IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
TUESDAY, THE 1ST DAY OF AUGUST 2023 / 10TH SRAVANA, 1945
WP(C) NO. 25016 OF 2023
PETITIONER:
ALASSAN A.T, AGED 67 YEARS,
S/O ABDURAHIMAN, AREKKATTUTHODI HOUSE,
KULANGARA, VALAKKULAM POST,
MALAPPURAM DT., PIN - 676508.
BY ADVS.
T.K.AJITH KUMAR
HARITHA HARIDAS
RESPONDENTS:
1 KOTTAKKAL CO-OPERATIVE URBAN BANK LTD, NO: 1378,
HO KOTTAPPADI, KOTTAKKAL (PO),
MALAPPURAM DT., PIN - 676503,
REPRESENTED BY ITS GENERAL MANAGER.
2 AUTHORISED OFFICER/ CHIEF EXECUTIVE OFFICER,
KOTTAKKAL CO-OPERATIVE URBAN BANK LTD, NO: 1378,
KOTTAKKAL (PO), MALAPPURAM DT., PIN - 676503.
BY ADV DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 25016 OF 2023
-2-
JUDGMENT
When this matter was called today, Sri.P.J.Devaprasanth - learned Standing Counsel for the respondents, submitted that, if the petitioner is willing to pay off the total outstanding amount in his loan account, namely Rs.7,88,682/-, as on 01.08.2023, with applicable charges and interest, he can be allowed to do the same in 12 equal monthly installments and thus avert the recovery action against his secured assets.
2. Sri.T.K.Ajith Kumar - learned counsel for the petitioner, submitted that his client will accept the afore offer and prayed that this writ petition be ordered on such terms.
In the afore circumstances, I order this writ petition, granting liberty to the petitioner to pay off the total outstanding amount in the loan account, which is stated to WP(C) NO. 25016 OF 2023 -3- be Rs.7,88,682/- ((Rupees seven lakhs eighty eight thousand six hundred and eighty two only) as on 01.08.2023, along with all applicable charges and interest, in 12 equal monthly installments, commencing from 25.08.2023.
If the afore payment is made, the loan account will stand closed and the title deeds and such other security documents will be returned to the petitioner.
Needless to say, if the petitioner commits default in payment of any of the afore ordered installments, the respondent - Bank, will be at liberty to initiate and complete recovery action for the balance amount, without having to obtain any further orders from this Court.
Sd/-
DEVAN RAMACHANDRAN JUDGE akv WP(C) NO. 25016 OF 2023 -4- APPENDIX OF WP(C) 25016/2023 PETITIONER EXHIBITS EXHIBIT -P1 TRUE COPY OF THE APPLICATION NO. CMP 1283/2023 DATED 12.04.2023 ON THE FILE OF CJM COURT, MANJERI.
EXHIBIT -P2 TRUE COPY OF THE NOTICE DATED 18.05.2023 ISSUED BY THE ADVOCATE COMMISSIONER.