Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH TUESDAY, THE 14TH DAY OF NOVEMBER 2023 / 23RD KARTHIKA, 1945 WP(C) NO. 33253 OF 2023 PETITIONER:
MUHAMMED RASHID VANIYA PEEDIYEKKAL, AGED 37 YEARS, S/O KUNHEEN HAJI PROPRIETOR, SHREELA PACKS, 12/387, KULUKKALLUR, PATTAMBI, PALAKKAD, PIN – 679 337.
BY ADVS.
ABHIJITH E.R.
SNEHA M.S.
RESPONDENTS:
1 YES BANK LTD FIRST FLOOR, PUTHURAN PLAZA, NORTHERN SIDE, KPCC JUNCTION, M. G. ROAD, ERNAKULAM, PIN – 682 011.
REPRESENTED BY ITS AUTHORISED OFFICER (APPOINTED UNDER THE SARFAESI ACT) 2 THE AUTHORISED OFFICER (APPOINTED UNDER THE SARFAESI ACT) YES BANK LTD, FIRST FLOOR, PUTHURAN PLAZA, NORTHERN SIDE, KPCC JUNCTION, M. G. ROAD, ERNAKULAM, PIN – 682 011.
BY ADVS.
P.PAULOCHAN ANTONY P SREEJITH K.(K/380/2005) R.GIRISH(K/967/1998) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14.11.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT Dated this the 14th day of November, 2023 The petitioner has approached this Court seeking to direct the 1st respondent-Bank to release the Goods Carriage vehicle identified in Ext.P3, which has been seized by the respondent-Bank. The petitioner submits that the Bank is likely to take over physical possession of the vehicles covered by Exts.P4 and P5 alleging arrears in payment of EMIs. The vehicle covered by Ext.P3 has already been seized by the respondents. The petitioner states that the petitioner defaulted six EMIs, but he is making payment of current EMIs promptly. If the petitioner is given 20 months time to pay the arrears in equal monthly instalments, the petitioner will be able to clear the dues.
2.
Standing Counsel entered appearance on behalf of the 1st respondent-Bank and resisted the writ petition. The Standing Counsel submitted that vehicle loans were granted to the petitioner for purchase of four vehicles, in the year 2022. The
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total outstanding amount as on date due from the petitioner would come to Rs.1,28,36,889/- and the overdue amount would be Rs.12,16,173/-. If the petitioner remits a bulk amount on or before 30.11.2023 and submits an application for regularisation of the loan, the Bank can consider the same in accordance with law.
In the afore facts of the case, the writ petition is disposed of directing the petitioner to pay an amount of Rs.2,00,000/- on or before 30.11.2023. In the meanwhile, the petitioner may file an application before the respondents for facility to clear the overdue amount in instalments. If the petitioner remits Rs.2,00,000/- on or before 30.11.2023 and makes an application to the Bank as directed above, coercive proceedings, if any, shall stand deferred till a Bank takes a decision in the matter.
Sd/- N. NAGARESH
JUDGE AMR
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APPENDIX OF WP(C) 33253/2023 PETITIONER'S EXHIBITS Exhibit P1 A TRUE COPY OF THE GST REGISTRATION CERTIFICATE DATED 21/12/2018 ISSUED TO THE PETITIONER EVIDENCING HIS PROPRIETORSHIP OF M/S SHREELA PACKS IS PRODUCED HEREWITH AND MARKED AS EXHIBIT P1.
Exhibit P2 A TRUE COPY OF THE GST CERTIFICATE DATED 27/02/2021 ISSUED TO THE PETITIONER WITH RESPECT TO HIS BUSINESS CONCERN AT MAHARASHTRA IS PRODUCED HEREWITH AND MARKED AS EXHIBIT P2.
Exhibit P3 A TRUE COPY OF THE REGISTRATION CERTIFICATE OF GOODS VEHICLE NUMBER MH 04 LE 9064 DATED 03/04/2023 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT P3.
Exhibit P4 A TRUE COPY OF THE REGISTRATION CERTIFICATE OF GOODS VEHICLE NUMBER MH 04 LE 9060 DATED 03/04/2023 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT P4.
Exhibit P5 A TRUE COPY OF THE REGISTRATION CERTIFICATE OF GOODS VEHICLE NUMBER MH 04 LE 9061 DATED 03/04/2023 IS PRODUCED HEREWITH AND MARKED AS EXHIBIT P5.