Sandeep P V vs The Kerala State Co-Operative ...
2023 Latest Caselaw 8284 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     TUESDAY, THE 1ST DAY OF AUGUST 2023 / 10TH SRAVANA, 1945
                       WP(C) NO. 25086 OF 2023
PETITIONERS:

    1     SANDEEP P V, AGED 42 YEARS,
          S/O.KARUNAKARAN, RESIDING AT PUTHIYAVEETIL HOUSE,
          VELLARVALLY P O, KANNUR DISTRICT - 670673.

    2     ANU P R, AGED 37 YEARS,
          W/O SANDEEP P V, RESIDING AT PUTHIYAVEETIL HOUSE,
          VELLARVALLY P O, KANNUR DISTRICT - 670673.

          BY ADVS.
          RESHMA E.
          O.MINCY
          ANAKHA KRISHNA


RESPONDENT:

          THE KERALA STATE CO-OPERATIVE BANK LTD,
          HEAD OFFICE AT THIRUVANANTHAPURAM,
          REP. BY AUTHORIZED OFFICER,
          KANNUR REGIONAL OFFICE,
          P.B. NO.35, KANNUR DISTRICT - 670001.

          BY ADV M.SASINDRAN, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 25086 OF 2023
                             -2-

                          JUDGMENT

When this matter was called today,

Sri.M.Sasindran - learned Standing Counsel for

the respondent, submitted that the overdue

amount in the loan account of the petitioners is

Rs.8,07,394/- as on 01.08.2023; and that if the

petitioners pay the same, along with applicable

charges and interest, in not more than 15 equal

monthly installments, it can be regularized,

provided they also pay the regular EMIs in time

without default.

2. Smt.Reshma E. - learned counsel for the

petitioners, submitted that her clients will

accept the afore offer and prayed that this writ

petition be ordered on such terms.

Resultantly, I order this writ petition,

granting liberty to the petitioners to pay the

overdue amount Rs.8,07,394/- (Rupees eight lakhs WP(C) NO. 25086 OF 2023

seven thousand three hundred and ninety four

only) in the loan account, as on 01.08.2023,

along with all applicable charges and interest,

in 15 equal monthly installments, commencing

from 25.08.2023; in which event, said account

will stand regularized.

Needless to say, the petitioners will also

pay the regular EMIs, falling due hereinafter,

along with the afore payment.

If, for any reason, the petitioners fail or

refuse to honour any two consecutive

installments as ordered afore, the benefit of

this judgment shall be lost to them; and the

Bank will be at full liberty to recover the

balance as per law, without having to obtain any

further orders from this Court.

Sd/-

DEVAN RAMACHANDRAN akv JUDGE WP(C) NO. 25086 OF 2023

APPENDIX OF WP(C) 25086/2023

PETITIONER EXHIBITS

EXHIBIT P1 TRUE COPY OF POSSESSION NOTICE DATED 24.03.2023 ISSUED BY THE RESPONDENT UNDER RULE 8 (1) OF THE ENFORCEMENT RULES.