IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE BASANT BALAJI TH FRIDAY, THE 7 DAY OF MARCH 2025 / 16TH PHALGUNA, 1946 OP(C) NO. 510 OF 2025 MA(ARB.) NO.217 OF 2024 OF ASSISTANT SESSIONS COURT/PRINCIPAL SUB COURT / COMMERCIAL COURT, ERNAKULAM PETITIONER/PETITIONER/1ST RESPONDENT:

ABDUL KABEER AGED 57 YEARS S/O. BEERAN, PARAYIL HOUSE, PULLUT, THRISSUR, KERALA., PIN - 680663 BY ADVS.

JIBI JACOB BHARATH MURALI RESPONDENT/RESPONDENT/PETITIONER:

KOTAK MAHINDRA BANK LTD KANAGADAMODAR BUILDING, OPP. INTERNATIONAL HOTEL, VEEKSHANAM RD COCHIN , ERNAKUALM, DULE REPRESENTED BY IT’S AUTHORIZED OFFICER AND ASSOCIATE AKSHAY SHAJI TS , AGED 27 YEARS, S/O. SHAJI T K. THEKKILAKKATIL HOUSE, VADAVUCODE P.O, KANGARAPPADY, ERNAKULM, PIN - 682021 BY ADV Jeejan T OTHER PRESENT:

ADV. JEEJAN T.

THIS OP (CIVIL) HAVING COME UP FOR ADMISSION ON 07.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT (Dated this the 7th day of March, 2025)

This original petition is filed for the following reliefs:

“a) To direct the respondent to return the vehicle seized, 'Ashok Leyland Tipper' bearing registration number KL 47 K 9173 as per the direction of Ext. P5 order of the Commercial Court No.1 Ernakulam;

b) Grant such other reliefs as this Hon’ble Court may deem just and proper in the interest of justice, including costs.”

2. The petitioner is the respondent and the respondent is the petitioner in M.A (Arb) No.217 of 2024 on the files of the Commercial Court, Ernakulam. The petitioner availed a loan of Rs.56,19,000/- from the respondent for the purchase of an 'Ashok Leyland Tipper' for his livelihood. When default occurred, the respondent filed M.A (Arb) No.217 of 2024, along with IA No.2/2024 for appointment of an Advocate Commissioner for taking possession of the hypothecated vehicle. The Commissioner was appointed, and now the vehicle is possessed by the respondent.

3. The counsel for the respondent, on instructions, submits that the outstanding amount would come to Rs.12,09,870/-.

4. The petitioner has produced Ext.P6 through IA No.1/2025, whereby the respondent called upon the petitioner to repay the amount of Rs.43,80,729.70/- within seven days from the date of the letter, i.e., 14.02.2025, and if the same is not paid, the vehicle will be sold. He prays for installment facility to wipe out the liability towards the respondent.

Taking into consideration the facts and circumstances of the case and the request of the petitioner to pay the defaulted amount in installments, I dispose of this original petition, as follows:

a) The petitioner shall remit an amount of Rs.4,00,000/-

(Rupees four lakhs only) within one month from today, and the balance defaulted amount in four equated monthly installments along with regular installments.

b) If Rs.4,00,000/- is remitted within one month, the petitioner shall be given the possession of the vehicle on an undertaking that the vehicle will not be alienated and the four EMIs granted by this Court will be paid without default.

c) The first installment is to be paid on or before

10.04.2025, and the remaining three installments on or before the 10^th day of each succeeding month along with regular installments.

d) In case of failure to make the payment, the respondent is at liberty to repossess the vehicle.

Since the petitioner disputes the amount of liability as of today, the petitioner is given liberty to challenge the quantified amount in appropriate proceedings.

The original petition is disposed of as above.

Sd/-

BASANT BALAJI JUDGE JS APPENDIX OF OP(C) 510/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF E-COURT PROCEEDINGS DATED

31.08.2024 IN O.S NO. 1779 OF 2024 PASSED BY THE HON’BLE MUNSIFF COURT, THRISSUR Exhibit P2 THE TRUE COPY OF THE ORIGINAL PETITION FILED UNDER SECTION 9 OF THE ARBITRATION AND CONCILIATION ACT, 1996 BY THE RESPONDENT DATED 19.10.2024 BEFORE THE COMMERCIAL COURT NO. 1 AT ERNAKULAM Exhibit P3 A TRUE COPY OF THE E-COURT PROCEEDINGS SHEET OF COMMERCIAL COURT NO.1 ERNAKULAM IN M.A