Rajeev K vs Kilimanoor Co-Operative ...
2022 Latest Caselaw 6806 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR. JUSTICE T.R.RAVI
     TUESDAY, THE 14TH DAY OF JUNE 2022 / 24TH JYAISHTA, 1944
                       WP(C) NO. 11274 OF 2022
PETITIONER:

          RAJEEV K.
          AGED 55 YEARS
          LAL MANDIRAM, THUNDILKADA, KILIMANOOR P.O.,
          PAZHAYAKUNNUMEL, THIRUVANANTHAPURAM - 695 601.

          BY ADVS.
          S.K.ADHITHYAN
          GOKUL M.S
          KEERTHI S. JYOTHI



RESPONDENTS:

    1     KILIMANOOR CO-OPERATIVE AGRICULTURE AND RURAL
          DEVELOPMENT BANK LTD NO. T.316
          REPRESENTED BY ITS MANAGING DIRECTOR, KILIMANOOR P.O.,
          THIRUVANANTHAPURAM - 695 601.

    2     THE SPECIAL SALE OFFICER
          KILIMANOOR COOPERATIVE AGRICULTURAL AND RURAL
          DEVELOPMENT BANK LTD.NO.T 316, REPRESENTED BY ITS
          SECRETARY, KILIMANOOR P.O.,
          THIRUVANANTHAPURAM - 695 601.

          BY ADVS.
          ANJANA KANNATH
          SRI.K.SIJU, SC, KILIMANOOR GRAMA PANCHAYAT



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 11274 OF 2022

                                   2

                             JUDGMENT

The petitioner has approached this Court praying for

permission to pay the amounts due to the respondent Bank in

easy monthly instalments.

2. A statement has been filed on behalf of respondents

1 and 2. It is stated that the petitioner has availed two loans,

one for Rs.15,00,000/-, which is payable in 180 monthly

instalments from 30.08.2014 and another for Rs.8,00,000/-

which is repayable in 120 monthly instalments from

16.06.2017. It is submitted that the amounts have periods up

to 2029 and 2027 respectively. It is further stated that a sum

of Rs.8,70,000/- is overdue in the first loan account and a sum

of Rs. 5,50,000/- is overdue in the 2nd loan account. The total

overdue amount comes to Rs.14,20,000/-.

Considering the difficulty expressed by the petitioner's

counsel for making the payment of the overdue amount

immediately and the fact that both the loans have further

duration of more than five years, the writ petition is disposed

of permitting the petitioner to pay the amounts overdue in WP(C) NO. 11274 OF 2022

equal monthly instalments of Rs.1,00,000/- each, the 1 st

instalment falling due on or before 15.07.2022 and the

subsequent instalments falling due on or before the 15 th day of

the succeeding months. The petitioner shall also pay the

regular monthly instalments towards the loan accounts along

with the aforesaid amount of Rs.1,00,000/- each. The bank

may appropriate the amount of Rs.1,00,000/- towards the two

loan accounts based on the ratio of the outstanding amounts.

If the petitioner makes continuous defaults of two instalments,

the respondents are free to initiate coercive steps against the

petitioner. Coercive steps for recovery shall be kept in

abeyance in order to facilitate payment in instalments.

Sd/-

T.R.RAVI

JUDGE mpm WP(C) NO. 11274 OF 2022

APPENDIX OF WP(C) 11274/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE SEND BY THE 2ND RESPONDENT DATED 24/01/2022 IN EP 12/21 & EP 13/21.

Exhibit P2 TRUE COPY OF THE SALE NOTICE DATED 15/12/2021 ISSUED BY THE 2ND RESPONDENT.