Allowed

Asokan.K.K v. the Kanjirappally C0-OPERATIVE Agricultural and Rural Development Bank

Kerala HC5 Aug 2016WP(C)/19163/2016

Case brief

AI extract

What is this about?

The High Court permitted petitioners in default on a housing loan to repay the outstanding amount in eight monthly installments, directing the bank to provide account statements and treat the petitioners sympathetically.

What did the court decide?

Petitioners permitted to pay outstanding dues in eight monthly installments starting 25.08.2016; Bank directed to furnish account statement.

Asokan.K.K Vs the Kanjirappally C0-OPERATIVE Agricultural… — Consumer Protection | 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 MR. JUSTICE SHAJI P.CHALY

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FRIDAY, THE 5TH DAY OF AUGUST 2016/14TH SRAVANA, 1938

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WP(C).No. 19163 of 2016 (U) ----------------------------

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PETITIONER(S):

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1. ASOKAN.K.K KALLOLIL HOUSE, PONKUNNAM P.O., CHIRAKADAVU, KOTTAYAM.

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2. MANJUSHA MOHAN W/O. ASOKAN K.K., KALLOLIL HOUSE, PONKUNNAM P.O., CHIRAKADAVU, KOTTAYAM.

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BY ADV. SRI.S.MANU

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RESPONDENT(S):

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1. THE KANJIRAPPALLY C0-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK NO. K1120, REPRESENTED BY ITS SECRETARY, KANJIRAPALLY P.O., PIN-686507, KOTTAYAM DISTRICT.

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2. THE SPECIAL SALE OFFICER, KANJIRAPPALLY C0-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK, KANJIRAPALLY P.O., PIN-686507, KOTTAYAM DISTRICT.

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3. THE BRANCH MANAGER KANJIRAPPALLY C0-OPERATIVE AGRICULTURAL

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AND RURAL DEVELOPMENT BANK, KANJIRAPALLY BRANCH, KANJIRAPALLY P.O., PIN-686507, KOTTAYAM DISTRICT.

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BY ADVS. SRI.SUNIL CYRIAC, SC,

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 05-08-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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K.V.

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WP(C).No. 19163 of 2016 (U)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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----------------------P1 TRUE COPY OF THE NOTICE ISSUED TO THE PETITIONERS DATED 3-5-2016.

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P2 TRUE COPY OF THE ADVERTISEMENT APPEARED IN MALAYALA MANORAMA DAILY DATED 21-5-2016.

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RESPONDENT(S)' EXHIBITS NIL

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-----------------------

/TRUE COPY/

P.S.TO.JUDGE

K.V.

SHAJI P. CHALY, J

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W.P.(C)NO.19163 OF 2016

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Dated this the 5^th day of August, 2016

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J U D G M E N T

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Petitioners have availed a housing loan of Rs.12,00,000/- (Rupees twelve lakhs only) in July 2014 for a term of 20 years, by mortgaging an extent of 8.09 Ares of property and residential house situated in Survey No.70/8/2 of Chirakkadavu Village. Even though, the subject matter of challenge in the writ petition is also in respect of a cash credit loan, pursuant to an interim order passed by this court on 03.06.2016, directing the petitioner to clear the cash credit loan account, same was complied with as affirmed by the learned counsel appearing for the first respondent bank. So far as the housing loan is concerned, petitioners have defaulted the same and consequent to which bank has initiated action as per Ext.P1 sale notice and Ext.P2 publication for sale. According to the counsel for the petitioners, an

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W.P.(C)NO.19163 OF 2016 2

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amount of Rs.3,48,182/- (Rupees three lakhs forty eight thousand one hundred and eighty two only) is outstanding towards over due installments of the loan and the petitioners expressed their intention to remit the same in reasonable installments. Learned counsel appearing for the first respondent bank did not oppose the inclination of repayment put forth by the petitioners, even though, submitted that petitioners may be directed to pay the said amount in one lump.

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Taking into account the rival submissions made across the bar, I am satisfied that petitioners can be permitted to pay the outstanding over due amounts in eight monthly installments starting from 25.08.2016 and on the same day of the successive months. Petitioners are directed to make an application to regularise the loan transaction along with the 1^st installment and the 1^st respondent shall take a decision sympathetically and in accordance with law at the earliest. Needless to say, if any of the installments is defaulted by the petitioners, bank will

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W.P.(C)NO.19163 OF 2016

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be at liberty to resurrect the coercive action and recover the amount. In order to enable the petitioners to pay the amount in equated installments, bank shall furnish a statement of accounts to the petitioners

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within two weeks from today.

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Writ petition is disposed of accordingly.

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sd/-

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SHAJI P. CHALY, JUDGE

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R.AV

Asokan.K.K v. the Kanjirappally C0-OPERATIVE Agricultural and Rural Development Bank

Case brief

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Asokan.K.K v. the Kanjirappally C0-OPERATIVE Agricultural and Rural Development Bank

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