Madhukumar. S vs Thiruvananthapuram ...
2023 Latest Caselaw 5836 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. 6262 OF 2023
PETITIONER/S:

          MADHUKUMAR. S.
          AGED 56 YEARS
          S/O. SIVAN, CHUNAYARA HOUSE, SASTHAVATTAM, KATTAIKONAM
          P.O., THIRUVANANTHAPURAM, PIN - 695584
          BY ADVS.
          SHAKTHI PRAKASH
          ARYA UNNIKRISHNAN


RESPONDENT/S:

    1     THIRUVANANTHAPURAM CO-OPERATIVE AGRICULTURAL AND RURAL
          DEVELOPMENT BANK LTD. NO. T.170
          REPRESENTED BY ITS AUTHORIZED OFFICER, KAZHAKOOTTAM
          BRANCH, HOUSING BOARD JUNCTION, THIRUVANANTHAPURAM, PIN
          - 695582
    2     THE SPECIAL SALE OFFICER
          THIRUVANANTHAPURAM CO-OPERATIVE AGRICULTURAL AND RURAL
          DEVELOPMENT BANK LTD. NO. T.170, HOUSING BOARD
          JUNCTION, THIRUVANANTHAPURAM, PIN - 695001
          BY ADV SUMAN CHAKRAVARTHY


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6262 OF 2023                   2



                                   JUDGMENT

Petitioner availed a loan from the respondent bank. On

default being committed, proceedings were initiated against the

petitioner under the provisions of the Kerala State Co-operative

Agricultural and Rural Development Bank Act, 1984, leading to

the issuance of Ext.P1 notice. This prompted the petitioner to

approach this Court by filing the above writ petition.

2. Learned counsel appearing for the petitioner would

submit that the petitioner could not repay the loan on account

of financial stringency. It is submitted that the amount of

Rs.1,00,000/- directed to be paid as a condition for the interim

order dated 27.02.2023 has already been paid. It is submitted

that the petitioner may be permitted to clear the balance

liability in some instalments.

3. Learned counsel appearing for the respondent bank

would submit that, as on 14.03.2023, the outstanding amount

due from the petitioner, is Rs.14,88,853/- (Rupees Fourteen

lakhs eighty eight thousand eight hundred and fifty three only),

after giving credit to the amount already paid by the petitioner.

It is submitted that the petitioner will also be liable for future

interest and costs. It is submitted that the while the

respondent bank has no objection in granting some limited

instalments to the petitioner, the number of instalments may be

limited to ten.

4. Learned counsel appearing for the petitioner would

submit that considering the amount involved, petitioner may be

permitted to clear the liability in fifteen instalments.

5. Having regard to the circumstances of the case and

the situation now prevailing, I am of the view that the petitioner

can be granted an opportunity to repay the entire liability in

fifteen equated monthly instalments.

6. Accordingly, there will be a direction to the respondent

bank to accept repayment of the outstanding amount of

Rs.14,88,853/- (Rupees Fourteen lakhs eighty eight thousand

eight hundred and fifty three only) along with accrued interest

and bank charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.14,88,853/- (Rupees Fourteen lakhs eighty eight thousand eight hundred and fifty three only) shall be repaid in fifteen equated monthly instalments along with any accrued interest/costs;

(ii) The first instalment shall be paid on or before 12.06.2023 and the subsequent instalments shall be paid on or before the 12th day of the 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 as above, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 6262/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 03.02.2023 ISSUED BY THE 2ND RESPONDENT