Ambily.D vs The Kerala State Co-Operative ...
2022 Latest Caselaw 4293 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
            THE HONOURABLE MR. JUSTICE SATHISH NINAN
 THURSDAY, THE 7TH DAY OF APRIL 2022 / 17TH CHAITHRA, 1944
                      WP(C) NO. 9647 OF 2022
PETITIONER:

            AMBILY.D,AGED 57 YEARS,KARUKAYIL HOUSE,
            VADAKKADATHUKAVU P.O.ADOOR, PATHANAMTHITTA
            DISTRICT-691 551.

            BY ADVS.
            L.RAM MOHAN
            M.AUBREY ABRAHAM ISAAC



RESPONDENTS:

    THE KERALA STATE CO-OPERATIVE BANK LTD 4039,,
    KILIVAYAL BRANCH ADOOR, PATHANAMTHITTA, PIN-691 551,
    REPRESENTED BY ITS AUTHORISED OFFICER

            BY ADV N.RAGHURAJ




     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   07.04.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P(C) NO.9647 of 2022
                              2


                          JUDGMENT

Repayment of the credit facility availed by the

petitioner from the respondent Bank was defaulted.

Consequently the Bank initiated recovery steps. Ext

P1 is the notice in the said regard. Petitioner seeks

for regularisation of the loan.

2. Heard the learned counsel for the petitioner

and the learned standing counsel for the Bank.

3. Considering the financial constraints pointed

out by the petitioner, the fact that further term is

available for the credit facility, and also the

quantum of amount involved, I am of the opinion that

a reasonable facility can be afforded to have the

loan account regularised.

Accordingly, the writ petition is disposed of

with the following directions:

1) The loan account in question will

stand regularised on the Petitioner

paying the entire overdue amounts with

interest and costs, in ten equal monthly W.P(C) NO.9647 of 2022

instalments commencing from 05.05.2022.

2) The subsequent instalments shall be

payable on or before the 20th day of the

succeeding months.

3) The instalments as above shall be in

addition to the regular EMIs payable in

the loan accounts.

4) In case of default in payment of a

single instalment, the petitioner will

lose the benefit granted under this

judgment and further proceedings for

recovery can go on.

Sd/-

SATHISH NINAN, JUDGE vdv W.P(C) NO.9647 of 2022

APPENDIX OF WP(C) 9647/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE DATED 5.10.21