Kerala High Court
Binoy K.R vs Kerala State Co-Operative Bank 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. 13716 OF 2022
PETITIONER:
BINOY K.R., AGED 53 YEARS
S/O.KUNJURAMAN, BINDU BHAVANAM,
PERINGANADU, ADOOR, PATHANAMTHITTA,
PIN - 689 711.
BY ADV V.VISAL AJAYAN
RESPONDENT:
KERALA STATE CO-OPERATIVE BANK
VILAVINAL RAJ TOWERS, COLLEGE ROAD,
PATHANAMTHITTA, PIN - 689 645,
REPRESENTED BY ITS SECRETARY.
BY ADV
N.RAGHURAJ
K.AMMINIKUTTY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC 13716/22
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JUDGMENT
When this matter was called today, the learned Standing Counsel for the respondent-Bank, submitted that the loan account of the petitioner involved in this case can be settled for a total amount of Rs.13,66,796/-, as on 11.04.2024, along with all applicable charges and interest, provided same is paid by him in not more than 18 equal monthly installments.
2. The learned counsel for the petitioner - Sri.Vishal Ajayan V., accepted the afore suggestion.
Taking note of the afore submissions, I allow this Writ Petition, permitting the petitioner to pay off the aforementioned amount, along with all applicable charges and interest, in 18 equal monthly installments commencing from 01.06.2024. He shall, in addition to this, also pay the regular EMIs without fail.
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 WPC 13716/22 3 judgment will be lost to him and the Bank will be at full liberty to pursue further action pursuant to Exts.P1 and P2 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 Exts.P1 and P2 will stand deferred.
Sd/-
RR DEVAN RAMACHANDRAN
JUDGE
WPC 13716/22
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APPENDIX OF WP(C) 13716/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE PLAINT SUBMITTED BY THE
RESPONDENT BEFORE THE ASSISTANT REGISTER OF DATED 28/09/2021.
Exhibit P2 TRUE COPY OF THE SUMMON ISSUED BY THE ASSISTANT REGISTER OF KERALA STATE CO-
OPERATIVE BANK TO THE PETITIONER DATED 10/02/2022.