Allowed

Radha.B v. Authorised Officer

Kerala HC11 Jan 2022WP(C)/768/2022

Case brief

AI extract

What is this about?

The single judge in a writ petition allowed the petitioner-borrower an opportunity to repay the defaulted overdue loan amount in 8 equated monthly instalments without coercive proceedings, ordering the bank to regularise the account subject to these conditions.

What did the court decide?

Direction to bank to accept repayment of overdue amount in 8 instalments, keep coercive proceedings in abeyance, and regularise the loan account upon compliance.

Radha.B Vs Authorised Officer — Specific Performance | 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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TUESDAY, THE 11TH DAY OF JANUARY 2022 / 21ST POUSHA, 1943

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WP(C) NO. 768 OF 2022

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PETITIONER:

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RADHA.B

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AGED 53 YEARS
D/O. BABY, RESIDING AT MULAVILAKOM, THOZHICHAL,
KOVALAM P.O, THIRUVANANTHAPURAM - 695527.
BY ADVS.
M.RAMESH CHANDER (SR.)
BALU TOM
BONNY BENNY
GOVIND G. NAIR
BEJOY JOSEPH P.J.

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RESPONDENTS:

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1 AUTHORISED OFFICER

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AXIS BANK LIMITED, REGISTERED OFFICE, "TRISHUL", OPP.
SAMARTHESWAR TEMPLE, NEAR LAW, GARDEN, ELLISBRIDGE,
AHAMEDABAD - 380006.

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2 THE BRANCH MANAGER.

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AXIS BANK LIMITED, KARAMANA BRANCH, THIRUVANANTHAPURAM -
695002.

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BY ADV.MADHU RADHAKRISHNAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C) No. 768 of 2022

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BECHU KURIAN THOMAS, J.

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W.P.(C) No. 768 of 2022

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Dated this the 11^th day of January, 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 has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

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It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount is Rs.4,60,946/-. 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

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the overdue amount in limited instalments and regularise the loan

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account.

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W.P.(C) No. 768 of 2022

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I have heard Sri. Ramesh Chander, learned counsel for

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the petitioner as well as Sri.Madhu Radhakrishnan, 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 overdue amount in ‘8’ 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

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bank to accept repayment of the entire overdue amount of Rs4,60,946/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:

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(i) The overdue amount of Rs.4,60,946/- shall be repaid in ‘8’ equated monthly instalments.

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(ii) The first instalment shall be paid on or before 10.02.2022.

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(iii) Petitioner shall continue to pay the regular EMI’s along with the instalments directed above.

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W.P.(C) No. 768 of 2022

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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 petitioner to repay the entire amounts, all coercive 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

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AJM

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W.P.(C) No. 768 of 2022

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APPENDIX OF WP(C) 768/2022

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PETITIONER’S EXHIBITS

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EXHIBIT P1PHOTOSTAT COPY OF THE POSSESSION NOTICE
DATED 14.12.2021.

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RESPONDENTS’ EXHIBITS:NIL

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//TRUE COPY//

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PA TO JUDGE

Radha.B v. Authorised Officer

Case brief

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Radha.B v. Authorised Officer

Case brief

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