Kerala High Court
Sankaran vs Naduvannur Regional Co-Operative Bank ... on 16 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
FRIDAY, THE 16TH DAY OF FEBRUARY 2024 / 27TH MAGHA, 1945
WP(C) NO. 40707 OF 2023
PETITIONER:
SANKARAN, AGED 63 YEARS,
S/O.LATE KUNJIRAMAN,
PARAPPIL HOUSE,
NADUVANNUR PO, KOYILANDI,
KOZHIKODE-, PIN - 673614
BY ADVS.K.MOHANAKANNAND.S.THUSHARA
RESPONDENT:
NADUVANNUR REGIONAL CO-OPERATIVE BANK
F.1269,NADUVANNUR PO,
KOYILANDI - REPRESENTED BY ITS SECRETARY,
PIN - 673614
BY ADV P.P.JACOB
BY SRI P P JACOB, SC FOR NADUVANNUR REGIONAL
CO-OPERATIVE BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).40707 of 2023 2
JUDGMENT
The petitioner is stated to have availed an agricultural medium term loan
for a sum of Rs. 5 lakhs from the respondent bank. When default was
committed, arbitration proceeding was initiated as ARC No. 3735/2022 on the
files of the Assistant Registrar, Koyilandi. The suit was allowed, and he was
directed to pay a sum of Rs. 8,55,088/- together with 14% interest, by order
dated 31.10.2022. Challenging the said order, Appeal No. 227/2023 was filed
before the Kerala Co-operative Tribunal, Thiruvananthapuram. The Tribunal, by
an interim order dated 26.08.2023, stayed the operation of the award on the
condition that the petitioner shall remit 20% of the award amount. The
petitioner states that he is an agriculturist and he is suffering from serious
financial crises. It is in the afore circumstances that this writ petition is filed
seeking directions.
2. When this petition is taken up, the learned counsel for the
petitioner submits that the appeal is posted for hearing on 24.02.2024.
3. The learned standing counsel appearing for the Bank opposed the
submissions. He submits that the award was passed on 31.10.2022, and this
writ petition was filed on 04.12.2023. It is stated that the total outstanding as
of date has crossed the sum of Rs. 10 Lakhs. Any delay in passing the award
would cause serious hardship to the bank, submits the learned counsel.
4. Having considered the submissions, I am of the view that ample
time has been granted to the petitioner to comply with the interim order. As it
is submitted that the case is scheduled for 24.02.2024, there will be a direction
to the Tribunal to grant the petitioner time until 24.02.2024 to comply with the
directions. The Tribunal shall endeavor to expedite the disposal of the matter as
it is submitted by the learned counsel for the Bank that the prolonged
proceedings are causing serious hardship to the Bank.
This writ petition is disposed of.
SD/-
RAJA VIJAYARAGHAVAN V,
JUDGE
DCS
APPENDIX OF WP(C) 40707/2023
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE COMMUNICATION SENT BY THE SENIOR
AUDITOR TO THE PETITIONER DATED 13- 9-2021
Exhibit P2 TRUE COPY OF THE AWARD PASSED BY THE ARBITRATOR
DATED 31-10-2022
Exhibit P3 TRUE COPY OF THE APPEAL MEMORANDUM AS APPEAL
227/2023 OF CO-OPERATIVE THIRUVANANTHAPURAM DATED
12-6-2023
Exhibit P4 TRUE COPY OF THE ORDER IN IA 574/2023 IN APPEAL
PETITION 227/2023 DATED 26-8-2023
