Babu.T.O vs The Chalakudy Town Co-Operative ...
2022 Latest Caselaw 3063 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE SATHISH NINAN
         THURSDAY, THE 17TH DAY OF MARCH 2022 / 26TH PHALGUNA, 1943
                              WP(C) NO. 8899 OF 2022
PETITIONER:

              BABU.T.O.
              AGED 41 YEARS
              S/O.OUSEPH, THEKKAN HOUSE, PALAMURI DESAM, MELOOR VILLAGE,
              CHALAKKUDY TALUK, THRISSUR DISTRICT, PIN - 680 307.

              BY ADV K.SUNILKUMAR



RESPONDENTS:

     1        THE CHALAKUDY TOWN CO-OPERATIVE BANK LTD. NO. R/928
              TOWN BANK TOWER, MAIN ROAD, CHALAKKUDY P.O., PIN - 680 307,
              THRISSUR DISTRICT REPRESENTED BY ITS SECRETARY.

     2        THE SECRETARY
              THE CHALAKKUDY TOWN CO-OPERATIVE BANK LTD.NO.R/928, TOWN
              BANK TOWER, MAIN ROAD, CHALAKKUDY P.O., THRISSUR DISTRICT,
              PIN - 680 307.

     3        SPECIAL SALE OFFICER (CHALAKKUDY S.C.B.GROUP)
              CO-OPERATIVE SOCIETY ASSISTANT REGISTRAR (GENERAL) OFFICE,
              CHALAKKUDY, PIN - 680 307.


     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
17.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                          SATHISH NINAN, J.
              = = = = = = = = = = = = = = = = = =
                    W.P.(C) No.8899 of 2022
              = = = = = = = = = = = = = = = = = =
             Dated this the 17th day of March, 2022

                            J U D G M E N T

Repayment of the credit facility availed by the

petitioner from the respondent Bank was defaulted.

Thereupon, recovery steps have been initiated by the

Bank. Ext.P3 is the sale notice issued by the Bank

proposing sale of immovable property mortgaged with the

Bank to be held on 31.03.2022. The petitioner has

approached this Court praying for grant of easy

instalment facility to wipe off the debt.

2. Heard the learned counsel for the petitioner and

the learned Standing Counsel for the Bank.

3. Considering the total amount involved and the

financial stringency pointed out by the petitioner, I am

of the opinion that a reasonable instalment facility can

be afforded.

4. Accordingly the writ petition is disposed of

with the following directions:- W.P.(C) No.8899 of 2022

1) An amount of ` 50,000/- shall be paid by the

petitioner towards the debt on or before

31.03.2022.

2) The balance amount payable, including interest

and costs, shall be paid in fifteen equal

monthly instalments commencing from

20.04.2022.

3) The subsequent instalments shall be payable on

or before the 20th day of the succeeding

months.

4) In case of default in payment of a single

instalment, the petitioner will lose the

benefit granted under this judgment.

Sd/-

SATHISH NINAN JUDGE

kns/-

//True Copy// P.S. to Judge APPENDIX OF WP(C) 8899/2022

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE ARBITRATION PETITION FILED BY THE 2ND RESPONDENT BEFORE THE ASSISTANT REGISTRAR (GENERAL).

Exhibit P2 THE TRUE COPY OF THE NOTICE IN FORM NO.8 AND 9 ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER.

Exhibit P3 THE TRUE COPY OF THE SALE NOTIFICATION DATED 25/02/2022 PUBLISHED IN MATHRUBHUMI DAILY DATED 27/02/2022.

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