/- in 10 equated monthly instalments starting from 03.10.2022 and to keep all coercive proceedings in abey

Laj.G., Vs Kerala Gramin Bank. — Banking and Recovery | Kerala HC (2022)

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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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FRIDAY, THE 2^ND DAY OF SEPTEMBER 2022 / 11TH BHADRA, 1944

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WP(C) NO. 14773 OF 2022

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PETITIONER:

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LAJ.G., AGED 50 YEARS S/O. GOPINATHAN, HIND, NMC 7/10, CHANTHAVILA, KALLINGAL, NEDUMANGADU, THIRUVANANTHAPURAM 695 541. BY ADVS. V.R.GOPU J.NARAYANA PILLAI URMILA.M.G

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RESPONDENTS:

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1 KERALA GRAMIN BANK., NEDUMANGAD BRANCH, REPRESENTED BY ITS BRANCH MANAGER, NEDUMANGAD, THIRUVANANTHAPURAM 695 541. 2 THE AUTHORIZED OFFICER/ CHIEF MANAGER (CREDITS AND RECOVERY), KERALA GRAMIN BANK , REGIONAL OFFICE, KGB TOWERS, BAKERY JUNCTION, THIRUVANANTHAPURAM 695 033.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.09.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 14773 OF 2022

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BECHU KURIAN THOMAS, J

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......….................................. W.P.(C) No.14773 of 2022

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Dated this the 2^nd day of September, 2022

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JUDGMENT

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Petitioner as borrower from the respondent-Bank, has 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 hearing, petitioner confined his relief to an opportunity for repaying the outstanding amount in instalments.

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It was submitted on behalf of the respondent-Bank that petitioner committed default in repayment and the outstanding amount is Rs.13,25,937/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent Bank is willing to accept repayment of the outstanding amount in limited instalments.

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I have heard Sri.V.R.Gopu, the learned counsel for the petitioner as well as Sri.M.Gopikrishnan Nambiar, the learned Standing Counsel for the respondents.

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Having regard to the circumstances of the case and the

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WP(C) NO. 14773 OF 2022

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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 outstanding amount in '10' 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.13,25,937/- along with bank charges from the petitioner on the following conditions:

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(i). The outstanding amount of Rs.13,25,937/- shall be

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repaid in '10' equated monthly instalments.

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(ii). The first instalment shall be paid on or before 03.10.2022 and the remaining instalments shall be paid on or before the 3^rd day of every succeeding month.

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

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respondent-Bank shall be 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 proceedings against the petitioner shall be kept in abeyance.

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The writ petition is disposed of.

JUDGE

BECHU KURIAN THOMAS

AMV/03/09/2022

WP(C) NO. 14773 OF 2022

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APPENDIX OF WP(C) 14773/2022

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PETITIONER EXH	IBITS
Exhibit P1	TRUE COPY	OF	THE	DEMAND	NOTI	CE TO
	BORROWER I DATED 11.5	SSUE .2018	D BY .	THE 2ND	RESP	ONDENT
Exhibit P2	TRUE COPY	OF	THE	NOTICE	FOR	TAKING
	POSSESSION 7.1.2021.	OF	THE	SECURED	ASSET	DATED
Exhibit P3	TRUE COPY	OF	THE	NOTICE	ISSU	ED BY
	ADVOCATE PETITIONER	CO DATE	MMISS D 23	IONER .2.2022.	TO	THE
Exhibit P4	TRUE COPY ISSUED BY	OF THE I	THE ST R	RECEIP ESPONDEN	T 4. T.	4.2022
Exhibit P5	TRUE COPY	OF	THE	NOTICE	ISSU	ED BY
	ADVOCATE PETITIONER	CO DATE	MMISS D 6.	IONER 4.2022.	TO	THE
Exhibit P6	TRUE COP	Y O	F	THE PET	ITION	FOR
	WILLINGNES BY THE P RESPONDENT	S TO ETIT DATE	SET IONE D 16	TLE THE R BEFOR /06/2022	LOAN E THE	FILED 2ND

Laj.G., v. Kerala Gramin Bank.

Case brief

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Laj.G., v. Kerala Gramin Bank.

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