Najeeb K.I vs Kerala State Co-Operative Bank ...
2022 Latest Caselaw 1910 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    FRIDAY, THE 18TH DAY OF FEBRUARY 2022 / 29TH MAGHA, 1943
                    WP(C) NO. 5481 OF 2022
PETITIONERS:

    1     NAJEEB K.I., AGED 49 YEARS
          S/O. K.S IBRAHIM, KADAVUKARAYIL HOUSE,
          EANTHAYAR P.O., KOTTAYAM DISTRICT
    2     FASNA NAJEEB
          AGED 40 YEARS
          W/O. NAJEEB, KADAVUKARAYIL HOUSE,
          EANTHAYAR P.O., KOTTAYAM DISTRICT
          BY ADVS.
          V.K.PEERMOHAMED KHAN
          C.J.CHACKO


RESPONDENT :

          KERALA STATE CO-OPERATIVE BANK LTD.,
          REPRESENTED BY ITS AUTHORIZED OFFICER,
          REGIONAL OFFICE, KOTTAYAM-686 001
          ADV.ATHUL SHAJI, SC



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 5481 OF 2022
                                          2



                     BECHU KURIAN THOMAS, J
                   ..............................................
                       W.P.(C) No.5481 of 2022
                      .....................................
               Dated this the 18 th day of February, 2022

                                   JUDGMENT

Petitioners are husband and wife, who had availed separate loan

facilities from the respondent-Bank, and 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, petitioners have confined their

relief to an opportunity for repaying the outstanding amount in

instalments.

3. It was submitted on behalf of the respondent-Bank that

petitioners committed default in repayment and the outstanding

amount under the two loan accounts as on 10.12.2021 is

Rs.54,98,539/-. 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 outstanding

amount in limited instalments.

4. I have heard Sri.Peer Mohamed Khan, the learned counsel for the

petitioners as well as Sri.Athul Shaji, the learned Standing Counsel WP(C) NO. 5481 OF 2022

for respondent.

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 petitioners can be granted an

opportunity to repay the outstanding amount in '20' instalments.

6. Accordingly, there will be a direction to the respondent-Bank to

accept repayment of the entire outstanding amount of

Rs.54,98,539/- along with bank charges from the petitioners on

the following conditions:

(i). The outstanding amount of Rs.54,98,539 /- shall be

repaid in '20' equated monthly instalments.

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

18.03.2022.

(iii). In the event of default of any one instalment, the

respondent-Bank shall be entitled to proceed in

accordance with law.

(iv) After payment of the first instalment, petitioners

will be at liberty to approach the respondent-Bank with

a proposal for One Time Settlement, and if such a

proposal is submitted, the respondent-Bank shall consider

the same with all earnestness in a time bound manner.

(v) In order to enable the petitioners to repay the entire WP(C) NO. 5481 OF 2022

amounts, all coercive proceedings against the petitioners

shall be kept in abeyance.

The writ petition is disposed of.

Sd/-

BECHU KURIAN THOMAS JUDGE AMV/18/02//2022 WP(C) NO. 5481 OF 2022

APPENDIX

PETITIONERS EXHIBITS :

EXT.P1 COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT BANK TO THE 1ST PETITIONER.

EXT.P2 COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT BANK TO THE 2ND PETITIONER.

EXT.P3 COPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK TO THE 1ST PETITIONER TO INITIATE RR PROCEEDINGS.

RESPONDENTS EXHIBITS : NILAMBUR

TRUE COPY