Jomon Rajan vs South Indian Bank And Ors

Even though a doubt has been raised at the Bar as to whether this review petition is maintainable, since an earlier one had already been allowed by

this Court, I do not propose to answer it on its merits because the singular request made by the petitioner today is that he be given time till 31.03.2021

to pay off the entire loan liability.

Sri.K.K.John, the learned standing counsel for the respondent â€" Bank, submitted that since the petitioner has exhibited complete disobedience to

the earlier directions of this Court, the Bank now proposes to take physical possession of the secured assets. He, however, submitted that if the

petitioner is willing to pay off the entire liability by 31.03.2021, the Bank will defer such action; but that the petitioner must pay at least 50% of the said

amount to show his bona fides within a period of one month.

Even though I have heard Sri.K.K.John on the afore lines, the fact remains that the petitioner has now approached this Court offering to pay the

entire liability on or before 31.03.2021. Obviously, therefore, it would not be necessary to test his bona fides by asking him to remit 50% of the loan

amount in one month as prayed for by Sri.K.K.John because the said period would expire only on 17.03.2021, which is a mere two weeks before the

date on which the petitioner offers to settle the account in full. I also take cognizance of the submissions of the petitioner that he has been constrained

to approach this Court now solely on account of the Covid - 19 pandemic disruptions.

In the afore circumstances, I allow this review petition to the limited extent of granting liberty to the petitioner to pay the entire liability under the loan

account on or before 31.03.2021, failing which, the Bank will be at liberty to take physical possession of the secured assets even the next day

thereafter and it is recorded that the petitioner has undertaken that he will not cause any physical obstruction to the same at that time.