Disposed

Sabu Joseph v. Idukki District Co-Operative Bank Ltd.

Kerala HC4 Mar 2016WA/465/2016

Case brief

AI extract

What is this about?

This writ appeal was filed against a judgment permitting the appellant to repay a default loan in equal monthly installments. The High Court upheld the lower court's equitable relief but extended the deadline for the first installment by one month.

What did the court decide?

Granted extension of time for depositing the first installment until 24.3.2016; appeal disposed of.

Sabu Joseph Vs Idukki District Co-Operative… — Contract and Commercial Disputes | Kerala HC (2016)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE THE CHIEF JUSTICE MR.ASHOK BHUSHAN

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THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE

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FRIDAY, THE 4TH DAY OF MARCH 2016/14TH PHALGUNA, 1937

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WA.No. 465 of 2016 IN WP(C).5426/2016

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AGAINST THE JUDGMENT IN WP(C) 5426/2016 DATED 12-02-2016

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APPELLANT/PETITIONER :

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SABU JOSEPH AGED 48 YEARS

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S/O.JOSEPH, VEZHAMBASSERIL HOUSE, UPPUTHODE PO UDUMBANCHOLA, IDUKKI-685 604.

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BY ADV. SRI.T.RAJESH

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RESPONDENT/RESPONDENT :

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IDUKKI DISTRICT CO-OPERATIVE BANK LTD.

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HEAD OFFICE IDUKKI, IDUKKI COLONY PO, IDUKKI-685 602 REPRESENTED BY ITS AUTHORIZED OFFICER.

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R1 BY ADV. SRI.P.C.CHACKO, SC, IDUKKI DIST CO-OP BANK

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THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 04-03-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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ASHOK BHUSHAN, C.J & A.M.SHAFFIQUE, J

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= = = = = = = = = = = = = = = = = W.A No.465 of 2016

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= = = = = = = = = = = = = = = = = = Dated this the 4^th day of March, 2016

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JUDGMENT

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Ashok Bhushan, CJ

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This writ appeal has been filed against the judgment dated 12.2.2016 in W.P(C) No.5426 of 2016. The appellant defaulted in repayment of the loan. Consequently, proceedings were initiated under the SARFAESI Act, 2002 by issuance of notification under

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Section 13(2).

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The learned Single Judge disposed of the writ petition permitting the petitioner to deposit the outstanding amount in 6 equal and successive monthly installments commencing from 24.2.2016. Learned counsel for the appellant submits that the learned Single Judge ought to have granted more installments to clear the amount. Learned counsel for the bank submits that the appellant has not even

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paid the first installment which was to be paid by 24.2.2016.

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-:2:-

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WA.465/16

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The learned Single Judge has exercised his jurisdiction in

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granting an equitable relief to the petitioner which does not warrant any interference by this Court in exercise of the appellate

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jurisdiction. We, however, while disposing of this appeal, extend the time for depositing the first installment by 24.3.2016.

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Writ appeal is disposed of accordingly.

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ASHOK BHUSHAN CHIEF JUSTICE

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A.M.SHAFFIQUE JUDGE

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krj.4/3/16

Sabu Joseph v. Idukki District Co-Operative Bank Ltd.

Case brief

What is this about?

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Sabu Joseph v. Idukki District Co-Operative Bank Ltd.

Case brief

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