Kerala High Court
Ratnakaran P K vs Kerala State Co-Operative Bank ... on 4 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
FRIDAY, THE 4TH DAY OF MARCH 2022 / 13TH PHALGUNA, 1943
WP(C) NO. 7230 OF 2022
PETITIONER:
RATNAKARAN P K
AGED 50 YEARS
S/O. KUNJIRAMAN NAIR, PUTHUSSERY KUNIYIL HOUSE,
KADAVATHUR P.O, THALASSERY TALUK , KANNUR DISTRICT 670
673
BY ADV V.A.VINOD
RESPONDENT:
KERALA STATE CO-OPERATIVE BANK LTD.,
REPRESENTED BY ITS AUTHORISED OFFICER, REGIONAL OFFICE,
KANNUR 670 001
OTHER PRESENT:
M. SASINDRAN SC FOR THE BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
04.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 7230 OF 2022
-:2:-
BECHU KURIAN THOMAS, J.
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W.P.(C) No. 7230 of 2022
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Dated this the 4th day of March, 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 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.6,90,000/-. 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.
WP(C) NO. 7230 OF 2022
4. I have heard Sri.V.A.Vinod, learned counsel for the
petitioner 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 petitioner can be
granted an opportunity to repay the overdue amount in '13'
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.6,90,000/- along with bank charges from the petitioner and
regularise the loan account of the petitioner on the following
conditions:
(i) The overdue amount of Rs.6,90,000/- shall be
repaid in '13' monthly instalments, on condition
that an amount of Rs.1,50,000/- (Rupees one lakh
and fifty thousand only) shall be paid by the
petitioner on or before 30/03/2022.
WP(C) NO. 7230 OF 2022
(ii) If the said amount is paid as directed above, the
petitioner will be entitled to clear the balance
amount, after deducting the said amount of
Rs.1,50,000/-, in '12' equated monthly
instalments, commencing from 30/04/2022.
(iii) Petitioner 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 petitioner to repay the
entire amounts, all coercive proceedings
shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
AJM
WP(C) NO. 7230 OF 2022
APPENDIX OF WP(C) 7230/2022
PETITIONER'S EXHIBITS :
Exhibit P1 TRUE COPY OF THE NOTICE ISSUED UNDER
SECTION 13 (4) TAKING SYMBOLIC
POSSESSION OF THE PROPERTY DATED 28-
12-2020 WITH ENGLISH TRANSALATION.
Exhibit P2 TRUE COPY OF THE JUDGMENT IN W.P(C)
NO. 8278/2021 DATED 13-04-2021.
Exhibit P3 TRUE COPY OF THE NOTICE ISSUED BY THE
RESPONDENT DATED NIL.
RESPONDENT'S EXHIBITS : NIL
AJM //TRUE COPY// PA TO JUDGE
