Kerala High Court
Sivankutty K.K vs The Trivandrum Co-Operative ... on 24 February, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 24TH DAY OF FEBRUARY 2022 / 5TH PHALGUNA, 1943
WP(C) NO. 6309 OF 2022
PETITIONERS:
1 SIVANKUTTY K.K.
AGED 48 YEARS, S/O. K.K. KRISHNAPILLA, SAKTHI BHAVAN,
T.C. NO.7/1606, TKRA-120, EYYAMVILAKOM, THIRUMALA P.O.,
THIRUVANANTHAPURAM-695006
2 SANDHYA V,
AGED 43 YEARS, W/O. SIVANKUTTY K.K., SAKTHI BHAVAN,
T.C. NO.7/1606, TKRA-120, EYYAMVILAKOM, THIRUMALA P.O.,
THIRUVANANTHAPURAM-695006
BY ADVS.
K.L.LAKSHMI RANI
M.H.ASIF ALI
RESPONDENTS:
1 THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.
REPRESENTED BY ITS AUTHORISED OFFICER,
P.B. NO.115, MG ROAD, THIRUVANANTHAPURAM-695001
2 THE AUTHORISED OFFICER,
THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD.
P.B. NO.115, MG ROAD, THIRUVANANTHAPURAM-695001
3 THE MANAGER,
THE TRIVANDRUM CO-OPERATIVE URBAN BANK LTD. NO.1959,
VATTIYOORKAVU BRANCH, THIRUVANANTHAPURAM-695013
BY ADV.NISHA GEORGE (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 6309 OF 2022
2
BECHU KURIAN THOMAS, J.
===========================
W.P.(C) No.6309 of 2022
============================
Dated this the 24th day of February, 2022
JUDGMENT
Petitioners as borrower from the respondent bank, have
committed default in repayment. Consequently, proceedings have
been initiated by the bank for recovery of the amounts due.
2. During the course of hearing, petitioners have confined the
relief to an opportunity for repaying the overdue amount in
installments and to obtain regularization of the loan account.
3. It was submitted on behalf of the respondent bank that the
petitioners committed default in repayment and the overdue
amount is Rs.7,70,699/-. 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 installments and regularize the loan
WP(C) NO. 6309 OF 2022
account.
4. I have heard Shri.K.L.Lakshmi Rani, learned counsel for
the petitioners as well as Smt.Nisha George, 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 petitioners can be granted
an opportunity to repay the overdue amount in twelve installments
and thereafter, if the amount so directed is repaid within the time
as directed above, to have the loan account regularized.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
Rs.7,70,699/- along with bank charges from the petitioners and
regularize the loan account of the petitioners on the following
conditions:
(a) The overdue amount of Rs.7,70,699/- shall
WP(C) NO. 6309 OF 2022
be repaid in twelve equated monthly
installments.
(b) The first installment shall be paid on or
before 24.03.2022.
(c) Petitioners shall continue to pay the regular
EMI's along with the installments directed above.
(d) In the event of default of any one
installment, the respondent bank shall be
entitled to proceed in accordance with law.
(e) 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
ssa/
WP(C) NO. 6309 OF 2022
APPENDIX OF WP(C) 6309/2022
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE POSSESSION NOTICE DATED
18.09.2021 ISSUED BY THE 2ND RESPONDENT
UNDER RULE 8(1) OF THE SECURITY INTEREST
(ENFORCEMENT)RULES, 2002.
Exhibit P2 A TRUE COPY OF THE NOTICE DATED 07.02.2022
ISSUED BY THE ADVOCATE COMMISSIONER.
Exhibit P3 A TRUE COPY OF THE REPRESENTATION DATED
21.02.2022 PREFERRED BY THE PETITIONER
BEFORE THE RESPONDENT BANK.
