Velayudhan C vs Kerala State Co-Operative Bank
2023 Latest Caselaw 5178 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
             THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
 TUESDAY, THE 18TH DAY OF APRIL 2023 / 28TH CHAITHRA, 1945
                    WP(C) NO. 14220 OF 2023
PETITIONER/S:

            VELAYUDHAN C
            AGED 50 YEARS
            S/O CHELLY CHEMBANAMARIL(H), PILATHARA
            KADAMPUZHA, MALAPPURAM, PIN - 676553
            BY ADVS.
            K.S.ARUN KUMAR
            SRUTHY UNNIKRISHNAN
            ARYA B. VENUGOPAL


RESPONDENT/S:

    1       KERALA STATE CO-OPERATIVE BANK
            REPRESENTED BY BRANCH MANAGER, KOTTAKAL BRANCH,
            PIN - 676503
    2       THE AUTHORIZED OFFICER
            KERALA STATE CO-OPERATIVE BANK KOTTAKAL BRANCH,
            PIN - 676503
            BY ADV GILBERT GEORGE CORREYA


     THIS    WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION    ON   18.04.2023,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
                                                      -2-
W.P.(C). No. 14220 of 2023



                                  VIJU ABRAHAM, J.
                               ================================================

                             W.P.(C) No. 14220 of 2023
                         =============================================================

                     Dated this the 18th day of April, 2023

                                         JUDGMENT

The 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 the 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 as on today is Rs.14,75,476/-. 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.

W.P.(C). No. 14220 of 2023

4. I have heard the learned counsel for the petitioner as well

as the learned Standing Counsel for the respondent.

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 '15'

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.14,75,476/- along with bank charges from the petitioner and to

regularise the loan account of the petitioner on the following

conditions:

W.P.(C). No. 14220 of 2023

(i) The overdue amount of Rs.14,75,476/- shall be repaid in 15 equated monthly instalments commencing from 20.05.2023.

(ii) Petitioner shall continue to pay the regular EMI's along with the instalments directed above.

(iii) In the event of any 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 against the petitioner shall be kept in abeyance.

The writ petition is disposed of as above. sd/-

VIJU ABRAHAM JUDGE das

W.P.(C). No. 14220 of 2023

APPENDIX OF WP(C) 14220/2023

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF REVENUE RECOVERY NOTICE DATED 13/02/23 ISSUED BY 1ST RESPONDENT