Ashok Kumar vs Kerala State Co-Operative Bank ...
2021 Latest Caselaw 11829 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 09TH DAY OF APRIL 2021 / 19TH CHAITHRA, 1943

                        WP(C).No.8497 OF 2021(J)


PETITIONER/S:

                ASHOK KUMAR
                AGED 51 YEARS
                S/O. NARAYANAN, KOCHUVELI, VARANAM P.O., ALAPPUZHA
                DISTRICT

                BY ADVS.
                SRI.JOSEPH RONY JOSE
                SRI.E.A.JOSE
                SRI.K.G.GOPAKUMAR
                SMT.K.N.NAZEERA

RESPONDENT/S:

      1         KERALA STATE CO-OPERATIVE BANK LTD.
                (ERSTWHILE ALAPPUZHA DISTRICT CO OPERATIVE BANK LTD),
                COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM DISTRICT-
                695 033, REPRESENTED BY ITS CHIEF GENERAL MANAGER

      2         KERALA STATE CO-OPERATIVE BANK LTD,
                (ERSTWHILE ALAPPUZHA DISTRICT CO OPERATIVE BANK LTD),
                PUTHENANGADY BRANCH, MUHAMMA ALAPPUZHA DISTRICT-688
                555 , REPRESENTED BY ITS BRANCH MANAGER


OTHER PRESENT:

                SC- SRI. THOMAS ABRAHAM

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.8497 OF 2021(J)

                                          2

                                      JUDGMENT

Dated this the 9th day of April 2021

Heard both sides.

2. The petitioner has availed loans from the 2 nd respondent and he

had defaulted in payment of those loans. Resultantly, the respondent had

issued notice at Ext.P1.

3. The learned counsel for the petitioner submits that the petitioner

wants to regularize the loan by repaying the defaulted amount in instalments.

The learned standing counsel appearing for the respondents submits that the

defaulted amount is about Rs.1,17,416/- and if the petitioner pays that

amount in instalments, the same can be accepted.

In this view of the matter, the petition is disposed of with a direction to

the petitioner to pay the entire overdue amount with interest and other

charges if any, in twelve equated successive monthly instalments

commencing from 19/04/2021. In addition, the petitioner should also pay

EMIs regularly. If this direction is followed, then the respondents shall keep

the coercive action under the SARFAESI Act in abeyance. A single default by

the petitioner shall entail the respondents to continue with the SARFAESI

action taken under the SARFAESI Act. It is made clear that no further

extension of time to comply with this order shall be granted to the petitioner.

SD/-

                                                      A.M.BADAR
Nsd                                                      JUDGE
 WP(C).No.8497 OF 2021(J)



                           APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1           THE PHOTOSTAT COPY OF THE CAUTION NOTICE
                     DATED 04.02.2021

EXHIBIT P2           THE PHOTOSTAT COPY OF THE CAUTION NOTICE
                     DATED 04.02.2021