Lalitha vs Arbitration And Execution Inspector ...
2024 Latest Caselaw 9963 Ker

Kerala High Court

Lalitha vs Arbitration And Execution Inspector ... on 5 April, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
               THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
         FRIDAY, THE 5TH DAY OF APRIL 2024 / 16TH CHAITHRA, 1946
                          WP(C) NO. 8602 OF 2024
PETITIONER:

              LALITHA
              AGED 62 YEARS
              W/O DAVID, D L BHAVAN, CHEKKADI, POOVAR P.O., THIRUPURAM,
              THIRUVANANTHAPURAM., PIN - 695525.
              BY ADVS.
              M.R.SASITH
              R.K.CHIRUTHA


RESPONDENTS:

     1        ARBITRATION AND EXECUTION INSPECTOR (2)
              INSPECTOR OF COOPERATIVE SOCIETIES (GENERAL), ASSISTANT
              REGISTRAR GENERAL OFFICE NEYYATTINKARA,
              THIRUVANANTHAPURAM., PIN - 695121
     2        THE SECRETARY
              POOVAR SERVICE CO-OPERATIVE BANK LTD NO.3966 PP VI/5,
              SOOLAMKUDY, POOVAR P.O THIRUVANANTHAPURAM., PIN - 695525
              BY ADV R.T.PRADEEP
              BY SMT.C.S.SHEEJA SR.GP.


THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.8602 of 2024
                                        2

                                  JUDGMENT

When this matter was called today, the

learned Standing Counsel for the 2nd respondent -

'Poovar Service Co-operative Bank Ltd.' ("Bank"

for short), submitted that the loan account of

the petitioner involved in this case can be

settled for a total amount of Rs.11,38,689/-, as

on 05.04.2024, along with all applicable charges

and interest, provided same is paid by her in

not more than 12 equal monthly installments.

2. The learned counsel for the petitioner -

Sri.M.R.Sasith, accepted the afore suggestion.

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 12 equal WP(C) NO.8602 of 2024

monthly installments commencing from 15.05.2024.

Needless to say, if the amounts as afore are

paid by the petitioner, the account will stand

closed and the Bank will return to her 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 her and the Bank will be at full

liberty to pursue further action pursuant to

Ext.P1, without having to obtain further orders

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.P1 will stand

deferred.

Sd/-

DEVAN RAMACHANDRAN JUDGE SAS WP(C) NO.8602 of 2024

APPENDIX OF WP(C) 8602/2024

PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE BEFORE SALE DATED 26.02.2024 ISSUED BY THE 1ST RESPONDENT