Manoj T Baby vs The Primary Co-Operative ...
2021 Latest Caselaw 5925 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

          THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V

    THURSDAY, THE 18TH DAY OF FEBRUARY 2021 / 29TH MAGHA,1942

                        WP(C).No.2043 OF 2021(E)


PETITIONER/S:

                MANOJ T BABY,
                AGED 46 YEARS,
                S/O P.M. BABYKUTTY,
                THEKKEMURIYIL HOUSE,
                EZHUMATTOOR P.O., MALAPPALLY TALUK,
                PATHANAMTHITTA DISTRICT, PIN-689586.

                BY ADVS.
                SRI.JOSEPH GEORGE
                SRI.BIJO THOMAS GEORGE

RESPONDENT/S:

      1         THE PRIMARY CO-OPERATIVE AGRICULTURAL RURAL
                DEVELOPMENT BANK LTD. NO.PT-234,
                MALLAPPALLY, REPRESENTED BY ITS SECRETARY,
                PRIMARY CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT
                BANK LTD NO. PT-234, MALLAPPALLY WEST P.O,
                PIN-689585.

      2         THE SPECIAL SALE OFFICER,
                PRIMARY CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT
                BANK LTD NO. PT-234, MALLAPPALLY,
                PIN-689585.

                R1 BY ADV. SRI.VARUGHESE M EASO

                SRI K.P. HARISH, SENIOR GOVERNMENT PLEADER

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.2043 OF 2021(E)                2




                              JUDGMENT

The petitioner states that he along with two others availed multiple

credit facilities from the 1st respondent bank in the year 2014 on the

strength of a mortgage and also by executing several documents by way

of security. Though he was regular in his payment, due to acute

financial difficulties, he committed default. Proceedings were initiated by

the respondents for realizing the amount by attachment and sale of his

property. The petitioner contends that he approached the Bank and

requested for regularisation by paying a sum of Rs.3 lakhs to show his

bonafides. He contends that the period of loan is due to expire only in

the year 2024 and according to him, if 20 instalments is granted to repay

the overdue amount, he would be in a position to pay the same along

with the regular instalments and regularise the account. It is in the

afore circumstances that the petitioner has approached this Court

seeking directions.

2. When the matter came up on 27.01.2021, this Court had

directed the petitioner herein to pay a sum of Rs.2,00,000/- (Rupees Two

Lakhs only) towards defaulted arrears. Today, when the matter was

taken up, Sri. Joseph George, the learned counsel appearing for the

petitioner submitted that the amount as ordered has been remitted.

3. Sri. Varghese M. Easo, the learned counsel appearing for the

respondent bank submits that the total dues as on date is about Rs.30

Lakhs, out of which, an amount of Rs.14,57,466/- remains overdue. He

submits that the bank is interested only in getting the amount back and

is not interested in depriving the petitioner of his property. In response,

Sri.Joseph George, the learned counsel appearing for the petitioner

submits that COVID -19 pandemic as well as the floods of the year 2018

took a toll on the petitioner's finances and that is the reason why he was

forced to commit default in the year 2019.

4. Having considered the entire aspects and taking note of the fact

that the petitioner has remitted a total sum of Rs.5 lakhs in the recent

past, I am of the view that an opportunity can be granted to the

petitioner to clear off the overdue amount in instalments and seek

regularisation of the loan.

In the result, the following directions are issued.

a) The petitioner shall clear off the overdue amount of

Rs.14,57,466/- in 10 equal monthly instalments, first of which

shall be paid on 13.3.2021. The above payment shall be in

addition to the regular monthly instalments.

b) If the petitioner complies with the above direction

and clears the overdue amount along with regular instalments

without any default, the respondent shall consider regularising

the loan account for the balance amount.

c) If the petitioner commits two successive defaults, the

benefit granted to the petitioner by this order will stand

withdrawn and the respondent shall be entitled to surge ahead

with the proceedings to recover the amount by initiating

appropriate proceedings.

d) It is made clear that as the indulgence is granted in

exceptional circumstances, application for further extension of

time shall not be entertained.

This petition is disposed of.

Sd/-

RAJA VIJAYARAGHAVAN V

JUDGE NS

APPENDIX

PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE PHOTOCOPY OF SALE NOTICE DATED 15/01/2021 ISSUED BY THE 2ND RESPONDENT.

RESPONDENT'S/S EXHIBITS : NIL

/TRUE COPY/

P.A. TO JUDGE