Allowed

Baburajan A.C. v. Secretaryt to Finance

Kerala HC1 Mar 2023WP(C)/1302/2023

Case brief

AI extract

What is this about?

The High Court allowed a writ petition seeking relief from loan liabilities. It directed petitioners to pay ₹3 lakhs immediately and the balance in 12 monthly instalments to the respondent bank. Coercive recovery steps were stayed pending compliance, with a notice of continued proceedings upon two defaults.

What did the court decide?

Direction to pay ₹3 lakhs immediately and balance in 12 monthly instalments; coercive recovery stayed pending compliance.

Baburajan A.C. Vs Secretaryt to Finance — Banking and Recovery | Kerala HC (2023)

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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 T.R.RAVI

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WEDNESDAY, THE 1^ST DAY OF MARCH 2023 / 10TH PHALGUNA, 1944

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WP(C) NO. 1302 OF 2023

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PETITIONERS:

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1 BABURAJAN A.C. AGED 52 YEARS SON OF UNNI NAIR, ARIYANCHALIL HOUSE, KOKKALLUR P.O., BALUSSERY, KOZHIKODE., PIN – 673 612 2 GOKULAM LOGISTRICS PRIVATE LIMITED 6/614, EAST MUKKU, ULLIYERI, BALUSSERY ROAD, KOZHIKODE, REPRESENTED BY EXECUTIVE DIRECTOR, BABURAJAN A.C., PIN – 673 620 3 VASU A.C. SON OF UNNI NAIR, SREESARANIYA, KOKKALLUR P.O., BALUSSERY, KOZHIKODE., PIN – 673 612 4 SEENA BABURAJAN WIFE OF BABURAJAN A.C., ANIYANCHALIL HOUSE, KOKKALLUR P.O., BALUSSERY, KOZHIKODE., PIN – 673 612 BY ADVS. I.DINESH MENON L.RAJESH NARAYAN

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RESPONDENTS:

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1 SECRETARYT TO FINANCE MINISTRY OF FINANCE, GOVERNMENT OF INDIA, NEW DELHI., PIN – 110 001 2 RESERVE BANK OF INDIA REPRESENTED BY AUTHORISED SIGNATORY, NEW DELHI., PIN – 110 001 3 THE AUTHORISED OFFICER AXIS BANK LIMITED, RETAIL ASSET CENTER, 2ND FLOOR, GLOBAL TOWER, PARAYANCHERY, KOZHIKODE., PIN – 673 016 BY ADVS. KIRAN M.S. P.PAULOCHAN ANTONY P

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 1302 OF 2023

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T.R.RAVI, J.

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 WP(C) No.1302 of 2023

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 Dated this the 01stday of March, 2023

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JUDGMENT

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The petitioners have approached this Court seeking
permission to wipe off the liabilities to the respondent Bank
in instalments. The counsel for the respondent Bank submits
that an amount of Rs.45,68,310/- is outstanding.

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In the above circumstances, the writ petition is disposed

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of directing the petitioners to pay a sum of Rs.3 lakhs on or
before 29.03.2023 and the balance amounts due to the
respondent Bank in 12 equal monthly instalments, along with
accrued interest, the first instalment becoming payable on or
before 28.04.2023 and the subsequent instalments becoming
payable on or before the 28th day of the succeeding months.
If the petitioners maketwo defaults in the payment of
instalments as directed above, the respondent Bank will be at
liberty to continue with the proceedings for recovery.
Coercive steps for recovery shall be kept in abeyance for
facilitating the payments by instalments as directed above.

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WP(C) NO. 1302 OF 2023

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The disposal of this writ petition will not in any way preclude

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the petitioners from approaching the respondent Bank for

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any further reliefs with regard to the payment.

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Sd/-

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T.R.RAVI

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JUDGE

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sn

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WP(C) NO. 1302 OF 2023

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APPENDIX OF WP(C) 1302/2023

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PETITIONER'S EXHIBITS

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Exhibit P1	TRUE COPY OF THE LOAN SACNTION ORDER ISSUED TO THE PETITIONER DATED 19.3.2020
Exhibit P2	TRUE COPY OF THE NOTICE ISSUED BY THE BANK UNDER SECTION 13[2] DATED 30.6.2021.
Exhibit P3	TRUE COPY OF THE ORDER IN WP [C] NO.825/2020 DATED 27.11.2020.
Exhibit P4	TRUE COPY OF THE CIRCULAR ISSUED BY RESERVE BANK OF INDIA DATED 5.5.2021.
Exhibit P5	TRUE COPY OF THE APPLICATION SUBMITTED BY THE PETITIONERS BEFORE THE RESPONDENTS DATED 22.9.2021.
Exhibit P6	TRUE COPY OF THE INTERIM ORDER IN WPC NO.20548/2021 29.9.2021.
Exhibit P7	TRUE COPY OF THE NOTICE DATED 30.06.2021 PUBLISHED IN HINDU DAILY DATED 17.6.2022.
Exhibit P8	TRUE COPY OF THE COMMON JUDGMENT DATED 3.11.2022 IN WP[C] NO.25052/2022.
Exhibit P9	TRUE COPY OF THE NOTICE ISSUED BY THE BANK TO THE PETITIONER DATED 05.01.2023.
Exhibit P10	TRUE COPY OF THE MARRIAGE INVITATION DATED 12.02.2023.
Exhibit P11	TRUE COPY OF THE DEMAND DRAFT DRAWN IN FAVOUR OF AXIS BANK LOAN ACCOUNT DATED 20.02.2023
RESPONDENT'S EXHIBITS	: NIL

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//TRUE COPY// PA TO JUDGE

Baburajan A.C. v. Secretaryt to Finance

Case brief

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Baburajan A.C. v. Secretaryt to Finance

Case brief

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