Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN FRIDAY, THE25H DAYOF JULY20143RD SRAVANA, 1936 WP(C).No. 18977 of 2014 (V) ---------------------------- PETITIONER: ------------------- SIVASANKARAN M.E., AGED49YEARS, S/O.KUTTAPPAN NAIR, MAMMILI , EDAKKAT HOUSE, PALATH P O, KAKKODI VIA, KOZHIKODE, REPRESENTED BY POWER OF ATTORNEY HOLDER KUTTAPPAN NAIR, S/O.ACHUTHAN NAIR, AGED88YEARS, MAMMILI EDAKKAT HOUSE, PALATH P O, KAKKODI VIA, KOZHIKODE. BY ADVS.SRI.S.ABHILASH SRI.PRATHEESH.P. RESPONDENTS: ------------------------ THE AUTHORISED OFFICER, KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., P V NO503, KALLAI ROAD, CHALAPPURAM P O., KOZHIKODE-673 002. BY ADV. SRI.R.SUDHISH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON2507-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WP(C).No. 18977 of 2014 (V) ------------------------------------------ APPENDIX PETITIONER(S)' EXHIBITS: ---------------------------------------- EXHIBIT P1:A TRUE COPY OF THE NOTICE DTD167/2012. EXHIBIT P2:A TRUE COPY OF THE NOTICE ISSUED U/S134) OF THE SARFAESI ACT DTD193/2013. EXHIBIT P3:-A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENT(S)' EXHIBITS: ------------------------------------------ N I L /TRUE COPY/ P.A.TO JUDGE Kss K. VINOD CHANDRAN, J - - - - - - - - - - - - -- - - - - - - - - - - - - - - - W.P(C).No.18977 of 2014 - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 25th day of July, 2014
JUDGMENT
The petitioner, a defaulter in repaying the loan availed of from the respondent is before this Court challenging the recovery proceedings initiated against him. The liability and the default is admitted and the only contention is against failure to intimate quantification. Considering the facts of the case and the alleged impecunious circumstances of the petitioner, this writ petition is disposed of on the following terms:- (i) The petitioner shall produce a certified copy of this judgment before the respondent within two weeks of receipt of the same. (ii) The respondent shall quantify the amounts due under the various transactions of the petitioner and inform the petitioner in writing the amounts due as on 15.08.2014. (iii) The respondent shall grant 15 monthly instalments for the payment of the balance dues, W.P(C).No.18977 of 2014 :
2. : starting from 25.08.2014 and followed up on the 25th of each succeeding month. (iv) Recovery proceedings shall be kept in abeyance on condition that the remittances as per this order are made without any default. (v) On the petitioner making two consecutive defaults, the recovery steps initiated shall revive and continue. (vi) On the 15th instalment being satisfied, the respondent shall issue a statement of the interest accrued from 15.08.2014 which shall be satisfied by the petitioner on the 25th of the succeeding month. (vii) On the petitioner satisfying the entire arrears, the recovery proceedings shall be unenforceable. Writ Petition is disposed of as above, making it clear that the respondent will be free to proceed with the recovery if the above conditions are not complied with. Sd/- (K. VINOD CHANDRAN, JUDGE) Sbna