Sasi N K vs Kalladikode Service Co-Operative Bank ...
2024 Latest Caselaw 14592 Ker

Kerala High Court

Sasi N K vs Kalladikode Service Co-Operative Bank ... on 31 May, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
    FRIDAY, THE 31ST DAY OF MAY 2024 / 10TH JYAISHTA, 1946
                      WP(C) NO. 5953 OF 2024
PETITIONER:

         SASI N K
         AGED 52 YEARS
         S/O KUTTAN, NADUKKALAM KIZHAKKEKKARA, KARIMBA P.O,
         PALAKKAD, PIN - 678597.
         BY ADVS.
         NOBLE MATHEW
         KUMARI SANGEETHA S.NAIR
         MANOJ GEORGE
         DEEPA NOBLE


RESPONDENTS:

    1     KALLADIKODE SERVICE CO-OPERATIVE BANK LIMITED
          NO. P-7489, REPRESENTED BY ITS SECRETARY, MANNARKAD
          P.O PALAKKAD, PIN - 678582.
    2     THE ARBITRATOR/SPECIAL OFFICER
          KALLADIKODE SERVICE CO-OPERATIVE BANK LIMITED
          MANNARKAD P.O PALAKKAD, PIN - 678582.
    3     SPECIAL SALES OFFICER
          KALLADIKODE SCB GROUP, OFFICE OF THE ASSISTANT
          REGISTRAR (GENERAL) OF CO-OPERATIVE SOCIETIES,
          MANNARKAD P.O PALAKKAD, PIN - 678582.
          BY ADVS.
          K T THOMAS
          NIKHIL BERNY(K/674/2014)



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.5953/2024
                               ..2..



              DEVAN RAMACHANDRAN, J.
          =========================
                W.P.(C)No.5953 of 2024
         ==========================
          Dated this the 31st day of May, 2024

                         JUDGMENT

When this matter was called today, Sri.K.T.Thomas -

learned Standing Counsel for the "Kalladikode Service Co-

operative Bank Ltd." ('Bank' for short), submitted that, the

total outstanding in the Loan Account of the petitioner, as on

14.05.2024, is Rs.21,73,783/-; and that if he is willing to pay

the same in not more than 24 equal monthly installments, his

client will not stand in the way of this Court disposing of this

writ petition on such terms.

2. Sri.Noble Mathew - learned counsel for the petitioner,

fully agreed to the afore and prayed that this Writ Petition be

thus ordered.

In the afore circumstances, I allow this Writ Petition,

granting liberty to the petitioner to pay the total outstanding

amount in the Loan Account, namely, Rs.21,73,783/- as on

14.05.2024, with all applicable charges and interest, in 24

equal monthly installments commencing from 30.06.2024. If

..3..

this is done, the Bank shall close the loan account and return

the security documents to him, on proper receipt.

Needless to say, as long as the petitioner pays as per the

above directions, all further action pursuant to Ext.P1 will stand

deferred; but if he defaults payment of any two installments as

ordered above, the Bank will be at full liberty to invoke

appropriate remedies for recovery of the total balance amount

as per law, without having to obtain any further orders from

this Court.

Sd/-

DEVAN RAMACHANDRAN, JUDGE

ACR

..4..

APPENDIX OF WP(C) 5953/2024

PETITIONER EXHIBITS Exhibit P-1 A TRUE COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER DATED 10- 01-2024 Exhibit P-2 A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER DATED 02- 02-2024