Kerala High Court
Sreenivasan P vs The Kottakkal Co-Operative Urban ... on 16 February, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
WEDNESDAY, THE 16TH DAY OF FEBRUARY 2022 / 27TH MAGHA, 1943
WP(C) NO. 5239 OF 2022
PETITIONER:
SREENIVASAN P.,
AGED 55 YEARS, S/O. AYYAPPAN KUTTY,
PULLATTUTHODI HOUSE,
CHEENAMPUTHOOR, KAVATHIKKALAM,
KOTTAKKAL P.O.,
MALAPPURAM DISTRICT 676 503.
BY ADVS.
SHERRY J. THOMAS
JOEMON ANTONY
RESPONDENTS:
1 THE KOTTAKKAL CO-OPERATIVE URBAN BANK LTD,
NO.1378, HEAD OFFICE, KOTTAPPADI,
KOTTAKKAL P.O.,
MALAPPURAM DISTRICT 676 503.
2 THE AUTHORISED OFFICER,
THE KOTTAKKAL CO OPERATIVE URBAN BANK LTD.,
NO. 1378, HEAD OFFICE, KOTTAPPADI,
KOTTAKKAL P.O.,
MALAPPURAM DISTRICT 676 503.
BY ADV DEVAPRASANTH.P.J.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 16.02.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C) No.5239/22 -:2:-
BECHU KURIAN THOMAS, J.
--------------------------------
W.P.(C) No.5239 of 2022
---------------------------------
Dated this the 16th day of February, 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 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 and the overdue amount is
Rs.8,16,993/-. 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 Adv.Sherry J.Thomas for the petitioner as well
as Sri.Devaprasanth P.J., the learned 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 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 overdue amount of Rs.8,16,993/-
along with bank charges from the petitioner and regularise the loan
account of the petitioner on the following conditions:
(i) The overdue amount of Rs.8,16,993/- shall be repaid in
twelve equated monthly instalments.
(ii) The first instalment shall be paid on or before
16.03.2022.
(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
APPENDIX OF WP(C) 5239/2022
PETITIONER EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE DEMAND NOTICE
ISSUED BY THE KOTTAKKAL CO-OPERATIVE
URBAN BANK, DATED 3.11.2021.
EXHIBIT P2 THE TRUE COPY OF THE CHELAN ISSUED BY
THE RESPONDENT BANK DATED 22.12.2021.
EXHIBIT P3 THE TRUE COPY OF THE POSSESSION NOTICE
DATED 8.2.2022 ISSUED BY THE IST
RESPONDENT BANK TO THE PETITIONER.
EXHIBIT P4 THE TRUE COPY OF THE REQUEST SUBMITTED
BY THE PETITIONER TO THE RESPONDENT BANK
DATED 14.2.2022.
