Sreekala Premkumar vs The Special Sale Officer
2023 Latest Caselaw 3273 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. 4434 OF 2023
PETITIONER:

          SREEKALA PREMKUMAR
          AGED 47 YEARS
          W/O. PREMKUMAR, THERAMPULLY HOUSE, MAITHRI NAGAR 2ND
          STREET, KOLAZHY, THRISSUR, PIN - 680010

          BY ADV E.V.MOLY


RESPONDENTS:

    1     THE SPECIAL SALE OFFICER
          PERINGANDOOR SERVICE CO-OPERATIVE BANK LTD OFFICE OF
          THE ASSISTANT REGISTRAR OF CO-OPERATIVE
          SOCIETIES(GENERAL), THALAPPALLY P.O., WADAKKANCHERRY,
          PIN - 680582

    2     PERINGANDOOR SERVICE CO-OPERATIVE BANK LTD -297 REP. BY
          ITS SECRETARY
          ATHANI, THRISSUR, PIN - 680581

          ADV. ARUN KRISHNAN, SC.


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.4434/2023                         -2-

                                     JUDGMENT

The petitioner availed a term loan from the respondent bank. On default

being committed, proceedings were initiated against the petitioner under the

provisions of the Kerala Co-operative Societies Act, 1969, 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 may be permitted to clear the overdue amount in installments and

regularise the loan account.

3. It was submitted on behalf of the respondent bank that the petitioner

committed default in repayment and the overdue amount as on 22-03-2023 is

Rs.9,25,838/-. It is submitted that the bank has no objection in granting some

reasonable installments to the petitioner to clear the liability.

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

learned counsel appearing for the respondents bank, this writ petition is disposed of

in the following manner;

(i) The overdue amount of Rs.9,25,838/- together with any accrued

interest and charges shall be repaid in fifteen (15) equated monthly

instalments.

(ii) The first instalment shall be paid on or before 31-03-2023 and the

subsequent instalments shall be paid on or before 30 th day of every

succeeding months.

(iii) Petitioner shall continue to pay the regular EMI's along with the

instalments directed above.

(iv) In the event of default of any one instalment, the respondent bank

shall be entitled to proceed in accordance with law.

(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 AMG

APPENDIX OF WP(C) 4434/2023

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE PETITION IN ARCM 583/2021 IN E.P.NO.827/2022 RECEIVED BY THE PETITIONER

Exhibit P2 THE TRUE COPY OF THE NOTICE DATED 24.1.2023 RECEIVED BY THE PETITIONER

Exhibit P3 THE TRUE COPY OF THE LETTER SENT BY THE PETITIONER