Kerala High Court
Mani vs Valappad Service Co- Operative Bank on 30 October, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
2024:KER:81002
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
WEDNESDAY, THE 30TH DAY OF OCTOBER 2024 / 8TH KARTHIKA, 1946
WP(C) NO. 29149 OF 2024
PETITIONER:
MANI, AGED 61 YEARS
S/O KOCHUMON, KOZHISSERY HOUSE,
PALLIPURAM, VALAPPAD BEACH, VALAPPAD P.O,
THRISSUR DISTRICT, PIN - 680567
BY ADVS.
MAHESH V.MENON
RAJITHA V.K
RESPONDENTS:
1 VALAPPAD SERVICE CO- OPERATIVE BANK
VALAPPAD P.O., REPRESENTED BY ITS SECRETARY,
PIN - 680567
2 A & E INSPECTOR
ASSISTANT REGISTRAR (GENERAL) OFFICE,
CHAVAKKAD, THRISSUR DISTRICT
BY ADV P.C SASIDHARAN
SMT.MABLE C. KURIAN, SENIOR GOVERNMENT PLEADER
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 30.10.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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WP(C) No.29149 of 2024
2
JUDGMENT
Dated this the 30th day of October, 2024
The petitioner, who has taken a loan from the
1st respondent-Bank, has approached this Court seeking to
direct the 1st respondent to permit the petitioner to clear the
outstanding liabilities in 30 equal monthly instalments.
2. Standing Counsel entered appearance on
behalf of the Bank and resisted the writ petition. The Standing
Counsel submitted that a loan of ₹6 lakhs was taken by the
petitioner in the year 2017. When the petitioner failed to
maintain the loan account, Ext.R1(a) ARC proceedings were
initiated. The property mortgaged by the petitioner was put for
sale on 22.07.2024 as is evidenced from Ext.R1(c) and the
Bank has purchased the property. The mortgaged property of
the petitioner is a Non-Banking Asset of the Bank now.
3. Standing Counsel submitted that the liability
towards the loan account as on 30.10.2024 is ₹10,07,791/-. If
2024:KER:81002
the petitioner remits the entire amount to the Bank, the question
of reconveying the property to the petitioner can be considered.
4. I have heard the learned counsel for the
petitioner and the learned Standing Counsel representing the
Bank.
5. Pursuant to the interim order passed by this
Court on 19.08.2024, the petitioner has remitted an amount of
₹2 lakhs with the Bank. The Standing Counsel submits that the
said amount has been kept in a Suspense Account. The
amount payable by the petitioner for getting back his property is
₹10,07,791/-.
6. Taking into consideration the facts of the case,
I am inclined to grant the petitioner a breathing time to pay the
amounts in instalments.
7. The writ petition is disposed of with the
following directions:
(i) The petitioner shall make a request to
the Bank seeking to accept ₹2 lakhs already
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deposited towards the liabilities in respect of
the property.
(ii) The balance amount due to the Bank
along with accruing interest and other Bank
charges, if any, shall be paid in six equal and
consecutive monthly instalments. The first of
such instalments shall be paid within a period
of one month from today.
(iii) If the petitioner fails to make the
payment as directed above, the Bank will be at
liberty to deal with the property in accordance
with law.
Sd/-
N.NAGARESH
JUDGE
spk
2024:KER:81002
APPENDIX OF WP(C) 29149/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF ATTACHMENT NOTICE DATED
17.05.2024 ISSUED BY THE 2ND RESPONDENT
Exhibit P2 A TRUE COPY OF SALE NOTICE ISSUED BY
THE 2ND RESPONDENT DATED NIL
Exhibit P3 A TRUE COPY OF NOTICE DATED 22.07.2024
RESPONDENTS' EXHIBITS
EXHIBIT R1(A) A TRUE COPY OF THE AWARD IN ARC
820/2022 DATED 22.07.2022
EXHIBIT R1(B) A TRUE COPY OF THE POSTAL RECEIPT
EVIDENCING THE ACKNOWLEDGMENT
EXHIBIT R1(C) A TRUE COPY OF THE SALE DIARY IN EP
