Joice Mathew vs The Kerala State Co-Operative ...
2022 Latest Caselaw 760 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE SATHISH NINAN
         MONDAY, THE 17TH DAY OF JANUARY 2022 / 27TH POUSHA, 1943
                                WP(C) NO. 87 OF 2022
PETITIONER:

              JOICE MATHEW
              AGED 45 YEARS
              CHEKKUMMOOTTIL HOUSE, KAVUNGUMPRAYAR P.O, PURAMATTOM,
              PATHANAMTHITTA DISTRICT 689 543

              BY ADV SANIL JOSE



RESPONDENTS:

     1        THE KERALA STATE CO-OPERATIVE BANK LTD.,
              PURAMATTOM BRANCH, VENNIKULAM P.O, PURAMATTOM, PATHANAMTHITTA
              DISTRICT 689 544 REPRESENTED BY ITS MANAGER

     2        THE BRANCH MANAGER
              THE KERALA STATE CO-OPERATIVE BANK LTD, PURAMATTOM BRANCH,
              VENNIKULAM P.O, PURAMATTOM, PATHANAMTHITTA DISTRICT 689 544

              BY ADV N.RAGHURAJ

              BY SRI.BIMAL K. NATH, SR. GOVT. PLEADER




     THIS     WRIT   PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
17.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                       SATHISH NINAN, J.
           = = = = = = = = = = = = = = = = = =
                  W.P.(C) No.87 of 2022
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         Dated this the 17th day of January, 2022

                       J U D G M E N T

The petitioner availed a credit facility from the

respondent Bank. Repayment of the facility was

defaulted. Thereupon the Bank issued Ext.P1 notice

proposing initiation of recovery proceedings. It is at

that stage that the petitioner has approached this Court

seeking regularisation of the loan account.

2. Heard the learned counsel for the petitioner and

the learned Standing Counsel for the Bank.

3. The learned Standing Counsel for the Bank

submits that, further term available for the facility

and that if there is bonafides on the part of the

petitioner, the Bank is not averse to regularise the

loan provided the interests of the Bank is sufficiently

safeguarded.

4. I am of the opinion that an opportunity for

regularisation could be granted on reasonable terms. W.P.(C) No.87 of 2022

5. Accordingly, the writ petition is disposed of

with the following directions:-

(i) The petitioner is permitted to have the loan

account regularised on payment of the entire over dues

with interests and costs, in twelve equal monthly

instalments commencing from 04.02.2022.

(ii) The subsequent instalments shall be payable on

or before the 5th day of the succeeding months.

(iii) The instalments as above shall be in addition

to the regular EMIs payable.

(iv) In case of default in payment of any single

instalment as above, the petitioner will lose the

benefit granted under this judgment.

Sd/-

SATHISH NINAN JUDGE

kns/-

//True Copy// P.S. to Judge APPENDIX OF WP(C) 87/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE PHOTOCOPY OF THE NOTICE DATED 18-10-2021 ISSUED BY THE 2ND RESPONDENT`

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