S.Shynu vs Neyyattinkara Co-Operative ...
2022 Latest Caselaw 3465 Ker

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
         THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     TUESDAY, THE 22ND DAY OF MARCH 2022 / 1ST CHAITHRA, 1944


                          WP(C) NO. 9510 OF 2022
PETITIONER:

             S.SHYNU,
             S/O.SOLOMON,
             AGED 37 YEARS,
             THEKKEKARA PARAPPURAM VEEDU,
             PANNIMALA, KOOTHALI P.O,
             THIRUVANANTHAPURAM - 695505
             BY ADV S.MOHAMMED AL RAFI


RESPONDENTS:

             NEYYATTINKARA CO-OPERATIVE URBAN BANK
             LIMITED NO.931
             REPRESENTED BY AUTHORISED OFFICER,NEYYATTINKARA,
             THIRUVANANTHAPURAM- 695 121


             BY ADV.R.T.PRADEEP,SC


       THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON    22.03.2022,   THE    COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P(C) No.9510 OF 2022
                                  2

                      BECHU KURIAN THOMAS, J.
                 ===========================
                        W.P(C) No.9510 OF 2022
                ============================
                 Dated this the 22nd day of March, 2022

                                JUDGMENT

Petitioner seeks a relief for regularising the defaulted

loan account by permitting repayment in instalments. The

relief is claimed after the property kept as a security interest

is notified for sale on 30.03.2022 as per Ext.P1.

2. Sri.R.T.Pradeep, the learned Counsel for respondent

upon instructions submitted that respondent is agreeable to

defer the sale, scheduled to be held on 30.03.2022 provided

petitioner deposits an amount of Rs.60,000/- (Rupees Sixty

Thousand only) before the date of sale and clears the

balance of the outstanding amount also.

3. In view of the above, there will be a direction to the

respondent to defer the sale scheduled as per Ext.P1 on

condition that petitioner deposits an amount of Rs.60,000/-

(Rupees Sixty Thousand only) towards the outstanding

amount of Rs.1,84,067/- by 4 p.m. on or before 29.03.2022.

4. If the petitioner fails to deposit the said amount,

respondent is free to proceed with the sale scheduled as per

Ext.P1. However, if the said amount is deposited, the W.P(C) No.9510 OF 2022

petitioner is given liberty to pay the balance of the

outstanding amount of Rs.1,84,067/- after deducting the

payments, if any made, in '10' equated monthly instalments,

commencing from 30.04.2022 on the following conditions:

(i) Petitioner shall continue to pay the regular EMI's

along with the instalments directed above.

(ii) The remaining 10 instalments shall be paid on or

before the 30th day of the succeeding months.

(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 nk W.P(C) No.9510 OF 2022

APPENDIX OF WP(C) 9510/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE SALE NOTICE DATED 23.02.22 ISSUED BY THE RESPONDENT