Shanto Devassy vs Alwaye Urban Co-Operative Bank Ltd

Type Court Judgment Court Kerala Decided Mar 24, 2022

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https://sooperkanoon.com/case/1439832

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Citation: sooperkanoon.com/1439832
Court: Kerala High Court
Judge: Honourable Mr. Justice Bechu Kurian Thomas
Decided On: Mar 24, 2022
Case Number: WP(C)/109/2022

Parties & Advocates

Appellant / Petitioner

Shanto Devassy

Respondent

Alwaye Urban Co-Operative Bank Ltd

Excerpt

.....andthe situation now prevailing, apart from the submissions made as recorded above, i am of the view that the petitioner can be granted an opportunity to repay the total outstanding amount in ‘2’ instalments.6. accordingly, there will be a direction to the respondent bank to accept repayment of the total outstanding amount of rs.19,92,690/- from the petitioner on the following conditions:(i) the total outstanding amount of rs.19,92,690/- shall be repaid in ‘2’ equated monthly instalments.(ii) the first instalment of rs.2,00,000/- (rupees two lakhs only) shall be paid on or before -:4:-(iii) in the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.(iv) in order to enable the petitioner to repay theentire amounts, all coercive proceedings against the petitioner shall be kept in abeyance. the writ petition is disposed of as above. sd/- bechu kurian thomas judge ajm -:5:- appendix of wp(c) 109/2022 petitioner’s exhibits : exhibit p1 true copy of the letter issued by the respondent bank on 27.12.2017 sanctioning loan of rs.14 lakhs. exhibit p2 true copy of the letter dated 14.5.2021 issued by the 2nd respondent. exhibit p3 true copy of loan account statement of the petitioner issued by the bank. exhibit p4 true copy of the possession notice issued by the 3rd respondent on 29.12.2021. exhibit p5 true copy of the request dated 3.12.2022 submitted by the petitioner. respondent’s exhibits : nil ajm //true copy// pa to judge

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS WEDNESDAY, THE 30TH DAY OF MARCH 2022 / 9TH CHAITHRA, 1944 PETITIONER: SHANTO DEVASSY AGED 42 YEARS S/O. M.O.DEVASSY, 'MANAVALAN', ERUMATHALA, CHUNANGAMVELY P.O., ERNAKULAM-683 112 BY ADVS. S.SUJIN T.N.GIRIJA NITA.N.S. RESPONDENTS: 1 ALWAYE URBAN CO-OPERATIVE BANK LTD REPRESENTED BY THE SECRETARY, MARKET ROAD, ALUVA-683 2 MANAGER, ALWAYE URBAN CO OPERATIVE BANK LTD, CHUNANGAMVELI BRANCH, CHUNANGAMVELI-683 112 3 AUTHORISED OFFICER, THE ALWAYE URBAN CO OPERATIVE BAN LTD, HEAD OFFICE, ALUVA-683 101 BY ADVS. R.LEELA K.K.ANIL KUMAR M.SREELAKSHMI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -:2:-
BECHU KURIAN THOMAS, J.
----------------------------------------- W.P.(C) No. 109 of 2022 ---------------------------------------- Dated this the 30th day of March, 2022

JUDGMENT

Petitioner as borrower from the respondent bank, has committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the total outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the total outstanding amount is Rs.19,92,690/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the total outstanding amount in limited instalments. -:3:-

4. I have heard Sri.Sujin S., the learned counsel for the petitioner as well as Smt.Leela.R, the learned Standing Counsel for the respondents.

5. Having regard to the circumstances of the case and

the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the total outstanding amount in ‘2’ instalments.

6. Accordingly, there will be a direction to the respondent bank to accept repayment of the total outstanding amount of Rs.19,92,690/- from the petitioner on the following conditions:

(i) The total outstanding amount of Rs.19,92,690/- shall be repaid in ‘2’ equated monthly instalments.

(ii) The first instalment of Rs.2,00,000/- (Rupees two lakhs only) shall be paid on or before -:4:-

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(iv) In order to enable the petitioner to repay the

entire amounts, all coercive proceedings against the petitioner shall be kept in abeyance. The writ petition is disposed of as above. Sd/- BECHU KURIAN THOMAS JUDGE AJM -:5:- APPENDIX OF WP(C) 109/2022 PETITIONER’S EXHIBITS : Exhibit P1 TRUE COPY OF THE LETTER ISSUED BY THE RESPONDENT BANK ON 27.12.2017 SANCTIONING LOAN OF RS.14 LAKHS. Exhibit P2 TRUE COPY OF THE LETTER DATED 14.5.2021 ISSUED BY THE 2ND RESPONDENT. Exhibit P3 TRUE COPY OF LOAN ACCOUNT STATEMENT OF THE PETITIONER ISSUED BY THE BANK. Exhibit P4 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 3RD RESPONDENT ON 29.12.2021. Exhibit P5 TRUE COPY OF THE REQUEST DATED 3.12.2022 SUBMITTED BY THE PETITIONER. RESPONDENT’S EXHIBITS : NIL AJM //TRUE COPY// PA TO JUDGE

Same Court & Year Kerala · 2022 Same Parties Shanto Devassy vs Alwaye Urban Co-Operative Bank Ltd Same Judge Honourable Mr. Justice Bechu Kurian Thomas