Manoj K.M vs Peoples Urban Co-Operative Bank Ltd

Kerala High Court

Manoj K.M vs Peoples Urban Co-Operative Bank Ltd on 14 May, 2024

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
              THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
     TUESDAY, THE 14TH DAY OF MAY 2024 / 24TH VAISAKHA, 1946
                      WP(C) NO. 17626 OF 2024
PETITIONER:

             MANOJ K.M
             AGED 35 YEARS, S/O. MADHAVAN,
             KAMBALATH HOUSE,KALACHAL BUND ROAD,
             THUTHIYOOR , CSEZ P.O., KAKKANADU,
             KANAYANNOORE TALUK, ERNAKULAM DISTRICT,
             PIN - 682030
             BY ADVS.
             JOHN JOSEPH (ROY)
             JOSEPH FRANCIS


RESPONDENT:

             PEOPLES URBAN CO-OPERATIVE BANK LTD
             NO.51, THRIPUNITHURA P.O.,
             ERNAKULAM DISTRICT, PIN - 682301
             REPRESENTED BY ITS GENERAL MANAGER
             AND AUTHORISED OFFICER.
             BY ADV.
             SRI.DEVAPRASANTH P.J. - SC


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   14.05.2024,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P.(C). No.17626 of 2024          :2:



                              VIJU ABRAHAM, J.
                       ==========================
                          W.P.(C) No.17626 of 2024
                     =============================
                      Dated this the 14th day of May, 2024

                                 JUDGMENT

The petitioner has approached this Court challenging Ext.P2 notice and seeks that he may be permitted to pay the amount due in 12 equal monthly installments.

2. The learned Standing Counsel appearing for the Bank would submit that, as on date the total overdue amount is Rs.1,22,605/- (Rupees one lakh twenty two thousand six hundred and five only), and if the petitioner remits a substantial amount to show his bona fides, the sale proposed on 18.05.2024 will be kept in abeyance.

3. Considering the facts and circumstances of the case and submissions made across the bar, I dispose of the writ petition directing to regularise the loan amount on the following conditions:

i) The petitioner shall remit an amount of Rs.25,000/-

(Rupees twenty five thousand only) on or before, 17.05.2024.

ii) The balance amount along with the accrued interest and other charges shall be paid by the petitioner in eight W.P.(C). No.17626 of 2024 :3: equated monthly installments, commencing from 15.06.2024 and shall continue to pay the regular installments as per the original loan schedule.

iii) The subsequent installments shall be paid on or before the 15th of succeeding months.

iv) In the event of any single default in payment as directed above, the respondent bank shall be free to continue the recovery proceedings from the stage at which they presently stand.

v) It is made clear that if the petitioner complies with the aforesaid directions, further proceedings for recovery shall be kept in abeyance.

With the above said directions, this writ petition is disposed of.

Sd/-

VIJU ABRAHAM JUDGE anm W.P.(C). No.17626 of 2024 :4: APPENDIX OF WP(C) 17626/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 06-03-2024 ISSUED BY THE RESPONDENT TO THE PETITIONER Exhibit P2 TRUE COPY OF THE SALE NOTICE DATED 09-04- 2024 ISSUED BY THE RESPONDENT BANK AND SERVED ON THE PETITIONER RESPONDENT EXHIBITS : NIL.