Writ petition allowing a defaulting loan availing member to repay the outstanding amount with future interest in 18 equal instalments, subject to conditions regarding consecutive default and availability of future settlement schemes.
Permitted the petitioner to repay the loan along with future interest in 18 equal instalments starting from 01.08.2014.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.V.RAMAKRISHNA PILLAI
WEDNESDAY, THE 18TH DAY OF JUNE 2014/28TH JYAISHTA, 1936
WP(C).No. 2491 of 2012 (J)
PETITIONER :
ABDUL NAZAR, S/O. KUNHIPOKKER, ERANHIYIL HOUSE, NEELANCHERI P.O. KANDALAMPADAM, THALIKKAVU, MALAPPURAM DISTRICT.
BY ADV. SRI.K.M.SATHYANATHA MENON
RESPONDENT(S) :
1. THE SECRETARY MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD. PANDIKKAD BRANCH, MALAPPURAM DISTRICT, PIN-676 521.
2. THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD. MALAPPURAM, PIN-676 505.
*3. THE DISTRICT JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES MALAPPURAM, PIN-676 505. (CORRECTED)
*ADDRESS OF R3 IS CORRECTED AS
-----------------------------------------------------THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES MALAPPURAM, PIN-676 505.
*AS PER ORDER DATED 11.6.2014 IN IA NO. 4150/2012.
R1 & R2 BY ADV. SRI.E.S.M.KABEER, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18-06-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Mn
...2/-
WP(C).No. 2491 of 2012 (J)
APPENDIX
PETITIONERS' EXHIBITS :
RESPONDENTS' EXHIBITS : NIL
//TRUE COPY//
P.A. TO JUDGE
Mn
A.V. RAMAKRISHNA PILLAI, J.
W.P.(C) No. 2491 of 2012
-------------------------------------------------Dated this the 18th day of June, 2014
J U D G M E N T
The petitioner, who availed a loan from the respondent bank, could not repay the loan as agreed. Though he went abroad and obtained a job subsequently, he met with an accident; and therefore, he could not repay the amount in time. The petitioner alleges that as per Circular No.41/2011, he is entitled to certain relief in respect of interest as well as penal interest. However, though he submitted an application as evident from Ext.P3 before the 2nd respondent, only a sum of 4,000/- was waived out of the₹ total amount. According to the petitioner, the said decision is unsustainable as against the circular. It is in the context, the petitioner has come up before this Court.
..2..
W.P.(C) No. 2491 of 2012
is not in force; it was submitted. It was also submitted that the petitioner did not repay any instalment subsequent to the settlement under the aforesaid scheme.
Therefore, this writ petition is disposed of permitting the petitioner to repay the loan along with future interest in 18 equal instalments starting from 01.08.2014.
It is hereby made clear that if the petitioner fails in remitting any two instalments consecutively, it shall be open to the respondent bank to proceed against the petitioner.
As the period granted to the petitioner to repay the loan is 18 months, this judgment will not stand in the way of the parties in arriving at one time settlement under any scheme, which becomes available during the aforesaid period.
Sd/-
A.V. RAMAKRISHNA PILLAI, JUDGE
bka/-
1 issue framed by the court
Whether the writ petition can be disposed of by permitting the petitioner to repay the loan along with future interest in 18 equal instalments.
ABDUL NAZAR
THE SECRETARY MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD. PANDIKKAD BRANCH
THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD.
THE DISTRICT JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES MALAPPURAM
A.V. RAMAKRISHNA PILLAI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
