Dileep Kumar vs |Tirur Co-Operative Agriculture ...
2023 Latest Caselaw 9082 Ker

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                             PRESENT
              THE HONOURABLE MR. JUSTICE GOPINATH P.
     WEDNESDAY, THE 23RD DAY OF AUGUST 2023 / 1ST BHADRA, 1945
                     WP(C) NO. 10808 OF 2023
PETITIONER/S:
           DILEEP KUMARAGED 33 YEARSS/O. BHAKTHAVALSALAN,
           POTTAYIL, KAVILAKKAD, PURATHUR, PUDUPPALLI, MALAPPURAM,
           PIN - 676102

          BY ADVS.S.MUMTAZALISHA ASLAMAMINA RUBY FAIZAL


RESPONDENT/S:
     1     |TIRUR CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT
           BANK LTD., NO.M-11, REPRESENTED BY THE SECRETRARY,
           TIRUR P O, MALAPPURAM, PIN - 676101

    2     ASSISSTANT RREGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE
          OF THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES
          (GENERAL), MINI CIVIL STATION, TIRUR, MALAPPURAM, PIN -
          676101

    3     THE SPECIAL SALE OFFICERTIRUR CO-OPERATIVE AGFRICULTURE
          AND RURAL DEVELOPMENT BANK LTD., M-11, TIRUR P O,
          MALAPPURAM, PIN - 676101

    4     REGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE OF THE
          REGISTRAR OF CO-OPERATIVE SOCIETIES,
          THIRUVANANTHAPURAM, PIN - 695001

    5     STATE OF KERALAREPRESENTED BY THE SECRERTARY, CO-
          OPERATIVE DEPARTMENT, SECRETARIAT, THIRUVANANTHAPURAM,
          PIN - 695001

          BY ADV SAYED MANSOOR BAFAKHY THANGAL


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.10808/2023                    2

                               JUDGMENT

Petitioner availed three separate loans from the respondent Bank.

On default being committed proceedings have been initiated against the

petitioner under the provisions of the Kerala State Co-operative

Agricultural and Rural Development Banks Act, 1984, prompting the

petitioner to approach this Court by filing the above writ petition.

2. The learned counsel appearing for the petitioner would submit

that the only relief sought for by the petitioner is for a direction to the

respondent bank to permit the petitioner to clear the liability in some

installments.

3. The learned counsel appearing for the respondent Bank

submits that out of the three loans availed by the petitioner, the term of

one loan has already expired and the entire outstanding amount in the

aforesaid loan is Rs.7,94,026/-. It is submitted that in respect of other

two loans (Loan Nos.122/TELS & 489/TFL) the loan accounts can be

regularized by remitting the present overdue amount of Rs.1,51,636/-.

Both these amounts are stated to be as on 23-08-2023. It is submitted

that some reasonable installments can be granted to the petitioner.

4. Having heard the learned counsel for the petitioner and the

learned counsel for the respondent Bank, this writ petition will stand

disposed of directing the respondent bank to accept repayment of the

outstanding amount of Rs.7,94,026/- along with accrued interest and bank

charges from the petitioner in installments (in respect of the loan, the term

of which has expired) and to permit the petitioner to regularize the loan

accounts (Loan Account Nos.122/TELS & 489/TFL) by paying the total

overdue amount of Rs.1,51,636/- along with regular EMI's and accrued

interests and costs as under:-

(i) The outstanding amount of Rs.7,94,026/- (in respect of the

loan, the term of which has expired) together with any accrued

interest/costs shall be repaid in nine (9) equated monthly installments

starting from 05-09-2023. The subsequent installments shall be paid on

or before 5th day of the succeeding months;

(ii) The total overdue amount of Rs.1,51,636 /- (in respect of loan

Account Nos.122/TELS & 489/TFL, which can be regularized) together

with accrued interest and costs shall be repaid in nine (9) equated

monthly instalments commencing from 05-09-2023. The subsequent

installments shall be paid on or before the 5th day of the succeeding

months. Petitioner shall also continue to pay the regular EMI's on due

dates without fail, in respect of the loans that have been permitted to be

regularized.

(iii) In the event of default of any one installment, 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 shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

                                                    JUDGE
acd


                  APPENDIX OF WP(C) 10808/2023
PETITIONER EXHIBITS

Exhibit P 1            TRUE COPY OF THE SALE NOTICE DATED
                       27/2/2023 ISSUED BY THE 3RD RESPONDENT TO
                       THE PETITIONER