Niya Soman vs The Kerala State Co-Operative ...
2022 Latest Caselaw 5659 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
            THE HONOURABLE MR. JUSTICE SATHISH NINAN
   FRIDAY, THE 27TH DAY OF MAY 2022 / 6TH JYAISHTA, 1944
                      WP(C) NO. 27225 OF 2021
PETITIONER:

            NIYA SOMAN,AGED 28 YEARS,D/O.SOMAN, MAVILA
            THEKKETHIL, AYANIKULANGARA, SVM P.O.,
            KARUNAGAPALLY, KOLLAM, PIN-690 573.
            BY ADVS.
            AJAYA KUMAR. G
            M.JAYAKRISHNAN
RESPONDENTS:

    1       THE KERALA STATE CO-OPERATIVE BANK LTD.,
            REPRESENTED BY THE AUTHORIZED OFFICER, HEAD
            OFFICE, KOLLAM, PIN-691 001.
    2       THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE
            BANK LTD., KARUNAGAPALLY BRANCH, KARUNAGAPALLY
            P.O., KOLLAM, PIN-690 518.


            SR.G.P SRI BIMAL.K.NATH


     THIS     WRIT   PETITION     (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   27.05.2022,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
                         Sathish Ninan, J.
                 ==============================
                     W.P(C) No.27225 of 2021
                   ==========================
              Dated this the 27th day of May, 2022

                               JUDGMENT

Repayment of the credit facility availed by the

petitioner from the respondent Bank was defaulted. The

loan was availed with the brother of the petitioner as a

co-obligant. Unfortunately he met with an accident and

passed away in the year 2017. The younger sister of the

petitioner got diagnosed with Kidney disease and is

advised for kidney transplantation. The petitioner is in

grave financial constraints which resulted in default in

the loan account. The petitioner seeks for an

opportunity to have the loan account in question

regularised.

2. Heard the learned counsel for the petitioner and

the learned standing counsel for the Bank.

3. The learned standing counsel for the Bank

submits that further term is available for the facility

in question and that an opportunity for regularisation

could be granted provided the interests of the Bank is

not affected.

4. Considering the facts and circumstances as

noticed first above, including the financial constraints

projected and the quantum of amount involved, I am of

the opinion that an opportunity can be granted to have

the loan account regularised.

Accordingly, the writ petition is disposed of with

the following directions:

1) Petitioner shall be permitted to have the

loan account regularised on payment of the

entire overdue amount, with interest and

costs, in eight equal monthly instalments

commencing from 20.06.2022.

2) Subsequent instalments shall be payable

on or before the 20th day of the subsequent

months.

3) The instalments as above shall be in

addition to the regular EMIs payable in the

loan account.

4) In case of default in payment of a single

instalment, the petitioner will lose the

benefit granted under this judgment and

further proceedings for recovery can go on.

Sd/-

Sathish Ninan, Judge

vdv APPENDIX OF WP(C) 27225/2021

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEATH CERTIFICATE DATED 25.11.2021 ISSUED BY THE REGISTRAR OF BIRTH AND DEATH, KOLLAM CORPORATION.

Exhibit P2 TRUE COPY OF THE RELEVANT PAGES OF THE LOAN PASS BOOK OF THE PETITIONER.

Exhibit P3 DEMAND NOTICE DATED 05.02.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.

Exhibit P4 DEMAND NOTICE DATED 03.11.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.