Disposed

Abdul Rahim P.K., v. the Federal Bank Ltd.

Kerala HC11 Apr 2023WP(C)/1861/2023

Case brief

AI extract

What is this about?

The Court disposed of a writ petition regarding a bank loan dispute. It directed the petitioner to pay the remaining overdue amount via 15 monthly installments. Upon full clearance, the bank must regularize the account, but failing that, coercive recovery steps may be resumed.

What did the court decide?

Petitioner directed to pay the balance overdue amount in 15 equal monthly instalments starting 11.05.2023; respondents to regularise account if full payment made; coercive steps kept in abeyance pendi

Abdul Rahim P.K., Vs the Federal Bank Ltd. — 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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TUESDAY, THE 11^TH DAY OF APRIL 2023 / 21ST CHAITHRA, 1945

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WP(C) NO. 1861 OF 2023

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PETITIONER:

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ABDUL RAHIM P.K., AGED 59 YEARS S/O.KUNHIMOIDEEN HAJI, JARAMMAL, ESTATE MUKKU, EROOL P.O., KOZHIKKODE DISTRICT. 673574

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BY ADV BABU S. NAIR

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RESPONDENTS:

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1 THE FEDERAL BANK LTD., REPRESENTED BY ITS AUTHORIZED OFFICER, LCRD/KOZHIKKODE DIVISION, 1ST FLOOR, FEDERAL TOWERS, MAVOOR ROAD, ARAYADATHUPALAM, KOZHIKKODE. 673016

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2 THE MANAGER, FEDERAL BANK LTD., NADAKKAVU WEST BRANCH, KOZHIKKODE DISTRICT. 673011

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BY ADVS. MOHAN JACOB GEORGE, SC P.PAULOCHAN ANTONY P.V.PARVATHY REENA THOMAS NIGI GEORGE

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 1861 OF 2023 2

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T.R. RAVI, J.

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W.P.(C).No.1861 of 2023 -------------------------------------------Dated this the 11^th day of April, 2023

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JUDGMENT

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The Standing Counsel on instructions submits that the overdue amount is Rs.11,25,000/-. The petitioner has remitted a sum of Rs.3,00,000/- as directed by this Court. The Counsel for the petitioner submits that the instalments after 05.02.2023 is also due as on today.

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In the above circumstances, the writ petition is disposed of directing the petitioner to pay off the balance overdue amount in 15 equal monthly instalments, the first instalment falling due on or before 11.05.2023 and the subsequent instalments falling due on or before the 11^th of the succeeding months. The petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioner pays the entire overdue amount, the respondents shall regularise the loan account. If the petitioner makes a single default in the payment of instalments, the respondents will be at liberty to continue with coercive steps for recovery. The coercive steps initiated shall be kept

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WP(C) NO. 1861 OF 2023 3

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in abeyance to facilitate the payment of instalments as directed

above.

Sd/-

T.R.RAVI JUDGE

LEK

WP(C) NO. 1861 OF 2023 4

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APPENDIX OF WP(C) 1861/2023

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PETITIONER EXHIBITS

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Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNTS OF THE LOAN AVAILED BY THE PETITIONER Exhibit P2 A TRUE COPY OF THE ORDER PASSED BY THE CHIEF JUDICIAL MAGISTRATE, KOZHIKKODE DATED, 23-12-2022 Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED, 5-1-2023

Abdul Rahim P.K., v. the Federal Bank Ltd.

Case brief

What is this about?

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Abdul Rahim P.K., v. the Federal Bank Ltd.

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