Allowed

Gopinathan.P., v. the Authorised Officer

Kerala HC10 Jan 2022WP(C)/584/2022

Case brief

AI extract

What is this about?

The High Court of Kerala, in a writ petition, directed a bank to accept repayment of an outstanding loan amount in 10 court-supervised instalments and suspended all coercive proceedings, allowing the petitioner to cure the default without immediate penalty.

What did the court decide?

The respondent Bank is directed to accept repayment of the outstanding amount of Rs.19,36,271/- in 10 equated monthly instalments, and all coercive proceedings are kept in abeyance.

Gopinathan.P., Vs the Authorised Officer — 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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MONDAY, THE 10^TH DAY OF JANUARY 2022 / 20TH POUSHA, 1943 WP(C) NO. 584 OF 2022

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PETITIONER/S:

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GOPINATHAN.P., AGED 63 YEARS S/O.CHIPPUKUTTY NAIR, GEETHAM HOUSE, NEAR N.S.S.H.S. KALPETTA, KALPETTA VILLAGE, VYTHIRI TALUK, KALPETTA POLICE STATION LIMITS, WAYANAD673 121.

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BY ADVS. M.R.SASITH R.K.CHIRUTHA NEELANJANA NAIR RANJITH E N RAJITHA V.K PREETI S.

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RESPONDENT/S:

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THE AUTHORISED OFFICER, THE SOUTH INDIAN BANK LTD., REGIONAL OFFICE, KVR TOWER, PAMPAN MADHAVAN ROAD, KANNUR-670 002.

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OTHER PRESENT:

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SC. K.K.JOHN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WPC No.584/2022

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..2..

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BECHU KURIAN THOMAS, J.

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----------------------------------------WP.(C) No. 584 of 2022 ---------------------------------------Dated this the 10^th day of January, 2022

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JUDGMENT

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Petitioner as borrower from the respondentBank, 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 the hearing, petitioner

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has confined the relief to an opportunity for repaying the outstanding amount in

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instalments.

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It was submitted on behalf of the respondent-

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Bank that the petitioner committed default in

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repayment and the outstanding amount is Rs.19,36,271/- (Rupees nineteen lakh thirty six thousand two hundred and seventy one

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WPC No.584/2022

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only). It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent Bank

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is willing to accept repayment of the

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outstanding amount in limited instalments.

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I have heard Adv.M.R.Sasith Panicker, the learned counsel for the petitioner as well as Adv.K.K.John, the learned Standing Counsel for the respondent.

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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 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.19,36,271/(Rupees nineteen lakh thirty six thousand two hundred and seventy one only) along with bank

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WPC No.584/2022

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charges from the petitioner on the following conditions:

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Rs.19,36,271/- (Rupees nineteen lakh thirty

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six thousand two hundred and seventy one

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only) shall be repaid in 10 equated monthly instalments.

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or before 31.01.2022.

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instalment, the respondent-Bank shall be entitled to proceed in accordance with law.

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(iv) In order to enable the petitioner to

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repay the entire amounts, all coercive

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proceedings shall be kept in abeyance.

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The writ petition is disposed of as above.

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Sd/-

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BECHU KURIAN THOMAS

JUDGE

Bka/10.01.2022

WPC No.584/2022

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APPENDIX OF WP(C) 584/2022

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PETITIONER EXHIBITS

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Exhibit P1 TRUE COPY OF CMP NO.2574/2018 BEFORE THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KALPETTA FILED BY THE RESPONDENT.

Gopinathan.P., v. the Authorised Officer

Case brief

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Gopinathan.P., v. the Authorised Officer

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