IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS THURSDAY, THE 10^TH DAY OF FEBRUARY 2022 / 21ST MAGHA, 1943 WP(C) NO. 667 OF 2022 PETITIONER:

I.M.SHAMEER, AGED 44 YEARS S/O. MUHAMMED IQBAL, ROMEO CAR JEWELS, NO. 264, K.P.

ROAD, PARVATHIPURAM, NAGERCOIL, 629 003.

BY ADVS.

K.T.SHYAMKUMAR HARISH R. MENON K.N.ABHA A.G.PRASANTH OASHIN LALAN RESPONDENT:

THE AUTHORISED OFFICER THE TAMILNADU MERCANTILE BANK LTD, NAGARCOIL BRANCH, 229A, CHARLES MILLER STREET, COLLEGE ROAD, NAGERCOIL, TAMILNADU, 629 001.

BY ADVS. LEKHA G.

SAJU N.A.(K /771/2002)

P.J.FLONY(K/313/2007)

UMA.G.KRISHNAN(K/973/2004)

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

BECHU KURIAN THOMAS, J.

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W.P.(C) No.667 of 2022 ============================

Dated this the 10th day of February, 2022 JUDGMENT 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.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the outstanding amount as on 10.02.2022 is Rs.20,12,631/-. 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 outstanding amount in limited instalments.

4. I have heard Shri.K.T.Shyam Kumar, learned counsel for the petitioner as well as Shri.Saju N.A., learned Standing Counsel for the respondent.

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 petitioner can be granted an opportunity to repay the outstanding amount in eight instalments.

6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.20,12,631/- along with bank charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.20,12,631/- shall be repaid in eight equated monthly instalments.

(ii) The first instalment shall be paid on or before 10.03.2022.

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

(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

(v) The respondents shall serve statement of accounts relating to the amount accrued till date within a period of seven days from the date of receipt of a copy of this judgment.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE ssa/

APPENDIX OF WP(C) 667/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED

23.7.2021 ISSUED BY THE RESPONDENT BANK.

Exhibit P2 TRUE COPY OF THE ACCOUNT STATEMENT OF THE PETITIONERS ACCOUNT.

Exhibit P3 TRUE COPY OF THE NOTICE DATED 31.12.2021 ISSUED BY THE ADVOCATE COMMISSIONER.

Exhibit P4 TRUE COPY OF THE SALE NOTICE DATED 07.01.2022 ISSUED BY THE RESPONDENT.