Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS FRIDAY, THE 20TH DAY OF MAY 2022 / 30TH VAISAKHA, 1944 PETITIONER : HIMA.N.S., AGED 34 YEARS, D/O.SANKARANKUTTY, NJAREKKATTIL HOUSE, ANANTHADAM, MANAKKULANGARA P.O., THRISSUR - 680 684. BY ADVS. C.A.CHACKO C.M.CHARISMA ALEKH THOMAS RESPONDENTS : 1 THE AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., KODAKARA BRANCH, VELLIKULAM ROAD, KODAKARA P.O., THRISSUR - 680 684. 2 THE BRANCH MAANGER, THRISSUR DISTRICT CO-OPERATIVE BANK, KODAKARA, TOWN PLAZA BUILDING, VELLIKULANGARA ROAD, THRISSUR - 680 686. BY SRI.P.C.SASIDHARAN, SC, THRISSUR DISTRICT CO.OPERATIVE BANK LTD. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20.05.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
BECHU KURIAN THOMAS, J.
=-=-=-=-=-=-=-=-=-=-=-= W.P.(C).No.1558 of 2022 =-=-=-=-=-=-=-=-=-=-=-=-= Dated this the 20th day of May, 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 overdue amount in instalments and to obtain regularisation of the loan account.
3. It was submitted on behalf of the respondent bank
that the petitioner committed default in repayment and the overdue amount is Rs.5,30,483/-. 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 overdue amount in limited instalments and regularise the loan account.
4. I have heard Sri.C.A.Chacko, learned counsel for the petitioner as well as Sri.P.C.Sasidharan, 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 overdue amount in '12' instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
6. Accordingly, there will be a direction to the
respondent bank to accept repayment of the entire overdue amount of Rs.5,30,483/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:
i. The overdue amount of Rs.5,30,483/- shall be repaid in '12' equated monthly instalments. ii. The first instalment shall be paid on or before 24.06.2022 and the remaining instalments shall be paid on or before the 24th day of the succeeding months. iii. Petitioner shall continue to pay the regular EMI’s along with the instalments directed above. iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.
v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.
The writ petition is disposed of as above. Sd/- BECHU KURIAN THOMAS, JUDGE RKM APPENDIX OF WP(C) 1558/2022 PETITIONER'S EXHIBITS : Exhibit P1 TRUE COPY OF STATEMENT OF ACCOUNT OF THE PETITIONER ISSUED FORM THRISUSR DISTRICT CO-OPERATIVE BANK. Exhibit P2 TRUE COPY OF NOTICE UNDER SECTION 13(2) ISSUED BY THE 1ST RESPONDENT.