Dismissed

Kunjaisha v. the Palakkad District Co-Operative Bank Limited

Kerala HC16 Aug 2016WP(C)/27010/2016

Case brief

AI extract

What is this about?

Writ petition dismissed on applicant's undertaking to pay outstanding dues and regular installments. Court allowed extended payment in eight equal monthly installments starting 19/09/2016 with accrued interest.

What did the court decide?

Petitioner to pay overdue amount with interest in eight equal monthly instalments starting 19/09/2016 and remit subsequent monthly instalments as per agreed terms.

Kunjaisha Vs the Palakkad District… — 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 MR.JUSTICE A.M.SHAFFIQUE

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TUESDAY, THE 16TH DAY OF AUGUST 2016/25TH SRAVANA, 1938

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WP(C).No. 27010 of 2016 (A)

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PETITIONER(S):

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KUNJAISHA

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W/O. SAIDALAVI, AGED 38 YEARS, NEERANKUZHIYIL HOUSE, KOTTOPADAM P.O., MANNARKAD, PALAKKAD DISTRICT.

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BY ADV. SRI.BINOY VASUDEVAN

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RESPONDENT(S):

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1. THE PALAKKAD DISTRICT CO-OPERATIVE BANK LIMITED, NO.P 521, HEAD OFFICE PB NO. 21,

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H.P.O ROAD, SULTHANPET, PALAKKAD,

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PIN - 678 001, REP. BY ITS AUTHORIZED OFFICER.

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2. THE MANAGER, PALAKKAD DISTRICT CO-OPERATIVE BANK LIMITED, ALANALLUR BRANCH, PALAKKAD DISTRICT.

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BY SRI.M.SASINDRAN, SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16-08-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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msv/

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WP(C).No. 27010 of 2016 (A)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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P1 TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT.

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RESPONDENT(S)' EXHIBITS:

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

NIL

//TRUE COPY//

P.S.TO JUDGE

Msv/

A.M. SHAFFIQUE, J.

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------------------------------------- W.P.(C) No.27010 of 2016

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Dated this the 16^th day of August, 2016

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JUDGMENT

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Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.

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Petitioner had taken a loan for Rs.4.95 lakhs. The petitioner could not repay the monthly instalments in time on account of certain financial difficulties. In the meantime, proceedings had been taken by the respondent Bank under the SARFAESI Act.

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Learned counsel for the petitioner submits that the

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petitioner is ready and willing to pay the outstanding dues in instalments and will also pay the regular instalments, if some time is granted.

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Learned counsel for the respondent Bank submits that the overdue amount as on date would come to

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W.P.(C) No.27010 of 2016

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-2-

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Rs.5,84,101/-.

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Having regard to the fact that the petitioner had

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expressed the willingness to repay the amount in instalments, I am of the view that some indulgence can be shown to the petitioner.

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Accordingly, this writ petition is disposed of as under:

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(i) The petitioner shall pay the overdue amount with accrued interest in eight equal monthly instalments starting from 19/09/2016.

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(ii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments as per the agreed terms.

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(iii) If there is default in payment of any of the aforesaid amounts, it shall be open for the respondent Bank to take such steps in accordance with law.

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Sd/-

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A.M. SHAFFIQUE JUDGE

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Scl/16.08.2016

Kunjaisha v. the Palakkad District Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

Kunjaisha v. the Palakkad District Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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