Padmakumari D vs Palode Co-Operative ...
2021 Latest Caselaw 12950 Ker

  WP(C).4170/21                   1

        IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
              THE HONOURABLE MR.JUSTICE V.G.ARUN
TUESDAY, THE 15TH DAY OF JUNE 2021 / 25TH JYAISHTA, 1943
                    WP(C) NO. 4170 OF 2021
PETITIONER/S:

            PADMAKUMARI D.,
            AGED 61 YEARS
            D/O.DEVAKI AMMA, POYKKAVILAPUTHEN VEEDU,
            VALIYAKALUNGU, PARANDODE P.O.,
            THIRUVANANTHAPURAM-695542.

           BY ADV J.G.SYAMNATH



RESPONDENT/S:

           PALODE CO-OPERATIVE AGRICULTURAL AND RURAL
           DEVELOPMENT BANK
           PALODE, PACHA P.O., THIRUVANANTHAPURAM-695562,
           REPRESENTED BY ITS AUTHORIZED OFFICER.

         BY ADVS.
         SRI.G.P.SHINOD
         SRI.GOVIND PADMANAABHAN
         SHRI.AJIT G ANJARLEKAR



    THIS     WRIT   PETITION    (CIVIL)   HAVING   COME    UP    FOR
ADMISSION    ON   15.06.2021,   THE   COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
                           V.G.ARUN, J.
           -----------------------------------------------
                  W.P(C).No. 4170 of 2021
           -----------------------------------------------
          Dated this the 15th day of June, 2021

                           JUDGMENT

The petitioner availed three loans from the respondent

Bank on 26.2.2016. The repayment to be effected in monthly

instalments was defaulted. Thereupon, the petitioner was

issued with Exhibits P1 and P2 notices, proposing to sell the

mortgaged property. The writ petition is filed seeking a

direction to the respondent Bank to permit remittance of the

overdue amount along with the regular monthly instalments.

By order dated 26.3.2021, this Court stayed the recovery

proceedings, subject to the petitioner depositing an amount

of Rs.1,00,000/- on or before 18.3.2021. The said direction

was complied with and the petitioner was directed to deposit

a further sum of Rs.1,00,000/- on or before 1.6.2021.

2. Learned counsel for the respondent Bank fairly submitted

that the loan accounts will be regularised, if the petitioner

pays off the entire overdue amount of Rs.4,27,700/- in 12

equal monthly instalments along with the regular EMI. The

suggestion is accepted by the learned counsel for the

petitioner.

Accordingly, the writ petition is disposed of permitting

the petitioner to pay off the overdue amount of Rs.4,27,700/-

in 12 equal monthly instalments. If the petitioner defaults in

paying any one of the instalments, either towards the

overdue amount or the regular EMI, the benefit granted

under this judgment will stand withdrawn. If the direction is

complied with, the respondent shall regularise the loan

accounts. Pending such payment, recovery proceedings

pursuant to Exhibits P1 and P2 shall be kept in abeyance.

Sd/-

V.G.ARUN, JUDGE

vgs APPENDIX OF WP(C) 4170/2021

PETITIONER'S EXHIBITS

EXHIBIT P1 A TRUE COPY OF THE NOTICE ISSUED FROM THE BANK DATED 30.12.2020 (ENGLISH TRANSLATION PRODUCED).

EXHIBIT P2 A TRUE COPY OF THE NOTICE ISSUED FROM THE BANK DATED 03.02.2021 (ENGLISH TRANSLATION PRODUCED).