Kerala High Court
Chackochan Njanackal vs Branch Manager on 11 April, 2024
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
THURSDAY, THE 11TH DAY OF APRIL 2024 / 22ND CHAITHRA, 1946
WP(C) NO. 8994 OF 2024
PETITIONER:
CHACKOCHAN NJANACKAL
AGED 49 YEARS
S/O.JOSEPH, NHANACKAL HOUSE, ARANGU.P.O, NADUVIL (VIA),
NEW NADUVIL AMSOM, TALIPARAMBA TALUK, KANNUR DISTRICT,
PIN - 670582
BY ADVS.
V.T.MADHAVANUNNI
V.A.SATHEESH
GAYATHRI C.H.
RESPONDENTS:
1 BRANCH MANAGER
THE TALIPARAMBA PRIMARY CO-OPERATIVE AGIRCULTURAL & RURAL
DEVELOPMENT BANK LIMITED, NADUVIL BRANCH, NADUVIL.P.O,
KANNUR DISTRICT, PIN - 670582
2 THE TALIPARAMBA PRIMARY CO-OPERATIVE AGRICULTURAL & RURAL
DEVELOPMENT BANK LIMITED
HEAD OFFICE, TALIPARAMBA.P.O, KANNUR DISTRICT,
REPRESENTED BY ITS SECRETARY, PIN - 670141
3 SPECIAL SALE OFFICER
TALIPARAMBA PRIMARY CO-OPERATIVE AGRICULTURAL & RURAL
DEVELOPMENT BANK, TALIPARAMBA.P.O, KANNUR DISTRICT, PIN -
670141
BY ADV M.SASINDRAN SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 8994 OF 2024
2
JUDGMENT
When this matter was called today, Sri.M.Sasindran - learned Standing Counsel for the 2nd respondent - 'Taliparamba Primary Co-opearative Agricultural & Rural Development Bank' ("Bank"), submitted that the loan account of the petitioner involved in this case can be settled for a total amount of Rs.10,27,967/-, as on 14.12.2023, along with all applicable charges and interest, provided same is paid by him in not more than 20 equal monthly installments.
2. The learned counsel for the petitioner - Sri.T.Madhavanunni, accepted the afore suggestion.
Taking note of the afore submissions and in order to obtain a balance between the rival interests of the parties, I allow this writ petition, permitting the petitioner to pay off the aforementioned amount, along with all applicable WP(C) NO. 8994 OF 2024 3 charges and interest, in 20 equal monthly installments commencing from 01.06.2024.
Needless to say, if the amounts as afore are paid by the petitioner, the account will stand closed and the Bank will return to him all security documents as are necessary; but, if on the contrary, any two instalments are defaulted, the benefit of this judgment will be lost to him and the Bank will be at full liberty to pursue further action, without having to obtain further orders from this Court.
It is also needless to say, therefore, that as long as the amounts as afore are paid, all further action will stand deferred.
Sd/-
DEVAN RAMACHANDRAN JUDGE SAS WP(C) NO. 8994 OF 2024 4 APPENDIX OF WP(C) 8994/2024 PETITIONER'S EXHIBITS:
Exhibit-P1 A TRUE COPY OF THE NOTICE DATED 14-12-2022 ISSUED BY THE 3RD RESPONDENT