K. N Babu vs Padiyotchal Service Co-Operative Bank ...
2024 Latest Caselaw 10479 Ker

Kerala High Court

K. N Babu vs Padiyotchal Service Co-Operative Bank ... on 11 April, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
    THURSDAY, THE 11TH DAY OF APRIL 2024 / 22ND CHAITHRA, 1946
                      WP(C) NO. 13039 OF 2024
PETITIONER:

          K. N BABU
          AGED 67 YEARS
          S/O. K. A NARAYANPILLA, CHERUPUZHA, TALIPARAMBA ,
          KANNUR, PIN - 670511
          BY ADVS.
          SREEKANTH S.NAIR
          SANDEEP P JOHNSON
          NAFEESA P.S.


RESPONDENT:

          PADIYOTCHAL SERVICE CO-OPERATIVE BANK LTD
          CHERUPUZHA, PAYYANNUR, KANNUR, REPRESENTED BY ITS
          MANAGER, PIN - 670511
          BY ADVS.
          MURALIKRISHNAN C
          ABRAHAM GEORGE JACOB(K/003159/1999)
          SHAHNA(K/001380/2023)
          MATHEW ANGELO DAVIS(K/002460/2023)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
11.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 13039 OF 2024

                                        2

                                    JUDGMENT

When this matter was called today, the learned

Standing Counsel for the respondent - Padiyotchal

Service Co-operative Bank Ltd, submitted that the

loan account of the petitioner involved in this

case can be settled for a total amount of

Rs.14,16,548/-, which is the sum outstanding

therein as on 11.04.2024, along with all

applicable charges and interest, provided same is

paid by him in not more than 15 equal monthly

installments.

2. The learned counsel for the petitioners -

Sri.Sreekanth.S.Nair, accepted the afore

suggestion.

3. Taking note of the afore submissions and

in order to obtain a balance between the rival

interests of the parties, I allow this writ

petition, permitting the petitioner to pay off the

aforementioned amount, along with all applicable

charges and interest, in 15 equal monthly

installments commencing from 01.06.2024. WP(C) NO. 13039 OF 2024

Needless to say, if the amounts as afore are

paid by the petitioner, the account will stand

closed and the Padiyotchal Service Co-operative

Bank will return to him all security documents as

are necessary; but, if on the contrary, any two

consecutive instalments are defaulted, the benefit

of this judgment will be lost to him and the Bank

will be at full liberty to pursue further action

pursuant to Ext.P4, without having to obtain any

other order from this Court. It is also needless

to say, therefore, that as long as the amounts as

afore are paid, all further action pursuant to

Ext.P4 will stand deferred.

SD/-

DEVAN RAMACHANDRAN JUDGE Mn WP(C) NO. 13039 OF 2024

APPENDIX OF WP(C) 13039/2024

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF MEDICAL CERTIFICATE DATED 13.02.2023 ISSUED FROM JYOTHI'S EYE CARE CLINIC TO THE PETITIONER.

Exhibit P2 TRUE COPY OF LETTER DATED 27.09.2023 ISSUED FROM JYOTHI'S EYE CARE CLINIC TO THE PETITIONER.

Exhibit P3 TRUE COPY OF LETTER DATED 31.08.2022 ISSUED FROM DR. JOSSY'S HOMOEOPATHY TO THE PETITIONER'S WIFE.

Exhibit P4 TRUE COPY OF NOTICE DATED 11.03.2024 ISSUED BY THE RESPONDENT TO THE PETITIONER. Exhibit P5 TRUE COPY OF THE COMPLAINT DATED 12.03.2024 FILED BEFORE THE LOCAL MLA.

Exhibit P6 TRUE COPY LETTER DATED 20.03.2024 FILED BY THE PETITIONER'S WIFE TO THE ASSISTANT REGISTER CO-OPERATIVE SOCIETY.