Prasannakumar P.G vs The Kerala State Co-Operative ...
2021 Latest Caselaw 20109 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

         THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

    FRIDAY, THE 24TH DAY OF SEPTEMBER 2021 / 2ND ASWINA, 1943

                       WP(C) NO. 7278 OF 2021

PETITIONER:


          PRASANNAKUMAR P.G.
          AGED 59 YEARS, S/O.GOPALAN,
          MUPPATHILCHIRA HOUSE,
          CHATHURTHYAKARI P.O., NEDUMUDI,
          ALAPPUZHA DISTRICT.
          BY ADVS.
          SRI.S.SHANAVAS KHAN
          SMT.S.INDU


RESPONDENTS:

    1     THE KERALA STATE CO-OPERATIVE BANK LTD.,
          (ERSTWHILE ALAPPUZHA DISTRICT CO-OPERATIVE BANK),
          NEDUMUDI BRANCH,
          ALAPPUZHA - 688 503
          REPRESENTED BY ITS BRANCH MANAGER.
    2     THE AUTHORISED OFFICER
          THE KERALA STATE CO-OPERATIVE BANK LTD.
          (ERSTWHILE ALAPPUZHA DISTRICT CO-OPERATIVE BANK),
          NEDUMUDI BRANCH,
          ALAPPUZHA - 688 503.
          BY ADV SHRI.THOMAS ABRAHAM


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.7278/21
                                   -:2:-


                    BECHU KURIAN THOMAS, J.
                    -----------------------------------------
                       W.P.(C) No.7278 of 2021
                    ----------------------------------------
               Dated this the 24th day of September, 2021

                               JUDGMENT

Petitioner is a borrower from the respondent bank. He has

committed default in repayment of the loan amount.

Consequently, proceedings have been initiated by the bank for

recovery of the amounts due from the petitioner after recalling

the loan.

2. Though petitioner has raised various challenges in the

writ petition, during the course of the hearing, petitioner has

confined the relief to an opportunity for repaying the overdue

amount in instalments and to obtain regularisation of the loan

account.

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

the petitioner committed default in repayment of the loan

amount and hence petitioner's account was classified as non-

performing. It was further submitted that thereafter proceedings W.P.(C) No.7278/21

for recovery of the amount were initiated and also that, even

though proceedings have been initiated for recovery of the

amounts due, as a matter of indulgence, the respondent bank is

willing to accept repayment of the overdue amount of

Rs.4,00,912/- in limited instalments. Apart from the above, it

was also submitted that if the petitioner is willing to repay the

overdue amount as directed by this court, the respondent bank

is willing to regularise the loan account.

4. I have heard Adv.S.Shanavas Khan, learned counsel

for the petitioner as well as Adv.Thomas Abraham, learned

Standing Counsel for the respondents.

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 petitioner can be

granted an opportunity to repay the overdue amount in

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 W.P.(C) No.7278/21

bank to accept repayment of the entire overdue amount of

Rs.4,00,912/- from the petitioner and regularise the loan

account of the petitioner on the following conditions:

(i) The overdue amount shall be repaid in twelve equated monthly instalments.

(ii) The first instalment shall be made on or before 29.10.2021.

(iii) Petitioner 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 petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE vps W.P.(C) No.7278/21

APPENDIX OF WP(C) 7278/2021

PETITIONER'S/S' EXHIBITS EXHIBIT P1 TRUE COPY OF THE RELEVANT PAGE OF THE PASS BOOK ISSUED BY THE FIRST RESPONDENT EVIDENCING THE PAYMENT OF AMOUNT.

EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 02/02/2021 ISSUED BY THE FIRST RESPONDENT AND ITS ENGLISH TRANSLATION.

EXHIBIT P3 TRUE COPY OF THE LEGAL NOTICE DATED 19/02/2021 ISSUED ON BEHALF OF FIRST RESPONDENT.