Mr. Sajith vs Kaduthuruthy Regional Service ...
2024 Latest Caselaw 5119 Ker

Kerala High Court

Mr. Sajith 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. 4914 OF 2024

PETITIONER:

          MR. SAJITH,
          AGED 52 YEARS,
          S/O GEORGE,
          KULATHUMKALA VEEDU,
          MADATHIKUNNELAYA,
          PARAMBRAM, MUTTUCHIRA ,
          VAIKOM, KOTTAYAM,
          PIN - 686613

          BY ADV E.A.BIJUMON


RESPONDENTS:

          KADUTHURUTHY REGIONAL SERVICE CO-OPERATIVE BANK
          LIMITED- 4061, KADUTHURUTHY,
          KOTTAYAM
          REPRESENTED BY ITS SECRETARY.,
          PIN - 686604

          BY ARJUN RAGHAVAN(K/1277/2012)

          SRI T R HARIKUMAR, SC FOR KADUTHURUTHY REGIONAL
          SERVICE CO-OPERATIVE BANK

     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).No.4914 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.43,49,835/-. 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. 43 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) 4914/2024

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE AWARD IN A.R.C NO.1046/13, DATED 11.12.2013.

Exhibit P2 TRUE COPY OF THE E.P 212/2014 IN A.R.C NO.1046/13, DATED 06.12.2014.

Exhibit P3 : TRUE COPY OF THE COUNTER AFFIDAVIT OF E.P 212/ 2014 IN A.R.C NO.1046/13, DATED 01.06.2015.

Exhibit P4 TRUE COPY OF THE AUCTION NOTICE AFFIXED BY THE RESPONDENT BANK, INDICATING THE SCHEDULED AUCTION DATE AS 26.02.2024 AT 1.30 PM.