Joseph K.J vs The Kerala State Co-Operative ...
2022 Latest Caselaw 4321 Ker

Citation : 2022 Latest Caselaw 4321 Ker
Judgement Date : 7 April, 2022

Kerala High Court

Joseph K.J vs The Kerala State Co-Operative ... on 7 April, 2022

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   THURSDAY, THE 7TH DAY OF APRIL 2022 / 17TH CHAITHRA, 1944
                      WP(C) NO. 12923 OF 2022
PETITIONER:

          JOSEPH K.J,
          AGED 62 YEARS, KARIKUNNEL, ERUMELY P.O,
          KOTTAYAM , PIN 686 509.

          BY ADVS.
          P.V.JEEVESH
          C.K.RADHAKRISHNAN (CHALIL)


RESPONDENTS:

    1     THE KERALA STATE CO-OPERATIVE BANK LTD.,
          ERUMELY BRANCH, ERUMELI P.O, KOTTAYAM DISTRICT,
          PIN CODE 686 509 THROUGH ITS SPECIAL SALES OFFICER.
    2     THE SPECIAL SALES OFFICER,
          THE KERALA STATE CO-OPERATIVE BANK LTD., THE KERALA
          STATE CO-OPERATIVE BANK LTD., ERUMELY BRANCH,
          ERUMELI P.O, KOTTAYAM, DISTRICT, PIN CODE 686 509.



          BY ADV.SRI.ATHUL SHAJI, SC



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.12923 of 2022
                                               2



                             BECHU KURIAN THOMAS, J
                           ..............................................
                              W.P.(C) No.12923 of 2022
                              .....................................
                         Dated this the 7th day of April, 2022

                                        JUDGMENT

Petitioner as borrower from the respondent-Bank, has 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, 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 petitioner

committed default in repayment and the overdue amount under

the housing loan is Rs.9,45,292/- while the outstanding amount

under the ordinary loan is Rs.66,171/-.The total amount due from

the petitioner is Rs.10,11,463/-. It was further submitted that

though proceedings for recovery have been initiated, as a matter

of indulgence, the respondent Bank is willing to accept repayment

of the overdue amount in limited instalments and regularise the

loan account.

4. I have heard Sri.P.V.Jeevesh., the learned counsel for the

petitioner as well as Sri.Athul Shaji, the learned Standing Counsel WP(C) NO.12923 of 2022

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 '12' 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 entire amount of Rs.10,11,463/- along

with bank charges and applicable interest from the petitioner and

to regularise the housing loan account of the petitioner on the

following conditions:

(i). The amount of Rs.10,11,463/- along with bank charges

and applicable interest shall be repaid in '12' equated

monthly instalments.

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

07.05.2022 and the remaining instalments shall be paid on

or before the 7th day of every succeeding month.