{"id":120240,"date":"2010-08-31T00:00:00","date_gmt":"2010-08-30T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/m-m-mujeeb-rahman-vs-the-standard-chartered-bank-on-31-august-2010"},"modified":"2014-03-17T12:39:21","modified_gmt":"2014-03-17T07:09:21","slug":"m-m-mujeeb-rahman-vs-the-standard-chartered-bank-on-31-august-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/m-m-mujeeb-rahman-vs-the-standard-chartered-bank-on-31-august-2010","title":{"rendered":"M.M.Mujeeb Rahman vs The Standard Chartered Bank on 31 August, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">M.M.Mujeeb Rahman vs The Standard Chartered Bank on 31 August, 2010<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 24159 of 2010(T)\n\n\n1. M.M.MUJEEB RAHMAN, S\/O.MOOSA,\n                      ...  Petitioner\n2. MRS.MUNEERA K.M., W\/O.MUJEEB RAHMAN,\n\n                        Vs\n\n\n\n1. THE STANDARD CHARTERED BANK,\n                       ...       Respondent\n\n2. THE AUTHORIZED OFFICER,\n\n                For Petitioner  :SRI.K.I.ABDUL RASHEED\n\n                For Respondent  :SRI.PRADEESH CHACKO\n\nThe Hon'ble MR. Justice C.T.RAVIKUMAR\n\n Dated :31\/08\/2010\n\n O R D E R\n                          C.T. RAVIKUMAR, J.\n\n                - - - - - - - - - - - - - - - - - - - - - - - - - - - -\n                   W.P. (C) No. 24159 OF 2010\n                - - - - - - - - - - - - - - - - - - - - - - - - - - - -\n              Dated this the 31st day of August, 2010\n\n                              J U D G M E N T\n<\/pre>\n<p>             The petitioners who are man and wife, had availed<\/p>\n<p>a loan for an amount of Rs.1,40,27,953\/- offering their<\/p>\n<p>property as a collateral security. The first E.M.I was payable<\/p>\n<p>on 5.5.2009. Later, alleging continued delay in payment of<\/p>\n<p>installments towards the said loan account the respondents<\/p>\n<p>have issued Exts.P4 and P5 notices to the petitioners. It is<\/p>\n<p>challenging Exts. P4 and P5 that this writ petition has been<\/p>\n<p>filed.\n<\/p>\n<p>      2. On 3.8.2010 when this matter came up for admission,<\/p>\n<p>this court passed an interim order as follows:<\/p>\n<blockquote><p>      &#8220;Urgent notice on admission to the respondents by speed<br \/>\n      post returnable within 10 days.\n<\/p><\/blockquote>\n<blockquote><p>            &#8216;Status quo&#8217; shall be maintained for a period of one<br \/>\n      month on condition that, the petitioner deposits a sum of<br \/>\n      Rs. 3 lakhs (Rupees three lakhs only) on or before<br \/>\n      20.8.2010, besides effecting the regular EMI in respect of<br \/>\n      August 2010, on 5.8.2010.             It is made clear that no<br \/>\n      petition for enlargement of time will be entertained under<br \/>\n      any circumstances.&#8221;\n<\/p><\/blockquote>\n<p>The learned counsel for the respondents submitted that at<\/p>\n<p>present amount in arrear towards the said loan account is<\/p>\n<p>WPC.24159\/2010<br \/>\n<span class=\"hidden_text\">                               : 2 :<\/span><\/p>\n<p>Rs.5,22,721.99\/-. If the petitioners pay off the entire arrears<\/p>\n<p>and undertake to effect the E.M.I in terms of the agreement,<\/p>\n<p>the loan can be regularized, it is further submitted. Learned<\/p>\n<p>counsel for the petitioners submits that the petitioners are<\/p>\n<p>prepared to pay an amount of Rs.2,00,000\/-(two lakhs only) on<\/p>\n<p>or before 6.9.2010 and they would pay off the entire arrears<\/p>\n<p>towards the loan account on or before 23.9.2010. It is also<\/p>\n<p>submitted that the petitioner would remit E.M.I as originally<\/p>\n<p>scheduled. The learned counsel for the respondents submits<\/p>\n<p>that in case, the petitioners comply with the said undertaking,<\/p>\n<p>the loan account would be regularized.<\/p>\n<p>      3. In this circumstances, this writ petition is disposed of<\/p>\n<p>with the following terms:-\n<\/p>\n<p>      Exts.P4 and P5 are set aside on condition that the<\/p>\n<p>petitioners deposit an amount of Rs.2,00,000\/- towards the<\/p>\n<p>arrears outstanding in the loan account on or before 6.9.2010<\/p>\n<p>and the balance amount of arrears on or before 23.9.2010.<\/p>\n<p>The petitioners shall also effect payment of the regular E.M.I<\/p>\n<p>as originally scheduled under the agreement.        In case the<\/p>\n<p>petitioners effects the payment as directed above the<\/p>\n<p>WPC.24159\/2010<br \/>\n<span class=\"hidden_text\">                             : 3 :<\/span><\/p>\n<p>respondents shall regularize their loan account. In case of<\/p>\n<p>failure on the part of the petitioners in remitting the<\/p>\n<p>installments as agreed and directed above it will be open to<\/p>\n<p>the respondents to take further action in accordance with law.<\/p>\n<p>                                          Sd\/-\n<\/p>\n<p>                                 (C.T. RAVIKUMAR, JUDGE)<\/p>\n<p>jma<br \/>\n               \/\/true copy\/\/<\/p>\n<p>                                     P.A to Judge<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court M.M.Mujeeb Rahman vs The Standard Chartered Bank on 31 August, 2010 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 24159 of 2010(T) 1. M.M.MUJEEB RAHMAN, S\/O.MOOSA, &#8230; Petitioner 2. MRS.MUNEERA K.M., W\/O.MUJEEB RAHMAN, Vs 1. THE STANDARD CHARTERED BANK, &#8230; Respondent 2. THE AUTHORIZED OFFICER, For Petitioner :SRI.K.I.ABDUL RASHEED For Respondent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-120240","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M.M.Mujeeb Rahman vs The Standard Chartered Bank on 31 August, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/m-m-mujeeb-rahman-vs-the-standard-chartered-bank-on-31-august-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M.M.Mujeeb Rahman vs The Standard Chartered Bank on 31 August, 2010 - Free Judgements of Supreme Court &amp; 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