Soman T.R vs The Kerala State Co-Operative ...
2022 Latest Caselaw 7222 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
        THURSDAY, THE 23RD DAY OF JUNE 2022 / 2ND ASHADHA, 1944
                       WP(C) NO. 20401 OF 2022
PETITIONER:

            SOMAN T.R
            AGED 65 YEARS
            S/O. RAGHAVAN, THAKARAPARAMBIL HOUSE, CHAKKITTADUKKAM,
            PADIMARUTHU, PIN-671531, KASARGOD DISTRICT.

            BY ADV JOSE J.MATHAIKAL


RESPONDENTS:

    1       THE KERALA STATE CO-OPERATIVE BANK LTD.
            (FORMERLY KASARGOD DISTRICT CO-OPERATIVE BANK LTD.),
            HEAD OFFICE, P.B.NO.48, NAYAK'S ROAD, KASARGOD, KERALA,
            REPRESENTED BY ITS SECRETARY.

    2       THE AUTHORISED OFFICER,
            THE KERALA STATE CO-OPERATIVE BANK LTD., (FORMERLY
            KASARGOD DISTRICT CO-OPERATIVE BANK LTD.), HEAD OFFICE,
            P.B.NO.48, NAYAK'S ROAD, KASARGOD, KERALA.

            SRI. M . SASINDRAN (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.20401/2022                      -2-

                                  JUDGMENT

The petitioner has availed three loans namely one cash credit facility and two

term loans from the 1st respondent. The total outstanding amount in respect of the

cash credit facility is stated to be Rs.18,85,023/-. The total outstanding amount in

respect of the two term loan accounts is stated to be Rs.21,82,228/-.

2. During the course of hearing, the petitioner has confined the relief to

an opportunity for repaying the overdue amount in instalments and to obtain

regularisation of all the loan accounts.

3. It was submitted on behalf of the respondent bank that the total over

due amount in respect of three loans come to Rs.40,67,251/-. 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 outstanding

amount in limited instalments.

4. I have heard the learned counsel for the petitioner as well as the

learned Standing 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 outstanding amount

in ten (10) instalments.

6. Accordingly, there will be a direction to the respondent bank to accept

repayment of the entire outstanding amount of Rs.40,67,251/- along with bank

charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.40,67,251/- in respect of all the three loans together with any accrued interest/costs shall be repaid in ten (10) equated monthly instalments.

(ii) The first instalment shall be paid on or before 15-07-2022 and subsequent instalments shall be paid on or before 15 th of every succeeding month.

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(iv) 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/-

GOPINATH P.

JUDGE AMG

APPENDIX OF WP(C) 20401/2022

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF STATEMENT OF ACCOUNTS WITH RESPECT TO FIRST LOAN.

Exhibit P2 TRUE COPY OF STATEMENT OF ACCOUNTS WITH RESPECT TO 2ND LOAN.

Exhibit P3 TRUE COPY OF STATEMENT OF ACCOUNTS WITH RESPECT TO 3RD LOAN.

Exhibit P4 TRUE COPY OF NOTICE DATED 31.12.2018 ISSUED BY THE SECOND RESPONDENT.

Exhibit P5 TRUE COPY OF ORDER DATED 28.2.2020 IN CMP NO.465/2020 OF THE CHIEF JUDICIAL MAGISTRATE, KASARGOD.