Niya Soman vs The Kerala State Co-Operative ...

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
            THE HONOURABLE MR. JUSTICE SATHISH NINAN
   FRIDAY, THE 27TH DAY OF MAY 2022 / 6TH JYAISHTA, 1944
                      WP(C) NO. 27225 OF 2021
PETITIONER:

            NIYA SOMAN,AGED 28 YEARS,D/O.SOMAN, MAVILA
            THEKKETHIL, AYANIKULANGARA, SVM P.O.,
            KARUNAGAPALLY, KOLLAM, PIN-690 573.
            BY ADVS.
            AJAYA KUMAR. G
            M.JAYAKRISHNAN
RESPONDENTS:

    1       THE KERALA STATE CO-OPERATIVE BANK LTD.,
            REPRESENTED BY THE AUTHORIZED OFFICER, HEAD
            OFFICE, KOLLAM, PIN-691 001.
    2       THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE
            BANK LTD., KARUNAGAPALLY BRANCH, KARUNAGAPALLY
            P.O., KOLLAM, PIN-690 518.


            SR.G.P SRI BIMAL.K.NATH


     THIS     WRIT   PETITION     (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   27.05.2022,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
                         Sathish Ninan, J.
                 ==============================
                     W.P(C) No.27225 of 2021
                   ==========================
              Dated this the 27th day of May, 2022

                               JUDGMENT

Repayment of the credit facility availed by the petitioner from the respondent Bank was defaulted. The loan was availed with the brother of the petitioner as a co-obligant. Unfortunately he met with an accident and passed away in the year 2017. The younger sister of the petitioner got diagnosed with Kidney disease and is advised for kidney transplantation. The petitioner is in grave financial constraints which resulted in default in the loan account. The petitioner seeks for an opportunity to have the loan account in question regularised.

2. Heard the learned counsel for the petitioner and the learned standing counsel for the Bank.

3. The learned standing counsel for the Bank submits that further term is available for the facility W.P(C)No.27225 of 2021 -: 2 :- in question and that an opportunity for regularisation could be granted provided the interests of the Bank is not affected.

4. Considering the facts and circumstances as noticed first above, including the financial constraints projected and the quantum of amount involved, I am of the opinion that an opportunity can be granted to have the loan account regularised.

Accordingly, the writ petition is disposed of with the following directions:

1) Petitioner shall be permitted to have the loan account regularised on payment of the entire overdue amount, with interest and costs, in eight equal monthly instalments commencing from 20.06.2022.

2) Subsequent instalments shall be payable on or before the 20th day of the subsequent months.

3) The instalments as above shall be in addition to the regular EMIs payable in the loan account.

4) In case of default in payment of a single instalment, the petitioner will lose the benefit granted under this judgment and further proceedings for recovery can go on.

Sd/-

Sathish Ninan, Judge vdv APPENDIX OF WP(C) 27225/2021 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEATH CERTIFICATE DATED 25.11.2021 ISSUED BY THE REGISTRAR OF BIRTH AND DEATH, KOLLAM CORPORATION.

Exhibit P2 TRUE COPY OF THE RELEVANT PAGES OF THE LOAN PASS BOOK OF THE PETITIONER.

Exhibit P3 DEMAND NOTICE DATED 05.02.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.

Exhibit P4 DEMAND NOTICE DATED 03.11.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.