M.V. Vijayan vs Kunnathunadu Taluk Primary Co ...
2023 Latest Caselaw 7303 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
      TUESDAY, THE 27TH DAY OF JUNE 2023 / 6TH ASHADHA, 1945
                         WP(C) NO. 4739 OF 2023
PETITIONER/S:

          M.V. VIJAYAN
          AGED 60 YEARS
          S/O.VELAYUDHAN,
          MALIKALA HOUSE, VENGOLA,
          VENGOLA P.O., ERNAKULAM DISTRICT,
          PIN - 683556
          BY ADVS.
          P.M.ARUN DAS
          BIBIN VARGHESE


RESPONDENT/S:

          KUNNATHUNADU TALUK PRIMARY CO OPERATIVE
          AGRICULTURAL &RURAL DEVELOPMENT BANK LTD.,
          KUNNATHUNADU, PERUMBAVOOR,
          ERNAKULAM DISTRICT, PIN - 683542

          BY ADVS.
          P.C.SASIDHARAN
          SIRAJ KAROLY




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.4739 of 2023

                                           2




                                 JUDGMENT

The petitioner availed several credit facilities from

the respondent bank including a housing loan, personal loan

and cash credit facility. 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 petitioner is a senior citizen

and the petitioner may be permitted to clear the overdue

amounts in the loan accounts by paying the overdue amount in

respect of each of the credit facilities in some instalments.

3. The learned counsel appearing for the

respondent bank would submit that, while the total outstanding

liability in respect of all the credit facilities put together is

Rs.12,41,546/- (Rupees Twelve lakh Forty One Thousand Five

Hundred and Forty Six only) as on today, the overdue amounts WPC No.4739 of 2023

in respect of the credit facilities as on today is Rs,7,61,910/-

(Rupees Seven lakh Sixty One Thousand Nine Hundred and Ten

only). It is submitted that the bank has no objection in some

limited instalments being granted to the petitioner to clear the

overdue amounts and regularize the loan accounts.

Having regard to the above submission, the writ

petition is disposed of in following directions:

i) The overdue amount of Rs,7,61,910/-(Rupees

Seven lakh Sixty One Thousand Nine Hundred and Ten only)

together with any accrued interest and charges shall be repaid

in twelve (12) equated monthly instalments.

ii) The first instalment shall be paid on or before

15.07.2023 and the subsequent instalments shall be paid on or

before the 15th day of every succeeding month.

iii) The petitioner shall continue to pay the regular

EMI's along with the instalments as directed above.

iv) In the event of default of any one instalment,

the respondent bank shall be entitled to proceed in accordance

with law.

WPC No.4739 of 2023

v) 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 rkj WPC No.4739 of 2023

APPENDIX OF WP(C) 4739/2023

PETITIONER EXHIBITS Exhibit P1 NOTICE OF SALE