Disposed

Sunil v. Vellanikkara Service Co-Operative Bank, NO.545

Kerala HC11 Dec 2017WP(C)/36986/2017

Case brief

AI extract

What is this about?

Petitioners sought writ relief against recovery demand notices issued for their loan accounts. The Court, in the absence of the respondents, directed the petitioners to pay the outstanding dues in ten equal monthly instalments and ordered the bank to keep all recovery proceedings in abeyance pending such payments.

What did the court decide?

Borrowers directed to pay outstanding amount in ten equal monthly instalments; Bank ordered to keep recovery proceedings in abeyance pending payments.

Sunil Vs Vellanikkara Service Co-Operative Bank, NO.545 — Banking and Recovery | Kerala HC (2017)

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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 ANIL K.NARENDRAN

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MONDAY, THE 11TH DAY OF DECEMBER 2017/20TH AGRAHAYANA, 1939

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WP(C).No. 36986 of 2017 (W)

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PETITIONER(S):

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1. SUNIL,

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AGED 50 YEARS,S/O.KRISHNAN,MANAKKAVALAPPIL HOUSE,

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VELLANIKKARA.P.O,THRISSUR-680654.

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2. DEVAKI,

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AGED 77 YEARS,W/O.KRISHNAN,MANAKKAVALAPPIL HOUSE,

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VELLANIKKARA.P.O,THRISSUR-680654.

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BY ADV. SRI.V.A.VINOD

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RESPONDENT(S):

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1. VELLANIKKARA SERVICE CO-OPERATIVE BANK, NO.545,VELLANIKKARA,THRISSUR-680654,

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REP; BY ITS AUTHORIZED OFFICER.

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2. SPECIAL SALE OFFICER, KUTTANELLUR SCB GROUP,OFFICE OF THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES(GENERAL),

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AYYANTHOLE,THRISSUR-680003.

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R2 BY GOVERNMENT PLEADER SMT. MABLE C. KURIAN

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD

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ON 11-12-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sdr/-

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WP(C).No. 36986 of 2017 (W)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE DEMAND NOTICE DATED 10.11.2017 IN RESPECT OF 1ST PETITIONER LOAN ACCOUNT

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EXHIBIT P2 TRUE COPY OF THE DEMAND NOTICE DATED 10.11.2017 IN RESPECT OF 2ND PETITIONER LOAN ACCOUNT.

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RESPONDENT(S)' EXHIBITS NIL

/TRUE COPY/

PA TO JUDGE

sdr/-

ANIL K. NARENDRAN, J.

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W.P(C) No.36986 of 2017

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Dated this the 11^th day of December, 2017

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J U D G M E N T

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The petitioners, who availed two loans from the first respondent Bank in the year 2010 as loan account Nos.GM 2947 and GM 2946 respectively by mortgaging properties in their respective names, are before this Court in this writ petition filed under Article 226 of the Constitution of India, seeking a writ of certiorari to quash Exts.P1 and P2 demand notices dated 10.11.2017 issued by the first respondent Bank and for a writ of mandamus commanding the first respondent Bank to give reasonable instalments for clearing the amount due.

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On 17.11.2017, when this writ petition came up for admission, this Court issued urgent notice by speed post to the respondents, returnable within three weeks.

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Heard the learned counsel for the petitioners. Despite service of notice, none appeared for the respondents.

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The amount demanded in Exts.P1 and P2 demand notices dated 10.11.2017 is in respect of loan Nos.GM 2947 and

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W.P(C) No.36986 of 2017 :-2-:

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GM 2946 availed by the petitioners. As per Exts.P1 and P2 the amount outstanding as on 10.11.2017 comes to 5,22,081/- in₹ each loan account, together with interest at the agreed rate. The learned counsel for the petitioners submits that the petitioners may be given a reasonable opportunity to pay off the entire amount outstanding in respect of the said loan transactions, in monthly instalments.

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After considering the submission made by the learned counsel for the petitioners, this writ petition is disposed of with the following directions.

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i) The petitioners shall pay off the entire amount outstanding, in respect of Exts.P1 and P2 demand notices, in ten equal monthly instalments commencing from 29.12.2017 and the subsequent instalments payable on or before 29^th day of the succeeding months.

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ii) If the petitioners are remitting the aforesaid instalments in time, the respondent Bank shall keep in abeyance all recovery proceedings pursuant to Exts.P1 and P2, so as to enable the petitioners to pay off the entire dues in ten monthly instalments.

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iii) However, in case of any default committed by the petitioners in remitting any one of the aforesaid

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W.P(C) No.36986 of 2017 :-3-:

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instalments, the respondent Bank will be free to proceed further with Exts.P1 and P2.

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Sd/- ANIL K. NARENDRAN JUDGE

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//True Copy//

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P.A to Judge

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Sunil v. Vellanikkara Service Co-Operative Bank, NO.545

Case brief

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What did the court decide?

Sunil v. Vellanikkara Service Co-Operative Bank, NO.545

Case brief

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