Y.Nelson vs The Neyyattinkara Co-Operative ...
2021 Latest Caselaw 18967 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
      THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
 FRIDAY, THE 10TH DAY OF SEPTEMBER 2021 / 19TH BHADRA, 1943
                     WP(C) NO. 18547 OF 2021
PETITIONER/S:

            Y.NELSON.,
            AGED 53 YEARS
            S/O. YESUDAS, KARIKKATHIKUZHI MEKKEKARA PUTHEN
            VEEDU, KAKKANAM, MARAYAMUTTOM P.O. NEYYATTINKARA.
            BY ADVS.
            G.SUDHEER
            R.HARIKRISHNAN (H-308)


RESPONDENT/S:

            THE NEYYATTINKARA CO-OPERATIVE URBAN BANK LTD.,
            NO. 931, NEYYATTINKARA P.O., 695 123, REPRESENTED
            BY ITS AUTHORIZED OFFICER.

     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION    ON   10.09.2021,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) NO. 18547 OF 2021
                                 2




              BECHU KURIAN THOMAS, J
             -----------------------------------------
                W.P.(C).No. 18547 of 2021
     --------------------------------------------------------
     Dated this the 10th day of September, 2021


                           JUDGMENT

The petitioner had filed availed a term loan from the

respondent Bank. In the process of repayment, he committed

default and as on date an amount of Rs.3,19,257/- (Rupees Three

Lakhs Nineteen Thousand Two Hundred and Fifty Seven only)

remains overdue. It is submitted that due to the avocation of the

petitioner, he is not in a financial position to repay the overdue

amount and unless the loan is regularised, the petitioner would

be subjected to irreparable hardships.

2. The learned counsel for the respondent, upon

instructions, submits that the Bank is also undergoing great

hardships due to the aggravated amount of NPA's and that

inspite of difficulties faced by the Bank, they are willing to

provide a limited instalment facility to repay the overdue

amount.

WP(C) NO. 18547 OF 2021

3. Taking note of the aforesaid submissions, I deem it fit

to grant an opportunity to the petitioner to repay the entire

overdue amount in 6 equal monthly instalments along with the

regular EMIs. To show his bonafides, petitioner shall tender the

first instalment on or before 20.09.2021. If the aforementioned

overdue amount is repaid in 6 equated monthly instalments

along with the regular EMIs, as directed above, the respondent

Bank shall regularise the loan account.

4. Needless to say, in the event of default of anyone

instalment as directed above, the Bank will be free to initiate

appropriate proceedings in accordance with law. It is also

directed that the proceedings for dispossession of the property

of the petitioner shall be kept in abeyance for a period of six

months to enable the petitioner to repay the amount as directed

above.

This writ petition is thus disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE Dxy WP(C) NO. 18547 OF 2021

APPENDIX OF WP(C) NO. 18547 OF 2021

PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE RELEVANT PAGES OF LOAN PASS BOOK OF THE PETITIONER.

EXHIBIT P2 TRUE COPY OF DEMAND NOTICE NO.M.360/20-

21 DATED 29.09.2020 ISSUED BY THE RESPONDENT BANK.

EXHIBIT P3 TRUE COPY OF THE ORDER IN M.C.NO.4/2021 DATED 23.02.2021 ISSUED BY THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM.

EXHIBIT P4 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER DATED 31.08.2021.