Kerala High Court
Sudheer.V.A vs Kodungallur Taluk Primiary ... on 23 March, 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 23RD DAY OF MARCH 2023 / 2ND CHAITHRA, 1945
WP(C) NO. 7764 OF 2023
PETITIONER:
SUDHEER.V.A,
AGED 48 YEARS
S/O ALI, VALIYAVEETTIL HOUSE,P.O.MADAVANA,
KODUNGALLUR,THRISSUR DISTRICT, PIN-682 506.
BY ADVS.
K.S.RAJESH
M.SHAJU PURUSHOTHAMAN
RESPONDENTS:
1 KODUNGALLUR TALUK PRIMIARY CO-OPERATIVE AGRICULTURAL
AND RURAL DEVELOPMENT BANK LTD NO:R 1353,
P.O.KODUNGALLUR,PIN-680 664.
REPRESENTED BY IT'S SECRETARY.
2 THE SALE OFFICER,
KODUNGALLUR TALUK PRIMIARY CO-OPERATIVE AGRICULTURAL
AND RURAL DEVELOPMENT BANK LTD
NO:R1353,P.O.KODUNGALLUR,PIN-680 664.
3 THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES,
CIVIL STATION, AYYANTHOLE,THRISSUR, PIN-680 003.
BY ADVS.
T.R.HARIKUMAR
ARJUN RAGHAVAN(K/1277/2012)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 7764 OF 2023
2
JUDGMENT
The petitioner availed a loan from the respondent Bank. On
default being committed, proceedings were initiated under the Kerala
State Co-operative Agricultural and Rural Development Bank Act, 1984
(in short 'CARD Act').
2. The learned counsel appearing for the petitioner would
submit that the term of the loan is still 2028 and therefore, the
petitioner may be permitted to regularize the loan account by paying off
the overdue amounts in some instalments.
3. The learned counsel for the respondent Bank would submit
that though the term of the loan is not yet over, the present loan
account cannot be regularized as it is learnt that the mortgaged
property has been sold by the petitioner to a third party. It is submitted
that though the said sale will not affect the rights of the Bank on
account of the mortgage created, the sale of the mortgaged property
creates unnecessary complications and therefore, the question of
regularization of the loan account does not arise. It is submitted that as
on 07.03.2023, the total outstanding amount is Rs.12,55,228/-.
WP(C) NO. 7764 OF 2023
4. Having heard the learned counsel for the petitioner and the
learned counsel appearing for the respondent Bank, I am of the view
that the petitioner has not made out any case enabling him to a
direction that the loan account be regularized by paying the overdue
amount. However, I am of the view that the petitioner can be given one
last opportunity to clear the outstanding amount in instalments.
5. Accordingly, there will be a direction to the respondent bank
to accept repayment of the entire outstanding amount of Rs.12,55,228/-
(Rupees twelve lakhs fifty five thousand two hundred and twenty eight
only) along with any accrued interest, costs and charges from the
petitioner on the following conditions:
(i)The outstanding amount of Rs.12,55,228/-(Rupees twelve
lakhs fifty five thousand two hundred and twenty eight
only) along with any accrued interest, costs and charges
shall be repaid in 15 equated monthly instalments.
(ii)The first instalment shall be paid on or before 05.04.2023
and the subsequent instalments shall be paid on or before
the 05th day of every succeeding month.
(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.
WP(C) NO. 7764 OF 2023
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 7764 OF 2023
APPENDIX OF WP(C) 7764/2023
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED
24.2.2023 ISSUED BY THE 1ST RESPONDENT TO
THE PETITIONER
