Kerala High Court
Nasari V vs The Kerala State Co-Operative ... on 24 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 24TH DAY OF MARCH 2022 / 3RD CHAITHRA, 1944
WP(C) NO. 10015 OF 2022
PETITIONER:
NASARI V,
W/O.JALEEL,
AGED 44 YEARS,
AL JANNAH HOUSE, THEZHKKIL PEEDIKA,
THAZHE CHOVVA, KANNUR DISTRICT.,
PIN - 670018
BY ADV K.ABOOBACKER SIDHEEQUE
RESPONDENT:
THE KERALA STATE CO-OPERATIVE BANK, KANNUR
REGIONAL OFFICE, KANNUR, PB NO. 35,
KANNUR DISTRICT, PIN--670 001,
REPRESENTED BY ITS AUTHORIZED OFFICER.
BY ADV M.SASINDRAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 24.03.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C) No.10015 of 2022
2
BECHU KURIAN THOMAS, J.
================
W.P.(C) No.10015 of 2022
================
Dated this the 24th 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.9,80,000/-. 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.
4. I have heard Adv.K.Aboobacker Sidheeque, learned counsel
for the petitioner as well as Adv.M.Sasindran, learned Standing
Counsel for the respondent.
W.P.(C) No.10015 of 2022
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 14 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.9,80,000/-
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.9,80,000/- shall be repaid in
'14' equated monthly instalments.
(ii) The first instalment shall be paid on or before 24.04.2022
and the remaining instalments shall be paid on or before
the 24th day of the succeeding months.
(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.
W.P.(C) No.10015 of 2022
(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
nk
W.P.(C) No.10015 of 2022
APPENDIX OF WP(C) 10015/2022
PETITIONER EXHIBIT
Exhibit-P1 TRUE COPY OF THE NOTICE DATED 30.11.2021
UNDER 13 (2) OF THE SARFAESI ACT.
