Mahendran.U v. M/S. Idfc First Bank Limited

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 22.03.2024

CORAM:

THE HONOURABLE MR.JUSTICE D.KRISHNAKUMAR AND THE HONOURABLE MR.JUSTICE R.VIJAYAKUMAR W.P.(MD)No.6286 of 2024 and W.M.P.(MD)Nos.5884 to 5886 of 2024 1.U.Mahendran 2.M.Manimala ... Petitioners -Vs1.M/s.IDFC First Bank Limited, Rep. by its Authorized Officer, C.Kannan 2.M.Pandeeswaran ... Respondents PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorarified Mandamus, to call for the records in Cr.M.P.No.104 of 2024, dated 20.02.2024 on the file of the learned Chief Judicial Magistrate, Madurai and quash the same and consequently, to direct the 1st respondent to receive payment from the petitioner within the time frame stipulated by this Court. For Petitioners : Mr.S.Srikanth, for M/s.APN Law Associates For R1 : Mr.A.Sivasubramanian For R2 : No Appearance

ORDER

[Order of the Court was made by D.KRISHNAKUMAR, J.] After elaborate arguments, the learned counsel for the 1st respondent submitted that as on 07.12.2023, the total outstanding amount comes to Rs.47,28,595/- (Rupees Forty Seven Lakhs Twenty Eight Thousand Five Hundred and Ninety Five Only) and the petitioners have agreed to pay a sum of Rs.15,00,000/- (Rupees Fifteen Lakhs Only) as first instalment on or before 22.04.2024 and the balance amount in six equated monthly instalments to the respondent Bank.

2.In view of the said agreement reached between the parties, we are inclined to pass the following order:- (i)The petitioners are directed to pay a sum of Rs.15,00,000/- to the respondent Bank on or before 22.04.2024;

(ii)The remaining outstanding amount is directed to be paid by the petitioners in six equated monthly installments on or before 22nd day of every English Calender month, commencing from May, 2024; and (iii)The interest that accrues in the interregnum shall be paid along with the last installment ie., 22.10.2024.

3.We make it clear that if the petitioners have not paid any one of the aforesaid installments, it is open to the respondent Bank to proceed in accordance with law.

4.With the above direction, this Writ Petition stands disposed of. No costs. Consequently, connected miscellaneous petitions are closed. [D.K.K., J.] & [R.V., J.] 22.03.2024 (2/2) NCC : Yes / No Index : Yes / No Internet : Yes / No Yuva

D.KRISHNAKUMAR, J.

AND R.VIJAYAKUMAR , J.

Yuva W.P.(MD)No.6286 of 2024 22.03.2024