IN THE HIGH COURT OF KERALA AT ERNAKULAM
WA.No. 783 of 2009()
1. JACOB P. JOHN, AGED 45 YEARS,
... Petitioner
Vs
1. BANK OF INDIA,
... Respondent
2. BANK OF INDIA,
For Petitioner :SRI.PAUL K.VARGHESE
For Respondent : No Appearance
The Hon'ble the Chief Justice MR.S.R.BANNURMATH
The Hon'ble MR. Justice KURIAN JOSEPH
Dated :02/04/2009
O R D E R
S.R. Bannurmath, C.J. & Kurian Joseph, J.
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W.A.No. 783 OF 2009
and
W.P.(C) No. 9681 OF 2009
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Dated this, the 2nd day of April, 2009
JUDGMENT
Kurian Joseph, J.
Appellant is the petitioner. He approached this Court
aggrieved by the recovery steps initiated by the 1st
respondent Bank. The learned Single Judge by interim order
dated 27.03.09, directed the writ petitioner to pay the
defaulted amounts in instalments. It was made clear that on
payment of the amounts as stated in the interim order, the
proceedings for recovery will be deferred and in the event of
default in the matter of deposit as per the interim order, the
order itself would stand recalled. When the writ appeal came
up before us we find that nothing survives after the disposal
of the writ appeal and hence by consent of all the parties, we
called for the writ petition also to be disposed of along with
the writ appeal.
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2. Learned counsel for the appellants submits that he
needs only a breathing time and if six months’ time is given, he
would be in a position to pay off the entire defaulted arrears. It
is also submitted that since the loan is well secured, the Bank
need not have any apprehension otherwise.
3. After having heard Sri.Devan Ramachandran, learned
counsel appearing for the Bank, we find that it will be in the
interest of the Bank also that some arrangement for payment is
made. Therefore, we dispose of the writ appeal and also the writ
petition as follows:
The appellant will make payment of Rs.2 lakhs within a
period of one month from today. Within six months thereafter
the appellant will pay the entire defaulted arrears including the
defaulted EMI accruing during the said period of 7 months. If
either of these conditions is not satisfied, we make it clear that it
will be open to the Bank to proceed with the recovery. Needless
to say that, on complying with the first condition as above, the
recovery proceedings will be deferred till the period referred to
above. We also make it clear that on payment of the entire
WA No. 783/09
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arrears as above, steps will be taken by the Bank for
regularisation of the loan, subject to the petitioner complying
with the required formalities.
S.R. Bannurmath,
Chief Justice.
Kurian Joseph,
Judge.
ttb