Seema vs The Vaikom Urban Co-Operative ...
2021 Latest Caselaw 20934 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                        PRESENT
                  THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
       WEDNESDAY, THE 6TH DAY OF OCTOBER 2021 / 14TH ASWINA, 1943
                              WP(C) NO. 20636 OF 2021
PETITIONERS:

       1          SEEMA
                  AGED 33 YEARS
                  W/O REJU KUMAR, MURIYODITHARA,
                  UDAYANAPURAM.P.O, PIN-686143,
                  NOW RESIDING AT PANDARATHARAYIL HOUSE, AKKARAPADOM.P.O,
                  PIN-686143.

       2          BABU.K.N,
                  AGED 49 YEARS
                  S/O.NAREBNDRAN "ANNESH BHAVAN', UDAYANAPURAM.P.O,
                  NANADOM,PIN-686143.

                  BY ADV S.SUDHISH KUMAR



RESPONDENTS:

       1          THE VAIKOM URBAN CO-OPERATIVE BANK LTD.
                  H.O.VILAKOM, VAIKOM.P.O, P.B.NO.215612, VAIKOM, PIN-
                  686143.

       2          AUTHORISED OFFICER,
                  THE VAIKOM URBAN CO-OPERATIVE BANK LTD-1193,
                  H.O.VAIKOM, VAIKOM.P.O, P.B.NO.215612, VIAKOM, PIN-
                  686143.



                  BY SRI.JULIAN XAVIER,SC




THIS       WRIT    PETITION   (CIVIL)   HAVING    COME   UP   FOR   ADMISSION   ON
06.10.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 20636 OF 2021

                                              2




                   BECHU KURIAN THOMAS,                   J

                ===========================
                    W.P.(C) No.20636 of 2021
                    ---------------------------------
             Dated this the 6 th day of October, 2021

                                    JUDGMENT

Petitioners as borrowers from the respondent bank have

committed default in repayment. Consequently,

proceedings have been initiated by the bank for recovery

of the amounts due.

2. During the course of the hearing, petitioners have

confined their relief to an opportunity for repaying the

overdue amount in installments and to obtain

regularisation of the loan account.

3. It was submitted on behalf of the respondent bank that

petitioners have committed default in repayment and the

overdue amount is Rs.8,60,000/-. It was further

submitted that though proceedings for recovery have

been initiated, as a matter of indulgence, respondent

bank is willing to accept repayment of the overdue WP(C) NO. 20636 OF 2021

amount in limited instalments and regularise the loan

account.

4. I have heard Adv.S.Sudheesh Kumar, learned counsel for

the petitioners as well as Adv.Jawahar Jose, the learned

Standing Counsel for the respondent.

5. Having regard to the circumstances of the case and the

situation now prevailing, apart from the submissions

made as recorded above, I am of the view that the

petitioners can be granted an opportunity to repay the

overdue amount in 'ten' instalments and, thereafter, if

the amount so directed is repaid within the time as

directed above, to have the loan account regularised.

6. Accordingly, there will be a direction to the respondent

bank to accept repayment of the overdue amount of

Rs.8,60,000/- along with bank charges from the

petitioners and regularise the loan account of the

petitioners on the following conditions:

(i). The overdue amount shall be repaid in WP(C) NO. 20636 OF 2021

'ten' equated monthly instalments.

(ii). The first instalment shall be made on or

before 30.10.2021.

(iii). Petitioners shall continue to pay the

regular EMI's along with the instalments

directed above.

(iv). In the event of default of any one

instalment, the respondent bank shall be

entitled to proceed in accordance with law.

(v) In order to enable the petitioners to repay

the entire amounts, all coercive steps shall be

kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE AMV/06/10//2021 WP(C) NO. 20636 OF 2021

APPENDIX OF WP(C) 20636/2021

PETITIONERS' EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE UNDATED NOTICE ISSUED BY ADVOCATE COMMISSIONER MRS.JEEY.M.VARGHESE.

RESPONDENTS' EXHIBITS: NIL

//TRUE COPY//

PA TO JUDGE WP(C) NO. 20636 OF 2021