IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE T.R.RAVI
TUESDAY, THE 14TH DAY OF JUNE 2022 / 24TH JYAISHTA, 1944
WP(C) NO. 11274 OF 2022
PETITIONER:
RAJEEV K.
AGED 55 YEARS
LAL MANDIRAM, THUNDILKADA, KILIMANOOR P.O.,
PAZHAYAKUNNUMEL, THIRUVANANTHAPURAM - 695 601.
BY ADVS.
S.K.ADHITHYAN
GOKUL M.S
KEERTHI S. JYOTHI
RESPONDENTS:
1 KILIMANOOR CO-OPERATIVE AGRICULTURE AND RURAL
DEVELOPMENT BANK LTD NO. T.316
REPRESENTED BY ITS MANAGING DIRECTOR, KILIMANOOR P.O.,
THIRUVANANTHAPURAM - 695 601.
2 THE SPECIAL SALE OFFICER
KILIMANOOR COOPERATIVE AGRICULTURAL AND RURAL
DEVELOPMENT BANK LTD.NO.T 316, REPRESENTED BY ITS
SECRETARY, KILIMANOOR P.O.,
THIRUVANANTHAPURAM - 695 601.
BY ADVS.
ANJANA KANNATH
SRI.K.SIJU, SC, KILIMANOOR GRAMA PANCHAYAT
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 11274 OF 2022
2
JUDGMENT
The petitioner has approached this Court praying for permission to pay the amounts due to the respondent Bank in easy monthly instalments.
2. A statement has been filed on behalf of respondents 1 and 2. It is stated that the petitioner has availed two loans, one for Rs.15,00,000/-, which is payable in 180 monthly instalments from 30.08.2014 and another for Rs.8,00,000/- which is repayable in 120 monthly instalments from 16.06.2017. It is submitted that the amounts have periods up to 2029 and 2027 respectively. It is further stated that a sum of Rs.8,70,000/- is overdue in the first loan account and a sum of Rs. 5,50,000/- is overdue in the 2nd loan account. The total overdue amount comes to Rs.14,20,000/-.
Considering the difficulty expressed by the petitioner's counsel for making the payment of the overdue amount immediately and the fact that both the loans have further duration of more than five years, the writ petition is disposed of permitting the petitioner to pay the amounts overdue in WP(C) NO. 11274 OF 2022 3 equal monthly instalments of Rs.1,00,000/- each, the 1 st instalment falling due on or before 15.07.2022 and the subsequent instalments falling due on or before the 15 th day of the succeeding months. The petitioner shall also pay the regular monthly instalments towards the loan accounts along with the aforesaid amount of Rs.1,00,000/- each. The bank may appropriate the amount of Rs.1,00,000/- towards the two loan accounts based on the ratio of the outstanding amounts. If the petitioner makes continuous defaults of two instalments, the respondents are free to initiate coercive steps against the petitioner. Coercive steps for recovery shall be kept in abeyance in order to facilitate payment in instalments.
Sd/-
T.R.RAVI JUDGE mpm WP(C) NO. 11274 OF 2022 4 APPENDIX OF WP(C) 11274/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE SEND BY THE 2ND RESPONDENT DATED 24/01/2022 IN EP 12/21 & EP 13/21.
Exhibit P2 TRUE COPY OF THE SALE NOTICE DATED 15/12/2021 ISSUED BY THE 2ND RESPONDENT.