Antony, V. J vs Kerala Bank
2023 Latest Caselaw 5834 Ker

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
              THE HONOURABLE MR. JUSTICE GOPINATH P.
     WEDNESDAY, THE 24TH DAY OF MAY 2023 / 3RD JYAISHTA, 1945
                        WP(C) NO. 14712 OF 2023
PETITIONER:

             ANTONY V. J
             AGED 56 YEARS, S/O JOSEPH,
             VALIYAPARAMBIL HOUSE, CHANDANAKKAMPARA P.O,
             PAYYAVOOR VIA, KANNUR DISTRICT, PIN - 670 633.

             BY ADVS.
                     V.T.MADHAVANUNNI
                     V.A.SATHEESH
                     ANAND V.S



RESPONDENTS:

      1      KERALA BANK
             (KERALA STATE COOPERATIVE BANK)
             SREEKANDAPURAM BRANCH, SREEKANDAPURAM P.O,
             KANNUR DISTRICT,PIN - 670 631.
             REPRESENTED BY THE BRANCH MANAGER.

      2      SPECIAL SALE OFFICER/JUNIOR INSPECTOR
             KERALA STATE COOPERATIVE BANK,
             KANNUR REGION, OFFICE OF THE DEPUTY REGISTRAR,
             KANNUR DISTRICT, PIN - 670001

             BY ADV M.SASINDRAN




       THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON    24.05.2023,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P.(C)No.14712/2023                   2



                         JUDGMENT

Petitioner availed a loan from the respondent Bank. On

default being committed proceedings have been initiated

under the Kerala Co-operative Societies Act, 1969, for

recovery of the amounts due from the petitioner. The

petitioner has therefore approached this Court by filing the

above writ petition, essentially seeking the benefit of

installments to clear the liability.

2. During the course of hearing, the petitioner has

confined the relief to an opportunity of repaying the overdue

amount in instalments and to obtain regularisation of the

loan account.

3. The learned counsel appearing for the respondent

Bank would submit that while the total outstanding amount

as on 24-05-2023 is Rs.5,33,226/-, the overdue amount is

Rs.3,51,952/-. He submits that some reasonable installments

can be given to the petitioner to pay off the overdue amount,

provided the petitioner services the loan by paying the

regular EMI's on time.

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 clear off the overdue

amount in fifteen (15) equal monthly instalments, first of

which shall be paid on or before 12-06-2023 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.3,51,952/- along with bank charges from the

petitioner and regularise the loan account of the petitioner

on the following conditions:

(i) The overdue amount of Rs.3,51,952/- together

with any accrued interest and charges shall be

repaid in fifteen (15) equated monthly

installments.

(ii) The first installment shall be paid on or before

12-06-2023 and the subsequent installments

shall be paid on or before the 12th day of every

succeeding month.

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

along with the installments as directed above.

(iv) In the event of default of any one installment, 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 ats

APPENDIX OF WP(C) 14712/2023

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 12.04.2023 ISSUED TO THE PETITIONER BY RESPONDENT NO.2