Balan M vs Kerala State Co-Operative Bank ...
2022 Latest Caselaw 2953 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    WEDNESDAY, THE 16TH DAY OF MARCH 2022 / 25TH PHALGUNA, 1943
                         WP(C) NO. 8699 OF 2022
PETITIONER :

          BALAN M.,
          AGED 64 YEARS,
          S/O. ARUMUGHAN M.,
          GREESHMAM HOUSE, THIRUTHIYAD,
          PUTHIYARA POST, KOZHIKODE DISTRICT-673004.

          BY ADV JESWIN P.VARGHESE


RESPONDENTS :

    1     KERALA STATE CO-OPERATIVE BANK LTD.,
          HEAD OFFICE, P.B. NO. 6515, COBANK TOWERS,
          PALAYAM (POST), THIRUVANANTHAPURAM-33,
          REPRESENTED BY ITS MANAGING DIRECTOR.

    2     THE AUTHORISED OFFICER,
          KERALA STATE CO-OPERATIVE BANK LIMITED,
          (FORMERLY KOZHIKODE DISTRICT CO-OPERATIVE BANK
          LIMITED), RECOVERY SECTION, P.B. NO.503,
          KALLAI ROAD, CHALAPPURAM POST, KOZHIKODE-673002.

    3     THE BRANCH MANAGER,
          KERALA STATE CO-OPERATIVE BANK LIMITED,
          (FORMERLY KOZHIKODE DISTRICT CO-OPERATIVE BANK
          LIMITED), PUTHIYARA BRANCH, PUTHIYARA POST,
          KOZHIKODE-673004.

    4     THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES
          (GENERAL), PUTHIYARA BRANCH, PUTHIYARA POST,
          KOZHIKODE-673002.

    5     THE ASSISTANT REGISTRAR/SPECIAL SALE OFFICER,
          KERALA STATE CO-OPERATIVE BANK LIMITED,
          REGIONAL OFFICE, KALLAI ROAD, KALLAI (POST),
          KOZHIKODE-673003.

          BY P.C.SASIDHARAN, SC FOR RESPONDENTS


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 8699 OF 2022
                                          2


                      BECHU KURIAN THOMAS, J.
                    =-=-=-=-=-=-=-=-=-=-=-=-=-=
                       W.P.(C) No.8699 of 2022
                    =-=-=-=-=-=-=-=-=-=-=-=-=-=
                 Dated this the 16th 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 outstanding amount in instalments.

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

petitioner committed default in repayment and the total outstanding amount is

Rs.31,53,408/-. 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 Sri.Jeswin P.Varghese, the learned counsel for

the petitioner as well as Sri.P.C.Sasidharan, 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 '15' instalments. WP(C) NO. 8699 OF 2022

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

accept repayment of the entire outstanding amount of Rs.31,53,408/- along

with bank charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.31,53,408/- shall be repaid in '15' equated monthly instalments.

(ii) The first instalment shall be paid on or before 16.04.2022.

(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/-

BECHU KURIAN THOMAS, JUDGE

RKM WP(C) NO. 8699 OF 2022

APPENDIX OF WP(C) 8699/2022

PETITIONER'S EXHIBITS :

Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED BY 2ND RESPONDENT UNDER SECTION 13(4) OF THE SARFAESI ACT DATED 23/11/2021.

Exhibit P2 A TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE DISTRICT COLLECTOR, KOZHIKODE DATED 29/11/2021.

Exhibit P3 A TRUE COPY OF THE LETTER ISSUED BY THE 4TH RESPONDENT TO THE 5TH RESPONDENT DATED 01/12/2021.

Exhibit P4 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSION APPOINTED BY THE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE IN CMP NO.16/2022 DATED 03/03/2022.