Kerala High Court
Vishvankutty Achari vs Service Co-Operative Bank Ltd on 5 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 5TH DAY OF APRIL 2024 / 16TH CHAITHRA, 1946
WP(C) NO. 8532 OF 2024
PETITIONER:
VISHVANKUTTY ACHARI
AGED 58 YEARS
S/O VELAYUDHAN ACHARI, VALIYA VILA, PUTHENVEEDU, SOUTH
MYNAGAPPALLY, KUNNATHOOR, KOLLAM., PIN - 690519
BY ADV K.VINAYA
RESPONDENTS:
1 SERVICE CO-OPERATIVE BANK LTD
NO.Q 69, MYNAGAPPALLY, KARUNAGAPPALLY, KOLLAM,
REPRESENTED BY ITS SECRETARY, PIN - 690519
2 THE SPECIAL SALE OFFICER
MYNAGAPPALLY SCB GROUP, ASSISTANT REGISTRAR ( GENERAL),
SASTHAMCOTTAH, KOLLAM, PIN - 690521
BY ADVS.
K.SIJU SC (R1 & R2)
ANJANA KANNATH(K/939/2014)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO.8532 OF 2024
2
JUDGMENT
When this matter was called today, the learned Standing Counsel for the 1st respondent - 'Service Co-operative Bank Ltd.' ("Bank" for short), submitted that the loan account of the petitioner involved in this case can be settled for a total amount of Rs.29,35,365/-, as on 30.03.2024, 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 - Smt.K.Vinaya, 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 charges and interest, in 20 equal monthly installments commencing from 15.05.2024. WP(C) NO.8532 OF 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 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 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/-
DEVAN RAMACHANDRAN JUDGE SAS WP(C) NO.8532 OF 2024 4 APPENDIX OF WP(C) 8532/2024 PETITIONER'S EXHIBITS:
Exhibit P1 TRUE COPY OF THE AUCTION NOTICE IN EP NO:
18/2023 DATED 15/01/2024