1. Bindulal @ Lalumon vs 1. The Joint Registrar
2023 Latest Caselaw 3675 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
    WEDNESDAY, THE 29TH DAY OF MARCH 2023 / 8TH CHAITHRA, 1945
                        WP(C) NO. 23236 OF 2022
PETITIONER/S:

    1     BINDULAL @ LALUMON , AGED 40 YEARS
          S/O BHASKARAN, VATTAPARAMBIL VEEDU, VATTEKADU,KODAKARA
          VILLAGE, CHALAKUDY,TRISSUR DISTRICT., PIN - 680512
    2      SAUBHAGYAVATHI, AGED 65 YEARS
           W/O. BHASKARAN, VATTAPARAMBIL VEEDU, VATTEKADU,
          KODAKARA VILLAGE, CHALAKUDY, TRISSUR DISTRICT., PIN -
          680512
    3     SANITHA, AGED 35 YEARS
          W/O. BINDULAL, VATTAPARAMBIL VEEDU, VATTEKADU, KODAKARA
          VILLAGE, CHALAKUDY ,TRISSUR DISTRICT., PIN - 680512
          BY ADV K.RAJESWARY


RESPONDENT/S:

    1     THE JOINT REGISTRAR
           CO-OPERATIVE SOCIETIES, TRISSUR-680002, PIN - 680002
    2     THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK LTD,
          KODAKARA BRANCH, TRISSUR DISTRICT-680684, PIN - 680684
    3     THE AUTHORIZED OFFICER , KERALA STATE CO-OPERATIVE BANK
          LTD, KODAKARA BRANCH, TRISSUR DISTRICT-680684, PIN -
          680684
          BY ADV P.C SASIDHARAN


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 23236 OF 2022               2



                              JUDGMENT

Petitioners availed a loan by mortgaging their property

from the Kerala State Co-Operative Bank Limited, Kodakara

Branch in the year 2016. On default being committed,

proceedings were initiated by the respondent Bank under

the provisions of the Kerala Co-operative Societies Act,

1969, leading to issuance of Ext.P1 notice. Petitioners have

approached this Court essentially seeking an opportunity of

paying the overdue amount in instalments.

2. Learned counsel appearing for the petitioners would

submit that the petitioners could not repay the liability due

to financial stringency. It is submitted that the petitioners

may be permitted to clear the overdue amount in reasonable

instalments.

3. Learned counsel appearing for the respondent

bank would submit that, as on 27.03.2023, the overdue

amount, is Rs.41,33,223/-,(Rupees Forty one lakhs thirty

three thousand two hundred and twenty three only) and the

petitioners can be given a few instalments to clear the

liability. It is submitted that proceeding under Section 14 of

the SARFAESI Act have also been initiated and in the event

of any further default, the bank may be permitted to re-open

those proceedings.

4. Having heard the learned counsel appearing for the

petitioners and the learned counsel appearing for the

respondent bank, I am of the view that the petitioners can be

granted an opportunity to repay the overdue amount in

fifteen instalments and thereafter, if the amount so directed

is repaid within the time as directed above, to have the loan

account regularised.

5. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.41,33,223/-,(Rupees Forty one lakhs thirty

three thousand two hundred and twenty three only) along

with any accrued interest and costs from the petitioners and

regularise the loan account of the petitioners in the

following manner:-

(i) The overdue amount of Rs.41,33,223/-,(Rupees Forty one lakhs thirty three thousand two hundred and twenty three only) along with any accrued interest and charges shall be repaid in fifteen equated monthly instalments;

(ii)The first instalment shall be paid on or before 17.04.2023 and the subsequent instalments shall be paid on or before 17th day of each succeeding month;

(iii)Petitioners shall continue to pay the regular EMI's/instalments 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 petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance;

(vi) If the petitioners default in repayment of the liability as directed in this judgment, it will be open to the respondent bank to reopen the proceedings initiated before the Chief Judicial Magistrate Court, Thrissur, under Section 14 of the SARFAESI Act.

The writ petition is disposed of as above.

sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 23236/2022

PETITIONER EXHIBITS Exhibit-P1 TRUE COPY OF THE PLAINT NUMBERED AS ARC.263 OF 2021 FILED BY THE 2ND RESPONDENT BEFORE THE 1ST RESPONDENT Exhibit-P2 TRUE COPY OF THE SUMMONSES ISSUED BY THE 1ST RESPONDENT AGAINST THE PETITIONERS Exhibit-P3 TRUE COPY OF THE REPRESENTATION MADE BY THE PETITIONER BEFORE THE 2ND RESPONDENTS