Sajitha P.J vs Kodungallur Town Co-Operative ...
2022 Latest Caselaw 2160 Ker

               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. 6296 OF 2022
PETITIONER:

          SAJITHA P.J
          W/O. SAJEENDRAN E.K.,
          AGED 42 YEARS,
          EADATHI PARAMBIL, WEST PUTHIYA POST,
          PULLUT, PIN-680663

          BY ADV MANSOOR ALI


RESPONDENTS:

     1
          KODUNGALLUR TOWN CO-OPERATIVE BANK,
          REPRESENTED BY ITS MANAGER, PULLUT BRANCH, PULLUT,
          KODUNGALLUR, THRISSUR. PIN-680663

     2
          THER AUTHORIZED OFFICER, KODUNAGLLUR TOWN CO-OPERATIVE
          BANK, HEAD OFFICE, P.B. NO.13, SOUTH NADA, KODUNGALLUR,
          THRISSUR, KERALA - 680664


          BY ADV.V.M.KRISHNAKUMAR(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. 6296 OF 2022

                                 2


              BECHU KURIAN THOMAS, J.
           ===========================
                W.P.(C) No.6296 of 2022
           ============================
             Dated this the 24th 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

installments and to obtain regularization 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.4,71,420/-. 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 WP(C) NO. 6296 OF 2022

loan account.

4. I have heard Shri.Mansoor Ali, learned counsel for the

petitioner as well as Shri.V.M.Krishnakumar, 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 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.4,71,420/- along with bank charges from the petitioner and

regularize the loan account of the petitioner on the following

conditions:

WP(C) NO. 6296 OF 2022

(a) The overdue amount of Rs.4,71,420/- shall be repaid in twelve equated monthly installments.

(b) The first installment shall be paid on or before 24.03.2022.

(c) Petitioner 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. 6296 OF 2022

APPENDIX OF WP(C)6296/2022

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE RELEVANT PAGES OF PASSBOOK BEARING NUMBER 65445.

Exhibit P2 TRUE COPY OF THE NOTICE DATED 03.11.2021.