IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS TUESDAY, THE 1^ST DAY OF FEBRUARY 2022 / 12TH MAGHA, 1943 WP(C) NO. 30136 OF 2021 PETITIONER/S:

1 FAHIM CEYLON AGED 49 YEARS S/O HASHIM, ARAHAM, MOOZHIKKARA P.O.

THALASSERY, KANNUR DISTICT-670 103.

2 FOUZIYA C, W/O FAHIM, CEYLON, ARAHAM, MOOZHIKKARA P.O.

THALASSERY, KANNUR DISTICT-670 103.

BY ADVS.

C.P.PEETHAMBARAN MINI.V.A.

RESPONDENT/S:

1 THE AUTHORIZED OFFICER KERALA BANK (FORMERLY KERALA STATE CO-OPERATIVE BANK), REGIONAL OFFICE, KANNUR, KANNUR DISTRICT-670 001

2 THE BRANCH MANAGER, KERALA BANK, (FORMERLY KERALA STATE CO-OPERATIVE BANK), MANHODI BRANCH, MANHODI, KANANUR DISTRICT, THALASSERY BRANCH, KANNUR DISTRICT-670 103.

BY ADV M.SASINDRAN-SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON

01.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

BECHU KURIAN THOMAS, J.

========================

W.P.(C) No. 30136 of 2021 ========================

Dated this the 1^st day of February, 2022

J U D G M E N T

Petitioners as borrowers from the respondent bank, have committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

2. During the course of the hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment and the overdue amount is Rs.3,37,000/- 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 the overdue amount in limited instalments and regularise the loan account.

4. I have heard Sri. C.P. Peethambaran, learned Counsel for the petitioners as well as Sri. M. Sasindran, the learned Standing Counsel for the respondent Bank.

5. 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 petitioners can be granted an opportunity to repay the overdue amount in 6 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs. 3,37,000/-along with bank charges from the petitioners and regularise the loan account of the petitioners on the following conditions:

i. The overdue amount of Rs.3,37,000/- shall be repaid in 6 equated monthly instalments.

ii. The first instalment shall be paid on or before 28.02.2022.

iii. Petitioners shall continue to pay the regular EMI's along with the instalments directed above.

iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

v. In order to enable the petitioners to repay the entire amounts, all coercive steps shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE LU APPENDIX OF WP(C) 30136/2021 PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE NOTICE DATED

28.12.2020 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS EXHIBIT P2 TRUE COPY OF THE NOTICE DATED

28.12.2020 ISSUED BY THE 1ST RESPONDENT TO THE SRO CHOKLI EXHIBIT P3 TRUE COPY OF THE RECEIPT DATED 9.3.2021 ISSUED BY THE 2ND RESPONDENT EXHIBIT P3(A) TRUE COPY OF THE RECEIPT DATED

26.3.2021 ISSUED BY THE 2ND RESPONDENT EXHIBIT P4 TRUE COPY OF THE NOTICE DATED

16.12.2021 ISSUED BY THE ADVOCATE COMMISSIONER // True Copy // PA To Judge