Thankamani vs The Kerala State Co Operative Bank ...
2022 Latest Caselaw 2403 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   WEDNESDAY, THE 2ND DAY OF MARCH 2022 / 11TH PHALGUNA, 1943
                       WP(C) NO. 6630 OF 2022
PETITIONERS:

    1     THANKAMANI
          AGED 40 YEARS
          WIFE OF ANANDAN T, MALAMKUNNU,
          T.T. ROAD, BEKAL P.O, KASARGOD ,
          KERALA, PIN - 671318
    2     ANANDAN TRIKKANNAD
          AGED 48 YEARS
          KUNHIKANNA P, MALAMKUNNU BEKAL,
          PALLIKKARA II, BEKAL, HOSDURG,
          KASARGOD, PIN - 671318
          BY ADV K.REEHA KHADER


RESPONDENT:

          THE AUTHORIZED OFFICER,
          THE KERALA STATE CO-OPERATIVE BANK LTD,
          PALAKUNNU EVENING BRANCH, ALBAYAN CENTRE, PALAKUNNU,
          BEKAL P.O, KASARGODE
          ERNAKULAM, PIN - 671318
          SRI.M.SASINDRAN, SC



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6630 OF 2022
                                         2



                      BECHU KURIAN THOMAS, J
                   ..............................................
                       W.P.(C) No.6630 of 2022
                       .....................................
                 Dated this the 2 nd day of March, 2022

                                     JUDGMENT

Petitioners as borrowers from the respondent bank

have 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, petitioners have

confined their relief to an opportunity for repaying

the overdue amount in installments and to obtain

regularisation of the loan account.

3. It was submitted on behalf of the respondent bank

that petitioners have committed default in repayment

and the overdue amount is Rs.11,52,959/-. It was

further submitted that though proceedings for

recovery have been initiated, as a matter of

indulgence, respondent bank is willing to accept WP(C) NO. 6630 OF 2022

repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Smt.Reeha Khader, learned counsel for

the petitioners as well as Sri.M.Sasindran, the

learned Standing Counsel for the 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 petitioners can be granted an

opportunity to repay the overdue amount in '15'

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 overdue

amount of Rs.11,52,959/- along with bank charges

from the petitioners and regularise the loan account

of the petitioners on the following conditions: WP(C) NO. 6630 OF 2022

(i). The overdue amount of Rs.11,52,959/- shall

be repaid in '15' equated monthly instalments.

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

before 29.03.2022.

(iii). Petitioners shall continue to pay the

regular EMI's along with the instalments

directed above.

(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 petitioners 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/02/03//2022 WP(C) NO. 6630 OF 2022

APPENDIX OF WP(C) 6630/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE 13(2) NOTICE ISSUED BY THE RESPONDENT DATED 23-02-2022

RESPONDENTS EXHIBITS : NIL

TRUE COPY