Branch Manager vs Akhil P.V

Viju Abraham, J

The above review petition is filed seeking review of the judgment dated 18.4.2023 in WP(C) No.12950 of 2023, wherein a direction was issued to the bank to permit the repayment of the entire overdue amount in instalments and on payment of the same to regularize the loan account of the petitioner. It is essentially aggrieved by the said direction to regularize the loan account that the present review petition has been filed.

The learned counsel appearing for the review petitioner would submit that the aforesaid amount of Rs.8,94,744/- as on 11.4.2023 is the total amount due and not the overdue amount and the bank has agreed to accept the total dues of Rs.8,94,744/- along with future interest, costs and expenses in instalments and that they have not agreed for regularization of the account and further that the loan period was for 13 years and the same will expire in the year 2024. The said submission of the learned counsel appearing for the review petitioner is not refuted by the learned counsel appearing for the writ petitioner.

Therefore, the review petition is disposed of as follows: It is clarified that the amount of Rs.8,94,744/- is not the overdue amount, but the total outstanding. Therefore, there need not be any regularization of the loan account of the petitioner. The total amount of Rs.8,94,744/-directed to be paid along with the bank charges is the entire outstanding amount and the direction to the bank to regularize the loan account is hereby recalled.

With the above said direction, the review petition is disposed of.