Shaj vs The Manager,The Kerala State ...
2022 Latest Caselaw 3650 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE SATHISH NINAN
         THURSDAY, THE 24TH DAY OF MARCH 2022 / 3RD CHAITHRA, 1944
                              WP(C) NO. 6674 OF 2022
PETITIONER:

              SHAJ
              AGED 47 YEARS
              S/O.HAMSA RAWTHER, RESIDING AT BISMI MANZIL, PAPPALODE,
              MEEYANA P.O., KOTTARAKKARA TALUK, KOLLAM DISTRICT-691 510.

              BY ADVS.
              C.R.JAYAKUMAR
              NOBEL RAJU



RESPONDENTS:

     1        THE MANAGER,THE KERALA STATE CO-OPERATIVE BAN
              PB NO.6515, COBANK TOWERS, PALAYAM,
              THIRUVANANTHAPURAM,KERALA,PIN-695 033

     2        THE BRANCH MANAGER,
              THE KERALA STATE CO-OPERATIVE BANK LTD, OYOOR BRANCH,
              KOTTARAKKARA TALUK, KOLLAM DSTRICT-691 510.

              BY ADV P.C.SASIDHARAN




     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
24.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                       SATHISH NINAN, J.
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                 W.P.(C) No.6674 of 2022
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          Dated this the 24th day of March, 2022

                       J U D G M E N T

The credit facility availed by the petitioner from

the respondent Bank, bearing loan account

No.030396025020497, was defaulted. Proposing to initiate

recovery proceedings, the Bank has issued Ext.P1 demand

notice. The petitioner seeks for regularisation of the

loan.

2. Heard the learned counsel for the petitioner and

the learned Standing Counsel for the Bank.

3. Further term is available for the facility. The

learned Standing Counsel for the Bank submits that the

Bank is not averse to regularisation of the account

provided the interests of the Bank is not affected.

4. Considering the overdue amount, the term of the

loan and the financial constraints pointed out by the

petitioner, I am of the opinion that a reasonable

facility can be afforded.

W.P.(C) No.6674 of 2022

5. The petitioner is permitted to have the loan

account in question regularised in the following

manner:-

(i) An amount of ` 50,000/- shall be paid towards

the debt on or before 31.03.2022.

(ii) The balance amount required for

regularisation, inclusive of interests and costs, shall

be paid in ten equal monthly instalments commencing from

20.04.2022.

(iii) The subsequent instalments shall be payable

on or before the 20th day of the succeeding months.

(iv) The instalments as above shall be in addition

to the regular EMI payable.

(iv) In case of default in payment of a single

instalment as above, 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) 6674/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 15.02.2022 ISSUED BY THE 2ND RESPONDENT

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