Kerala High Court
Mr. Baby Joseph vs Kaduthuruthy Regional Service ... on 15 February, 2024
Author: V Raja Vijayaraghavan
Bench: V Raja Vijayaraghavan
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
THURSDAY, THE 15TH DAY OF FEBRUARY 2024 / 26TH MAGHA, 1945
WP(C) NO. 5004 OF 2024
PETITIONER:
MR. BABY JOSEPH, AGED 64 YEARS, S/O GEORGE,
KULATHUMKALA VEEDU, MADATHIKUNNELAYA, PARAMBRAM,
MUTTUCHIRA , VAIKOM, KOTTAYAM, PIN - 686613
BY ADVS.E.A.BIJUMON,
ANJALY JOSEPH
RESPONDENTS:
1 KADUTHURUTHY REGIONAL SERVICE CO-OPERATIVE BANK
LIMITED- 4061, KADUTHURUTHY, KOTTAYAM
REPRESENTED BY ITS SECRETARY., PIN - 686604
2 SPECIAL SALE OFFICER, KADUTHURUTHY REGIONAL SERVICE
COOPERATIVE BANK LIMITED- 4061,
ASSISTANT REGISTRAR, GENERAL OFFICE,
VAIKKOM, KOTTAYAM., PIN - 686141
BY ADVS.T.R.HARIKUMAR,
ARJUN RAGHAVAN(K/1277/2012)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).No5004 of 2024 2
JUDGMENT
The petitioner availed a loan from the 1st respondent bank for a sum of
Rs. 15 lakhs in the year 2012. He submits that he suffered serious losses in his
business and could not pay the remittances to the bank on time. Arbitration
proceeding was initiated and an award has been obtained. It is contended that
though the petitioner has objection to the manner in which the outstanding
was arrived at by the bank, his request in this petition is only to issue
necessary directions to the bank to permit the petitioner to clear the
outstanding. It is on these assertions that this writ petition is filed seeking
directions.
2. The learned Standing counsel appearing for the respondent
submitted that the total outstanding is Rs.46,39,010/-. It is submitted that the
1st respondent is not averse in granting an opportunity to clear the amount due
in installments. However, he submits that not more than six installments be
granted.
3. Upon careful consideration of the submissions made by both parties,
it is evident that the petitioner owes in excess of Rs. 46 lakhs to the respondent
Bank. The respondents, very fairly, have agreed to permit the petitioner to
settle these debts through a limited number of installments. As a measure of
last resort, I am inclined to issue directions to facilitate the petitioner in
discharging his financial obligations to the 1st respondent. This approach is
deemed necessary to provide a structured pathway for the petitioner to clear
off their monetary liabilities in a manageable manner.
4. Resultantly, this writ petition is ordered, and the following
directions are issued:
(i) The petitioner shall approach the 1st respondent with a
request to inform her of the details of the outstanding
amount together with interest and other charges due
from her in respect of the loan account. If such a
request is made within two weeks from the date of
receipt of a copy of this judgment, the 1st respondent
shall forthwith issue a statement in writing detailing the
amount due to clear the outstanding amount.
(ii) On receipt of such a statement, the petitioner shall pay
the amount shown therein in fifteen (15) equal monthly
installments commencing from 15.3.2024 and continue
to pay the same on every successive month thereafter
until the entire loan is wiped off.
(iii) If the amounts are diligently paid in terms of the
directions above, coercive proceedings initiated against
her by the respondents for the realization of the amount
shall be kept in abeyance.
(iv) It is made clear that if the petitioner commits default in
respect of any two installments, he will lose the benefit
of this judgment, and the concerned respondents will be
free to continue the recovery proceedings against her
from the stage at which they presently stand and
recover the entire amount along with interest and other
charges.
(v) It is further made clear that no application for an
extension of time will be entertained.
SD/-
RAJA VIJAYARAGHAVAN V,
JUDGE
DCS
APPENDIX OF WP(C) 5004/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE AWARD IN A.R.C NO.1045/13, DATED
11.12.2013.
Exhibit P2 TRUE COPY OF THE E.P 216/2014 IN A.R.C NO.1045/13,
DATED 06.12.2014.
Exhibit P3 TRUE COPY OF THE COUNTER AFFIDAVIT OF E.P 216/ 2014
IN A.R.C NO.1045/13, DATED 27.03.2015.
Exhibit P4 TRUE COPY OF THE AUCTION NOTICE AFFIXED BY THE
RESPONDENT BANK, INDICATING THE SCHEDULED AUCTION
DATE AS 26.02.2024.
