IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS FRIDAY, THE 1^ST DAY OF APRIL 2022 / 11TH CHAITHRA, 1944 WP(C) NO. 11006 OF 2022 PETITIONER/S:

SABIN BABU,AGED 32 YEARS S/O BABU, ATTEPPADAN HOUSE VARANDRAPPILLY, THRISSUR.

BY ADVS.

R.SUNIL KUMAR A.SALINI LAL ARUN KRISHNA RESPONDENT/S:

1 THE BRANCH MANAGER INDUSIND BANK LTD, GROUND FLOOR FIAR TRADE CENTRE, TUDA ROAD, KOVILAKATHUMPADAM, THIRUVAMBADY.P.O, THRISSUR-680022.

2 THE AUTHORIZED OFFICER, INDUS IND BANK LTD, FIRST FLOOR, JAIN TOWER-II, NEAR RAILWAY OVER BRIDGE,NH-17 BY PASS, EDAPPALLY, KOCHI-682024.

BY ADVS.

G.HARIHARAN PRAVEEN.H.

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON

01.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

BECHU KURIAN THOMAS, J.

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W.P.(C)No.11006 of 2022 ------------------------------------------------

Dated this the 1^st day of April, 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 the hearing, petitioner has 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 petitioner committed default in repayment and the overdue amount is Rs.7,22,064/-. 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 R.Sunilkumar, the learned counsel for the petitioner as well as Sri.G.Hariharan, learned Standing Counsel for the respondents.

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 overdue amount in '12' 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.7,22,064/- along with bank charges from the petitioner and to regularise the loan account of the petitioner on the following conditions:

(i). The overdue amount of Rs.7,22,064/- shall be repaid in '12'

equated monthly instalments.

(ii). The first instalment shall be paid on or before 01.05.2022 and the remaining instalments shall be paid on or before 1^st of the succeeding months.

(iii). Petitioner 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 petitioner to repay the entire amounts, all coercive proceedings against the petitioner shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE jm/

APPENDIX OF WP(C) 11006/2022 PETITIONER EXHIBITS Exhibit P1 COPY OF ORDER IN M.C.NO.188/22 DT 19/3/2022 PASSED BY THE CJM, THRISSUR.

Exhibit P2 COPY OF THE LETTER OF THE 2ND RESPONDENT DATED

25/3/22.