Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN WEDNESDAY, THE 22ND DAY OF MAY 2024 / 1ST JYAISHTA, 1946 WP(C) NO. 37287 OF 2023 PETITIONERS: 1 VENUS, AGED 56 YEARS, S/O KOCHAPPU, AGED 56 YEARS, 2 SHARI, AGED 44 YEARS, W/O VENUS, AGED 44 YEARS, BY ADVS.ARUN CHANDRAN HARIMOHAN ANJALY T.A ASWATHY S MENON RESPONDENTS: 1 THE PULLUR SERVICE COOPERATIVE BANK LIMITED NO. 550 REPRESENTED BY ITS SECRETARY, PULLUR POST OFFICE, 2 THE SPECIAL SALE OFFICER, PULLUR SERVICE COOPERATIVE BANK LIMITED NO. 550, K ALLUR SCB GROUP, OFFICE OF THE ASSISTANT REGISTRAR OF COOPERATIVE SOCIETIES [GENERAL], MUKUNDAPURAM, THRISSUR DISTRICT, PIN - 680733. BY ADV P.C SASIDHARAN, THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22.05.2024, ALONG WITH WP(C).37440/2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -2-
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN WEDNESDAY, THE 22ND DAY OF MAY 2024 / 1ST JYAISHTA, 1946 WP(C) NO. 37440 OF 2023 PETITIONERS: 1 VENUS, AGED 56 YEARS, S/O KOCHAPPU, 2 SHARI, AGED 44 YEARS, W/O VENUS, BY ADVS.ARUN CHANDRAN HARIMOHAN ANJALY T.A ASWATHY S MENON RESPONDENTS: 1 THE PULLUR SERVICE COOPERATIVE BANK LIMITED NO. 550, REPRESENTED BY ITS SECRETARY, PULLUR POST OFFICE, THRISSUR DISTRICT, PIN - 680683. 2 SPECIAL SALE OFFICER, PULLUR SERVICE COOPERATIVE BANK LIMITED NO.550, KALLUR SCB GROUP, OFFICE OF THE ASSISTANT REGISTRAR OF COOPERATIVE SOCIETIES [GENERAL], MUKUNDAPURAM, THRISSUR DISTRICT, PIN - 680733. BY ADV P.C SASIDHARAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22.05.2024, ALONG WITH WP(C).37287/2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -3-
JUDGMENT
[WP(C) Nos.37287/2023, 37440/2023] The petitioners in these two cases are the same, and they seek, inter alia, that the respondent - ‘Pullur Service Co-operative Bank Limited’ (‘Bank’, for short), be directed to allow them to pay off the two loan accounts in installments.
2. Sri.Arun Chandran - learned counsel for
the petitioners, submitted that his clients intend to pay off the entire loan liability, which is manifest from the fact that they have already paid substantially even pending this lis; for which, they are in the process of liquidating one of their properties through a private sale. He thus prayed that either this Court allow his clients to pay off the entire liability in 24 equal monthly instalments; or, in the alternative, they be given liberty to -4- approach the Bank for a One Time Settlement.
3. Sri.P.C.Sasidharan - learned Standing
Counsel for the Bank, however, submitted that this matter has been pending before this Court for nearly seven months and only some amounts have been paid. He pointed out that the total liability in both these cases against the petitioners is an amount of Rs.54,14,641/- as on 22.05.2024; and that they can be allowed 18 installments to pay it off. He added that, in the meanwhile, if the petitioners are able to garner sufficient funds, they can approach the Bank for a full settlement, in which event, all eligible benefits and deductions can be given; however, praying that this may not be affirmatively quantified in this judgment.
4. Sri.Arun Chandran - learned counsel for
the petitioners, acceded to the afore suggestions. -5- In the afore circumstances, with the consent of both sides, I dispose of these Writ Petitions in the following manner:
(a) I grant liberty to the petitioners to pay off the total liability in the two loan accounts involved in these two cases, which is
stated to be a sum of Rs.54,14,641/- (Rupees fifty four lakhs fourteen thousand six hundred and forty one only) as on 22.05.2024, along with all applicable charges and interest, in 18 equal monthly instalments, commencing from 25.06.2024.
(b) Needless to say, if the petitioners continue to pay as afore, all action pursuant to
Exts.P1 and P2 in both cases will stand deferred; but if they default payment of any two installments as ordered above, necessary action pursuant thereto can be taken forward, without having to obtain further orders from this Court.
(c) It goes without saying that, -6- notwithstanding the afore directions, if the petitioners are able to garner sufficient funds in the meanwhile, they will be at liberty to approach the Bank for the closure of the accounts; in which event, all eligible benefits will be considered and granted to them at that time.
Sd/- DEVAN RAMACHANDRAN JUDGE akv -7- APPENDIX OF WP(C) 37440/2023 PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE AWARD PASSED IN ARC NO. 2564/2021 DATED 20.01.2022. EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE ISSUED BY 2ND RESPONDENT SPECIAL SALE OFFICER TO THE PETITIONERS DATED 07.09.2023. -8- APPENDIX OF WP(C) 37287/2023 PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE AWARD PASSED IN ARC NO. 368/2022 DATED 25.02.2022 . EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE ISSUED BY 2ND RESPONDENT SPECIAL SALE OFFICER TO THE PETITIONERS DATED 07.09.2023.