Sumi .R vs 1. The Secretary, Paravur ...
2023 Latest Caselaw 7623 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
            THE HONOURABLE MR. JUSTICE GOPINATH P.
    FRIDAY, THE 14TH DAY OF JULY 2023 / 23RD ASHADHA, 1945
                    WP(C) NO. 18783 OF 2023
PETITIONER/S:

          SUMI .R
          AGED 38 YEARS
          W/O ALOYSIUS GOMES, MOOLAVILA VEEDU, KURUMANDAL,
          PARAVUR P.O, KOL!AM., PIN - 691301

          BY ADVS.
          SAJU J PANICKER
          KURIAN K JOSE



RESPONDENT/S:

    1     THE SECRETARY, PARAVUR S.N.V.R.C BANK
          LIMITED NO: 1685, PARAVUR, KOL!AM., PIN - 691301

    2     ASST. REGISTRAR OF CO-OPERATIVE SOCIETIES
          ARBITRATOR CUM SALE OFFICER, PARAVUR S.N.V.R.C BANK
          LIMITED NO: 1685, PARAVUR, KOLLAM, PIN - 691301

          BY ADV B.SURESH KUMAR


THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.07.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.18783/2023                    2

                               JUDGMENT

The petitioner availed a loan of Rs.10 lakhs on 21.12.2020. Since

the petitioner had defaulted in repayment of the liability, arbitration

proceedings were initiated against the petitioner under the provisions of

the Kerala Co-operative Societies Act, 1969 and an award was obtained

determining the amounts payable by the petitioner. On the award being

put to execution, the petitioner has approached this Court and the only

relief now sought for by the petitioner is to permit the petitioner to clear

the entire liability in some instalments.

2. The learned counsel appearing for the respondent bank refers

to the counter affidavit filed in this case and states that, as on 12.6.2023,

the total amount payable by the petitioner is Rs.13,40,887/-. He states

that there is no objection in granting installments to the petitioner to

clear the liability.

3. 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 outstanding amount in ten (10) instalments.

4. Accordingly, there will be a direction to the respondent bank

to accept repayment of the entire outstanding amount of Rs.13,40,887/-

along with bank charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.13,40,887/- together with

any accrued interest/costs shall be repaid in ten (10)

equated monthly instalments.

(ii) The first instalment shall be paid on or before 31-07-2023

and subsequent instalments shall be paid on or before 30 th

day of every succeeding months.

(iii) In the event of 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 shall be kept in

abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE acd

APPENDIX OF WP(C) 18783/2023

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE GAHAN DATED 15.12.2020 EXECUTED BETWEEN THE PETITIONER AND THE 1 ST RESPONDENT BANK

Exhibit -P2 TRUE COPY OF DEMAND NOTICE IN EP 392/2023 DATED 12.4.2023 ISSUED BY THE 2ND RESPONDENT.