IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 1391 of 2010(Y)
1. ABRAHAM PHILIP ALIAS A.P.VALLUKADAN,
... Petitioner
Vs
1. UNION OF INDIA, REPRESENTED BY
... Respondent
2. FEDERAL BANK LTD., BROADWAY BRANCH,
3. THE RECOVERY OFFICER, DEBT RECOVERY
For Petitioner :SRI.B.RAMACHANDRAN
For Respondent :SRI.T.P.M.IBRAHIM KHAN,ASST.S.G OF INDI
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :16/02/2010
O R D E R
P.R. RAMACHANDRA MENON, J.
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WP(C) No. 1391 of 2010
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Dated, this the 16th day of February, 2010
J U D G M E N T
The petitioner had availed a loan from the respondent Bank.
Admittedly the petitioner could not satisfy the repayment on time. It is
stated that the 2nd respondent approached the DRT, Ernakulam and
obtained an ex-parte decree. The recovery proceedings being pursued
at the instance of the respondent Bank have been sought to be
intercepted in the Writ Petition.
2. When the matter came for consideration before this Court
on 29.01.2010, coercive steps were intercepted on condition that the
petitioner deposited a sum of Rs.3,00,000/- within ten days. The learned
counsel for the petitioner submits that the payment could be effected
only on 11.02.2010 and the delay caused in this regard is sought to be
condoned. The learned counsel appearing for the Bank submits on
instructions that, after giving credit to the amount remitted by the
petitioner, though belatedly, a sum of about Rs.9.43 lakhs is still due to
wipe off the liability under the loan transaction.
3. Considering the facts and circumstances and submissions
made from the part of the petitioner through the learned counsel, the
WP(C) No.1391/2010
2
petitioner is permitted to clear the entire liability by way of `six’ equal
monthly instalments, the first of which shall be effected on or before the
20th of March, 2010, to be followed by similar instalments to be effected
on or before the 20th of the succeeding months. Subject to the above, all
the recovery proceedings stated as being pursued against the petitioner
shall be kept in abeyance. It is made clear that if any default is committed
by the petitioner in satisfying the liability as above, the respondent Bank
will be at liberty to proceed with further steps for realisation of the entire
amount in a lump sum.
The Writ Petition is disposed of accordingly.
P. R. RAMACHANDRA MENON
JUDGE
dnc