Kerala High Court
Xavier P T vs The Kodungallur Town Co-Operative Bank ... on 27 March, 2024
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
WEDNESDAY, THE 27TH DAY OF MARCH 2024 / 7TH CHAITHRA, 1946
WP(C) NO. 12602 OF 2024
PETITIONER(S):
XAVIER P T
AGED 50 YEARS
S/O THOMAS, PALLIPATTU HOUSE, PADINJARE VEMBALLUR,
THRISSUR, PIN - 680671
BY ADVS.
ATHUL TOM
MANASI MURALIDHARAN
RESPONDENT(S):
1 THE KODUNGALLUR TOWN CO-OPERATIVE BANK LTD
KODUNGALLUR P O, THRISSUR DISTRICT,THROUGH ITS AUTHORISED
OFFICER., PIN - 680101
2 THE AUTHORISED OFFICER
THE KODUNGALLUR TOWN CO-OPERATIVE BANK LTD , KODUNGALLUR
P O, THRISSUR DISTRICT, PIN - 680101
SRI.V.M.KRISHNAKUMAR-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 12602 OF 2024
2
JUDGMENT
When this matter was called today,
Sri.V.M.Krishnakumar - the learned Standing
Counsel for the respondent - Kodungallur Town
Co-opertive Bank, submitted that the loan
account of the petitioner involved in this case
can be settled for a total amount of
Rs.20,71,400/-, as on 27.03.2024, along with all
applicable charges and interest, provided same
is paid by him in not more than 12 equal monthly
installments. He added that he is making this
offer notwithstanding the fact that the
petitioner has already obtained Ext.P1 judgment,
wherein, he was allowed to pay off the overdue,
but has not been able to do so. He concluded
saying that, therefore, this may be seen only as
indulgence not the recognition of any right in
favour of the petitioner.
WP(C) NO. 12602 OF 2024
2. The learned counsel for the petitioner -
Sri.Athul Tom, accepted the afore suggestion;
but prayed that the number of EMIs be enhanced
to at least 15.
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 not more
than 15 equal monthly installments commencing
from 27.04.2024.
Needless to say, if the amounts as afore are
paid by the petitioner, the account will stand
closed and the respondent- Bank will return to
him all security documents as are necessary;
but, if on the contrary, any two consecutive
instalments are defaulted, the benefit of this
WP(C) NO. 12602 OF 2024
judgment will be lost to him and the Bank will
be at full liberty to pursue further action
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 will stand deferred.
After I dictated this part of the judgment,
Sri.Athul Tom intervened to say that, in fact,
as per Ext.P1 judgment, his client has paid more
than Rs.26,00,000/-, but that the overdue is
still stated to be Rs.20,71,400/- as recorded
above. He submitted that, therefore, his client
may be permitted to approach the Bank for a
settlement of the accounts, after he pays a
minimum of 10 EMIs as per the afore orders.
I certainly find this request to be tenable
because, if there is any dispute as to the
WP(C) NO. 12602 OF 2024
credit of the payments made in the account, the
petitioner has a right in law to have it
rectified.
Therefore, in addition to the afore
directions, I permit the petitioner to approach
the Bank after 10 installments as the afore is
paid, seeking reconciliation of the account
based on all relevant documents; in which event,
its competent Authority will do so and inform
him appropriately before the 11th installment
becomes due.
Sd/-
DEVAN RAMACHANDRAN
JUDGE
SAS
WP(C) NO. 12602 OF 2024
APPENDIX OF WP(C) 12602/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE JUDGEMENT IN WP(C) 38849 OF
2022 DATED 1.12.2022 ISSUED BY THIS HONORABLE
COURT
Exhibit P2 A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 27.02.2023 REMITTING AN
AMOUNT OF RS.6,00,000/-
Exhibit P2(a) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 30.03.2023 REMITTING AN
AMOUNT OF RS.2,00,000/-
Exhibit P2(b) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 14.09.2023 REMITTING AN
AMOUNT OF RS.5,20,000/-
Exhibit P2(c) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 30.11.2023 REMITTING AN
AMOUNT OF RS.3,00,000/-
Exhibit P2(d) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 30.12.2023 REMITTING AN
AMOUNT OF RS.5,00,000/-
Exhibit P2(e) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 25.01.2024 REMITTING AN
AMOUNT OF RS.2,00,000/-
Exhibit P2(f) A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST
RESPONDENT DATED 14.02.2024 REMITTING AN
AMOUNT OF RS.3,00,000/-
