Partly allowed

Ummachu P v. the Branch Manager, Idbi Bank

Kerala HC23 Feb 2023WP(C)/1513/2023

Case brief

AI extract

What is this about?

Petitioner sought permission to clear a bank loan dues via instalments. Court granted leave to pay ₹18.31 lakh with accrued interest in 10 monthly installments, directing bank to initiate recovery only upon default.

What did the court decide?

Permission granted to pay ₹18.31 lakh plus accrued interest in 10 monthly instalments starting 23.03.2023; recovery stay until default.

Ummachu P Vs the Branch Manager, Idbi Bank — Execution and Attachment | 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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THURSDAY, THE 23^RD DAY OF FEBRUARY 2023 / 4TH PHALGUNA, 1944

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WP(C) NO. 1513 OF 2023

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PETITIONER:

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UMMACHU P AGED 67 YEARS, D/O. KHADER, PANACHIKKOTH HOUSE, POOMALA, SULTHAN BATHERY, WAYANAD DISTRICT, PIN - 673592

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BY ADV GAYATHRI KRISHNAN

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RESPONDENT:

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THE BRANCH MANAGER, IDBI BANK LTD., CITY TOWER, RAHEEM MEMORIAL ROAD, SULTHAN BATHERY, WAYANAD, PIN - 673579 SRI. DEEPU THANKAN, SC.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 1513 OF 2023

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T.R. RAVI, J.

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W. P. (C). No. 1513 of 2023

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Dated this the 23^rd day of February, 2023

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JUDGMENT

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The petitioner has approached this Court seeking permission to pay

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off the amounts due to the respondent in easy instalments. The counsel for the respondent on instructions submits that an amount of ₹18,31,000/- is due to them. The petitioner requests that she may be allowed to pay off the amounts in instalments.

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In the above circumstances, this writ petition is disposed of permitting the petitioner to pay off the amounts due along with accrued interest in 10 equal monthly instalments, the 1st instalment falling due on or before 23.03.2023 and the subsequent instalments falling due on or before the 23rd of the succeeding months. If the petitioner makes a single default in payment of instalments, the respondent is at liberty to proceed with the recovery. Steps for recovery shall be kept in abeyance to facilitate the payment of instalment.

Sd/-

T.R. RAVI JUDGE

WP(C) NO. 1513 OF 2023

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APPENDIX OF WP(C) 1513/2023

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PETITIONER'S EXHIBITS

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Exhibit P1 LOAN RECALL NOTICE DATED 27-06-2022 Exhibit P2 NOTICE UNDER SECTION 13(2) OF SARFAESI ACT DATED 20-07-2022 Exhibit P3 POSSESSION NOTICE DATED 07-11-2022 Exhibit P4 series MEDICAL RECORDS OF THE PETITIONER

Ummachu P v. the Branch Manager, Idbi Bank

Case brief

What is this about?

What did the court decide?

Ummachu P v. the Branch Manager, Idbi Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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