IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
WP(C) NO. 9777 OF 2022
PETITIONER/S:
SAJEENA
AGED 37 YEARS
MACHINGHAL MANNANCHERY HOUSE
ARAKKAL P O THENNALA
MALAPPURAM DISTRICT, PIN - 676508
BY ADVS.
SAIJO HASSAN
BENOJ C AUGUSTIN
RAFEEK. V.K.
P.PARVATHY
AATHIRA SUNNY
ABHIRAMI DINESH
RESPONDENT:
AUTHORISED OFFICER
(CHIEF EXECUTIVE OFFICER)
THE KOTTAKKAL CO-OPERATIVE URBAN BANK LTD
NO.1378,KOTTAKKAL
MALAPPURAM
DISTRICT, PIN - 676503
BY SRI. DEVAPRASANTH.P.J., SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 9777 OF 2022
2
MOHAMMED NIAS. C.P.,J
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WP(C) No. 9777 of 2022
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Dated this the 29th day of April, 2022
JUDGMENT
The petitioner's husband availed a loan from the respondent bank for Rs.25,00,000/- in January, 2020 by creating mortgage of residential property as the secured asset. Due to Covid pandemic, repayments were not made in time and the same led to proceedings for recovery against the petitioner's husband.
2. The limited prayer of the petitioner in this writ petition is to grant instalment facility to pay the overdue amounts and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding overdue as on today is Rs.6,41,759/-
4. Taking into account the averments in the writ petition and after hearing the learned counsel on either side, I direct the petitioners to remit an amount of Rs.50,000/- on or WP(C) NO. 9777 OF 2022 3 before 4.5.2022 and another Rs.50,000/- on or before 15.05.2022 and the balance will be paid in 18 equal monthly instalments and continue to pay the regular amount.
5. In the said circumstances this writ petition is disposed of permitting the petitioner's husband to clear off the overdue amounts as aforesaid due to the respondent bank in 18 equal monthly instalments starting from 15.06.2022. The petitioner's will also be liable to pay the applicable EMI with the accrued interest, if any, continuously over and above the instalments to pay off the overdue amounts.
6. It is made clear that if there are two defaults committed in paying the instalments at any time, the petitioner's husband will lose the benefit of this order and the respondent bank will be at liberty to proceed against the petitioner's husband on the basis of the recovery proceedings already initiated.
The writ petition is disposed of.
Sd/-
MOHAMMED NIAS. C.P.,JUDGE dlK 29.4.2022 WP(C) NO. 9777 OF 2022 4 APPENDIX OF WP(C) 9777/2022 PETITIONER'S EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 3.11.2021 ISSUED BY THE RESPONDENT