Noushad N.B vs Venkitangu Farmers Co Operative ...
2023 Latest Caselaw 3256 Ker

               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. 3337 OF 2023
PETITIONER:

          NOUSHAD N.B,
          AGED 45 YEARS,
          S/O.BUHARI, NALAKKATH HOUSE, VENKITANGU P.O, KANNOTH
          TRISSUR DISTRICT, PIN - 680 510.
          BY ADVS.
          K.R.ARUN KRISHNAN
          DEEPA K.RADHAKRISHNAN
          JISSMON A KURIAKOSE
          SANAL C.S


RESPONDENTS:

    1     VENKITANGU FARMER'S CO OPERATIVE BANK,REPRESENTED BY
          ITS SECRETARY, CHAVAKKAD, THRISSUR, PIN- 680 506.

    2     SPECIAL SALE OFFICER,
          R187 VENKITANGU FARMER'S CO-OPERATIVE BANK LTD,
          ASST.REGISTRAR(GENERAL) OFFICE,CHAVAKKAD P.O
          THRISSUR DISTRICT, PIN - 680 506.

          BY ADVS.
          ARUN ASHOK IYYANI
          NEENA JAMES(K/000601/2013)


     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. 3337 OF 2023
                                         2

                                   JUDGMENT

The petitioner availed a loan from the respondent bank. On

default being committed, proceedings have been 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. The award is at the stage of execution and

the property of the petitioner was brought to sale, prompting the

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

2. The learned counsel for the petitioner would submit that

the petitioner may be permitted to clear the liability in installments.

3. The learned counsel for the respondent bank submits that

outstanding amount as on today is Rs.12,78,742/-. It was submitted

that the term of the loan has already over and therefore the entire

amount will have to be cleared by the petitioner. It is submitted that

the bank has no objection in granting some reasonable installments to

the petitioner to clear the liability.

4. 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 15 instalments.

5. Accordingly, there will be a direction to the respondent WP(C) NO. 3337 OF 2023

bank to accept repayment of the entire outstanding amount of

Rs.12,78,742/- along with any accrued interest, costs and charges from

the petitioner on the following conditions:

(i) The outstanding amount of Rs.12,78,742/- (Rupees twelve lakhs seventy eight thousand seven hundred and forty two only) together 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 subsequent instalments shall be paid on or before the 05th 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 DK WP(C) NO. 3337 OF 2023

APPENDIX OF WP(C) 3337/2023

PETITIONER EXHIBITS Exhibit1 DEMAND NOTICE ISSUED ON THE DATE OF 7.7.2022 Exhibit2 NOTICE ISSUED BY THE 2ND RESPONDENT THE SENIOR INSPECTOR/SPECIAL SALE OFFICER R187.DATED 20.12.2022