Vishvankutty Achari vs Service Co-Operative Bank Ltd
2024 Latest Caselaw 9965 Ker

Kerala High Court

Vishvankutty Achari vs Service Co-Operative Bank Ltd 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. 8532 OF 2024
PETITIONER:

              VISHVANKUTTY ACHARI
              AGED 58 YEARS
              S/O VELAYUDHAN ACHARI, VALIYA VILA, PUTHENVEEDU, SOUTH
              MYNAGAPPALLY, KUNNATHOOR, KOLLAM., PIN - 690519
              BY ADV K.VINAYA


RESPONDENTS:

     1        SERVICE CO-OPERATIVE BANK LTD
              NO.Q 69, MYNAGAPPALLY, KARUNAGAPPALLY, KOLLAM,
              REPRESENTED BY ITS SECRETARY, PIN - 690519
     2        THE SPECIAL SALE OFFICER
              MYNAGAPPALLY SCB GROUP, ASSISTANT REGISTRAR ( GENERAL),
              SASTHAMCOTTAH, KOLLAM, PIN - 690521
              BY ADVS.
              K.SIJU SC (R1 & R2)
              ANJANA KANNATH(K/939/2014)


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.8532 OF 2024
                                          2

                                    JUDGMENT

When this matter was called today, the

learned Standing Counsel for the 1st respondent -

'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.29,35,365/-, as on

30.03.2024, along with all applicable charges and

interest, provided same is paid by him in not

more than 20 equal monthly installments.

2. The learned counsel for the petitioner -

Smt.K.Vinaya, 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 20 equal

monthly installments commencing from 15.05.2024. WP(C) NO.8532 OF 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 him all

security documents as are necessary; but, if on

the contrary, any two 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.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.8532 OF 2024

APPENDIX OF WP(C) 8532/2024

PETITIONER'S EXHIBITS:

Exhibit P1 TRUE COPY OF THE AUCTION NOTICE IN EP NO:

18/2023 DATED 15/01/2024