S. Haridas vs The Naruvamoodu Service Co-Operative ...

Kerala High Court

S. Haridas vs The Naruvamoodu Service Co-Operative ... on 21 May, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
               THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
         TUESDAY, THE 21ST DAY OF MAY 2024 / 31ST VAISAKHA, 1946
                          WP(C) NO. 23385 OF 2023
PETITIONER:

              S. HARIDAS
              AGED 41 YEARS, S/O SASIDHARAN
              KALLARATHALA, KIZHAKKUMKARA VEEDU, MUKKAMPALAMOODU,
              NARUVAMOODU NARUVAMOODU P.O, PIN - 695528
              BY ADV M.R.SARIN


RESPONDENTS:

     1        THE NARUVAMOODU SERVICE CO-OPERATIVE BANK
              LTD.NO. 160, NARUVAMOODU,PALLICHAL, THIRUVANANTHAPURAM,
              REPRESENTED BY ITS SECRETARY., PIN - 695001
     2        THE SPECIAL SALE OFFICER FOR ASSISTANT REGISTRAR/
              ARBITRATOR OF THE NARUVAMOODU SERVICE CO-OPERATIVE BANK,
              LTD.NO. 160, NARUVAMOODU,PALLICHAL, THIRUVANANTHAPURAM,
              PIN - 695001.
              BY ADVS.
              P.N.MOHANAN
              C.P.SABARI(K/973/2010)
              AMRUTHA SURESH(K/000971/2016)
              GILROY ROZARIO(K/399/2021)
              SUNITHA G.(K/103/2013)



              SMT AMRUTHA SURESH


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 23385 OF 2023
                                             2

                                      JUDGMENT

When this matter was called today, the learned Standing Counsel for respondents 1 and 2 - Naruvamoodu Service Co-operative Bank ("Bank" for short), submitted that the loan account of the petitioner involved in this case can be settled for a total amount of Rs.5,03,191/-, as on 21.05.2024, along with all applicable charges and interest, provided same is paid by him in not more than 12 equal monthly installments.

2. The learned counsel for the petitioner - Sri.Sarin, 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 12 equal monthly installments commencing from 15.06.2024. WP(C) NO. 23385 OF 2023 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. 23385 OF 2023 4 APPENDIX OF WP(C) 23385/2023 PETITIONER'S EXHIBITS:

Exhibit P1 THE TRUE COPY OF NOTICE IN A.R C NO. 68/2014 PASSED BY THE 2ND RESPONDENT UNDER RULE 81 (B) AND (B) OF THE KERALA CO-OPERATIVE SOCIETIES ACT 21 OF 1969