Kerala High Court
Bindu Manoj vs The Secretary 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. 3272 OF 2024
PETITIONER:
BINDU MANOJ, AGED 45 YEARS, PALAKKAL HOUSE,
KANJANY, KANJANY POST, THRISSUR DISTRICT,
PIN - 680612
BY ADV RASMI NAIR T.
RESPONDENTS:
1 THE SECRETARY, MANALUR SERVICE CO OPERATIVE BANK LTD
31, P O MANALUR, THRISSUR DISTRICT, PIN - 680617
2 THE ARBITRATOR AND CO OPERATIVE INSPECTOR,
OFFICE OF THE CO OPERATIVE INSPECTOR, AYYANTHOLE P O,
THRISSUR DISTRICT, PIN - 680003
BY ADVS.
SEBY JOSEPH(K/71/1996)
GISON ALIYAS(K/003942/2023)
SRI SHIBIN K F, SC FOR MANALUR SERVICE 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 3272 of 2024 2
JUDGMENT
The petitioner asserts that she obtained a loan of Rs. 10 lakhs from
the 1st respondent Bank, with her immovable property mortgaged as
security. However, due to severe financial crises, she was unable to make
timely repayments. As a result, ARC proceedings were initiated, and Ext.P1
summon notice has been served on the petitioner. Given these
circumstances, the petitioner has filed this writ petition seeking permission
to repay the amount through manageable installments.
2. The learned Standing Counsel appearing for the respondents
submits that the total outstanding as of date due from the petitioner is
about Rs.26,80,097/-. It is submitted that the loan was availed in the year
2017 and that the bank is not averse to granting the petitioner an
opportunity to clear the outstanding. However, he submits that not more
than eight 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.26.80 lakhs to
the 1st 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 her financial obligations to the 1st respondent. This
approach is deemed necessary to provide a structured pathway for the
petitioner to clear off her monetary liabilities in a manageable manner.
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 amounts.
(ii) On receipt of such a statement, the
petitioner shall pay the amounts shown therein
in twelve (12) 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 of any two installments, she
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 she presently stands 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
IAP
APPENDIX OF WP(C) 3272/2024
PETITIONER'S EXHIBITS:
Exhibit1 TRUE COPY OF THE SUMMONS ISSUED BY THE 2ND
RESPONDENT DATED 1/09/2023 IN ARC NO.4564/2023
