Santhosh Thomas vs The Authorised Officer
2023 Latest Caselaw 10972 Ker

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
              THE HONOURABLE MR.JUSTICE N.NAGARESH
THURSDAY, THE 26TH DAY OF OCTOBER 2023 / 4TH KARTHIKA, 1945
                    WP(C) NO. 32497 OF 2023
PETITIONER:

         SANTHOSH THOMAS,
         AGED 51 YEARS, S/O ROY THOMAS, KALLUMKAL,
         CHERANGADAV,PANATHADY, PANATHUR, KASARGOD,
         KERALA, PIN - 671532

         BY ADV JUBAIRIYA SALIM


RESPONDENT:

         THE AUTHORISED OFFICER ,
         THE KERALA STATE CO-OPERATIVE BANK LTD.,
         REGIONAL OFFICE KANNUR, PIN - 670001

         BY ADV M.SASINDRAN


     THIS WRIT PETITION       (CIVIL) HAVING COME UP    FOR
ADMISSION ON 26.10.2023,      THE COURT ON THE SAME     DAY
DELIVERED THE FOLLOWING:
 WP(C) No.32497 of 2023
                               2




                         JUDGMENT

Dated this the 26th day of October, 2023

The petitioner is before this Court seeking to quash

Ext.P1 notice and all further proceedings pursuant thereto and

to direct the respondent to grant 20 Installments to the

petitioner to repay the overdue amount to the Bank.

2. The petitioner states that the petitioner has availed

a business loan of ₹20 lakhs on 29.02.2016. The petitioner

has provided sufficient security for the loan amount. Though

the petitioner was repaying the amount in Installments

promptly, due to reasons beyond the control of the petitioner,

repayments could not be made later. The Bank has initiated

coercive proceedings against the petitioner as per Ext.P1.

3. The petitioner submits that if the Bank is

proceeding with Ext.P1, the petitioner will be put to untold

hardship and loss. The petitioner is ready and willing to clear WP(C) No.32497 of 2023

the loan, if reasonable time is granted to the petitioner.

4. Standing Counsel entered appearance on behalf of

the respondent and resisted the writ petition. The Standing

Counsel submitted that the petitioner was given the

opportunity to clear the outstanding dues. The petitioner was

sent notices time and again. The petitioner deliberately fails to

pay the loan amount. In such circumstances, the petitioner is

not entitled to any leniency. However, if the petitioner is willing

to clear the entire loan with accruing interest within a short

span of time, the petitioner can be granted a breathing time,

submitted the Standing Counsel.

5. I have heard the learned counsel for the petitioner

and the learned Standing Counsel for the respondent.

6. From the writ petition, it is evident that the

petitioner has availed a loan of ₹20 lakhs from the

respondent-Bank. According to the respondent, the loan was

granted in the year 2016. The loan had to be repaid within 60

months. The petitioner has given 35.09 Cents of property as WP(C) No.32497 of 2023

security to the loan.

7. Taking into consideration the averments made in

the writ petition and the circumstances under which the loan

fell into arrears, I am inclined to grant the petitioner a

reasonable time to clear off the entire dues.

The writ petition is therefore disposed of permitting the

petitioner to clear the entire loan amount of ₹30,90,177/-

along with accruing interest and other administrative charges,

if any, in 12 Equal Monthly Installments. The first of such

Installments shall be paid on or before 27.11.2023 and the

remaining 11 Installments shall be paid in the subsequent 11

consecutive months. If the petitioner commits any default in

paying any of the installments as directed above, the

respondent will be at liberty to proceed against the petitioner

in accordance with law.

Sd/-

N.NAGARESH JUDGE spk WP(C) No.32497 of 2023

APPENDIX OF WP(C) 32497/2023

PETITIONER'S EXHIBITS

Exhibit 1 THE TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT DATED 24.08.2023