Jithesh Chandran vs Kerala State Co-Operative Bank ...
2022 Latest Caselaw 670 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    FRIDAY, THE 14TH DAY OF JANUARY 2022 / 24TH POUSHA, 1943
                       WP(C) NO. 1272 OF 2022
PETITIONER:

          JITHESH CHANDRAN, AGED 42 YEARS
          S/O.CHANRAN P.P., PALAYATH (H),
          PANNIYANNUR (PO), KANNUR (DT.), PIN - 670 672.
          BY ADVS.
          CIBI THOMAS
          G.PRATHAP CHANDRA


RESPONDENT:

          KERALA STATE CO-OPERATIVE BANK LTD.(FORMERLY KNOWN
          AS KANNUR DISTRICT CO-OPERATIVE BANK LTD.]
          KANNUR REGIONAL OFFICE, PB NO.35, KANNUR - 670 001.
          REPRESENTED BY ITS AUTHORIZED OFFICER.
          ADV.M.SASINDRAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.1272 OF 2022
                                            2



                          BECHU KURIAN THOMAS, J
                          =======================
                            W.P.(C) No.1272 of 2022
                            -------------------------------
                        Dated this the 14th day of January, 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 the

petitioner committed default in repayment and the overdue

amount is Rs.8,45,717/-. 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.Cibi Thomas, the learned counsel for the WP(C) NO.1272 OF 2022

petitioner as well as Sri.M.Sasindran, the learned Standing

Counsel 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 petitioner can be

granted an opportunity to repay the overdue amount in

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.8,45,717/- along with bank charges from the petitioner

and to regularise the loan account of the petitioner on the

following conditions:

(i). The overdue amount of Rs.8,45,717/- shall be

repaid in '15' equated monthly instalments.

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

15.02.2022.

(iii). Petitioner shall continue to pay the regular EMI's

along with the instalments directed above.

WP(C) NO.1272 OF 2022

(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.

Sd/-

BECHU KURIAN THOMAS, JUDGE AMV/14/01/2022 WP(C) NO.1272 OF 2022

APPENDIX OF WP(C) 1272/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE UNDER SEC.

13(2) OF THE ACT ON 19/11/2020.

RESPONDENTS EXHIBITS NIL

TRUE COPY