George vs 1. The Kaduthuruthi Regional Service ...

Kerala High Court

George vs 1. The Kaduthuruthi Regional Service ... on 12 April, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     FRIDAY, THE 12TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946
                        WP(C) NO. 9728 OF 2024


PETITIONER:

          GEORGE, AGED 67 YEARS, S/O. OUSEPH, KOLATTIN
          KOLLAMPARAMBIL HOUSE, AYANKUDI, MUTTUCHIRA,
          KOTTAYAM, PIN - 686613

          BY ADVS.
          AMJATHA D.A.
          FARHANA K.H.


RESPONDENTS:

    1     THE KADUTHURUTHI REGIONAL SERVICE CO-OPERATIVE
          BANK LTD. NO. 4061, REPRESENTED BY ITS AUTHORISED
          OFFICER, ASSISTANT REGISTRAR (GENERAL) OFFICE,
          VAIKOM, KOTTAYAM, PIN - 686604

    2     SPECIAL SALE OFFICER, KADUTHURUTHI REGIONAL SERVICE
          CO-OPERATIVE BANK LTD. NO, ASSISTANT REGISTRAR
          (GENERAL) OFFICE, VAIKOM, KOTTAYAM, PIN - 686604

          BY ADVS.
          T.R.HARIKUMAR
          ARJUN RAGHAVAN(K/1277/2012)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC 9728/24
                                      2

                            JUDGMENT

When this matter was called today, the learned Standing Counsel for the respondent-Bank, submitted that, even though an amount of Rs.4 Lakhs was directed to be paid by the petitioner within a period of one month, through the interim order of this Court dated 12.03.2024, he has not done so. He added that, if the petitioner is willing to pay Rs.4 Lakhs on or before 15.05.2024, his loan account can be settled for a total amount of Rs.37,22,000/-, as on 12.04.2024, along with all applicable charges and interest, provided the same is paid by him in not more than 24 equal monthly installments.

2. The learned counsel for the petitioner - Smt.Amjatha D.A, accepted the afore suggestion.

Taking note of the afore submissions, I allow this Writ Petition, directing the petitioner to pay Rs.4 Lakhs on or before 15.05.2024, as also the aforementioned amount, along with all applicable charges and interest, in 24 equal monthly installments commencing from 01.07.2024.

3

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 installments are defaulted, the benefit of this judgment will be lost to him and the Bank will be at full liberty to pursue further action pursuant to Ext.P1 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 pursuant to Ext.P1 will stand deferred.

Sd/-

RR                                      DEVAN RAMACHANDRAN
                                               JUDGE
 WPC 9728/24
                               4

                APPENDIX OF WP(C) 9728/2024

PETITIONER EXHIBITS
Exhibit P1          TRUE COPY OF THE SALE NOTICE DATED

08.02.2024 ISSUED BY THE 2ND RESPONDENT