Kerala High Court
Praveen vs The Kerala State Co-Operative Bank Ltd on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
2024:KER:67933
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946
WP(C) NO. 27008 OF 2024
PETITIONER/S:
PRAVEEN,
AGED 34 YEARS
S/O. UNNIKRISHNAN, PARAMJYOTHI, PANDINJARUTTAYIL,
EYYAL P.O, THRISSUR, PIN - 680501
BY ADVS.
T.D.SUSMITH KUMAR
T.O.DEEPA
GAYATHRI C.H.
JAYKAR.K.S.
C.SIVADAS
RESPONDENT/S:
1 THE KERALA STATE CO-OPERATIVE BANK LTD.,
14 1125A, COMES PLAZA, KECHERY, THRISSUR,
KERALA ,REPRESENTED BY ITS BRANCH MANAGER, PIN -
680501
2 THE AUTHORIZED OFFICER,
THE KERALA STATE CO-OPERATIVE BANK LTD.,
KOVILAKATHUMPADAM, SAHAKARANA SADABDI MANDIRAM,TUDA
ROAD, THIRUVAMBADI ROAD, THRISSUR, PIN - 680010
SRI.P.C SASIDHARAN-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
2024:KER:67933
WP(C) NO. 27008 OF 2024
2
JUDGMENT
The present writ petition has been filed with the following
prayers:-
i) to issue a Writ of Mandamus or any other appropriate
Writ, Order, or Direction directing the Respondents to
allow the Petitioner to pay off the liability, by
scheduling the overdue installments into 20 monthly
equated installments, together with regular
installments, to regularize the loan.
ii) to grant any other reliefs that are prayed for and is
deemed just and proper to grant to secure ends of
justice. iii) to dispense with filing of the translation of
vernacular documents.
2.The petitioner has obtained a personal loan of Rupees
Twenty Five Lakhs from the respondent Bank by creating an
equitable mortgage over his property ad-measuring 0.1012 Hectare
in Re-Survey No. 899/2p of Eyyal Village of Kunnamkulam Village of
Thrissur. The petitioner has committed serious defaults in repaying
the loan amount, and therefore, the Bank after classifying the loan
account as NPA has proceeded under the provisions of the
SARFAESI Act and rules made thereunder.
3.This court has granted indulgence to the petitioner vide
interim order dated 08.08.2024, and in compliance of the said
interim order, the petitioner has deposited Rs.5,00,000/-. As of
today, the total outstanding is Rs.33,27,673/- and the overdue
amount is Rs. 14,70,905/-.
4.The learned counsel for the Bank on instruction submits
2024:KER:67933
WP(C) NO. 27008 OF 2024
that, if the petitioner makes payment of a substantial amount
upfront and the remaining outstanding amount in few installments
along with regular installments as this court may direct, the Bank
shall regularize the loan account of the petitioner for making
payment in terms of the loan agreement.
Considering the aforesaid stand of the Bank, the present
writ petition is disposed of, with the following terms;
1. The petitioner shall pay Rs. 2,00,000/- upfront
amount on or before 07.10.2024 and remaining
outstanding amount in ten equal monthly
installments along with regular installments.
2.First installment as directed is to be paid on or
before 07.11.2024 and remaining nine installments
on or before 7th day of each succeeding month
thereafter.
3.In case of failure to make payment of Rs. 2,00,000/-
or any of the installments as directed above, the
Bank shall be free to proceed against the petitioner,
in accordance with law.
4.After making payment of the entire overdue amount
as directed above, the Bank shall regularize the loan
2024:KER:67933
WP(C) NO. 27008 OF 2024
account of the petitioner for making the payment in
terms of the loan agreement.
With the aforesaid direction, the writ petition is disposed of
as above.
Sd/-
DINESH KUMAR SINGH
JUDGE
SJ
2024:KER:67933
WP(C) NO. 27008 OF 2024
APPENDIX OF WP(C) 27008/2024
PETITIONER EXHIBITS
EXHIBIT P-1 A TRUE COPY OF THE NOTICE DATED 13/03/2023
ISSUED BY THE 2ND RESPONDENT, ALONG WITH
ITS TRUE ENGLISH TRANSLATION
