Allowed

V.N.Ramanadhan v. Thottippal Service Co-Operative Society Limited No. 634

Kerala HC21 Feb 2018WP(C)/1521/2018

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed by a loan defaulting member of a cooperative society. The court directed the respondent to allow the petitioner to clear the outstanding dues of Rs. 8,87,276 in ten equal monthly installments starting from March 2, 2018. If the repayments are made on time without default, all recovery proceedings must remain in abeyance. Any subsequent default empow

What did the court decide?

The petitioner is directed to pay the outstanding balance of Rs. 8,87,276 along with future interest in ten equal monthly installments starting from 02.03.2018, with recovery proceedings kept in abeya

V.N.Ramanadhan Vs Thottippal Service Co-Operative… — Banking and Recovery | Kerala HC (2018)

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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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WEDNESDAY, THE 21ST DAY OF FEBRUARY 2018 / 2ND PHALGUNA, 1939

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WP(C).No. 1521 of 2018

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PETITIONER:

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V.N. RAMANADHAN S/O.NARAYANAN, AGED 58 YEARS, VATTEKKAT HOUSE, THOTTIPPAL P.O., THOTTIPPAL VILLAGE, MUKUNDAPURAM TALUK, THRISSUR DISTRICT.

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BY ADV.SRI.P.M.ZIRAJ

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RESPONDENT(S):

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1. THOTTIPPAL SERVICE CO-OPERATIVE SOCIETY LIMITED NO. 634, THOTTIPPAL, THRISSUR DISTRICT-680310, REPRESENTED BY ITS MANAGER. 2. THE MANAGER, THOTTIPPAL SERVICE CO-OPERATIVE SOCIETY LIMITED NO. 634, THOTTIPPAL, THRISSUR DISTRICT-680310. 3. THE SALE OFFICER, THOTTIPPAL SERVICE CO-OPERATIVE SOCIETY LIMITED NO. 634, THOTTIPPAL, THRISSUR DISTRICT-680310. 4. ASSISTANT REGISTRAR (GENERAL) THOTTIPPAL SERVICE CO-OPERATIVE SOCIETY LIMITED NO.634, THOTTIPPAL, THRISSUR DISTRICT-680310. R1 & R2 BY ADVS. SRI.K.S.ARUN KUMAR SRI.JUSTINE JACOB SMT.RESMI THOMAS SRI.P.S.SAJEESH R3 & R4 BY SENIOR GOVERNMENT PLEADER SRI.K.P. HARISH

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21-02-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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mbr/

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WP(C).No. 1521 of 2018 (M)

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APPENDIX

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PETITIONERS' EXHIBITS: ---------------------EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 11-1-2018 ISSUED BY THE THIRD RESPONDENT TO THE PETITIONER. EXHIBIT P2 TRUE COPY OF THE REPRESENTATION DATED 11-1-2018 SUBMITTED BY THE PETITIONER BEFORE THE SECOND RESPONDENT. RESPONDENTS' EXHIBITS: NIL ---------------------/TRUE COPY/

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P.S.TO JUDGE

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mbr/ 24.2.2018.

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ANIL K.NARENDRAN, J.

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----------------------------------------------- W.P.(C).No.1521 of 2018

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Dated this the 21^st day of February, 2018

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J U D G M E N T

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The petitioner, who availed a loan from the 1^st respondent Bank in the year 2015, has approached this Court in this writ petition filed under Article 226 of the Constitution of India, seeking a writ of mandamus commanding the respondents to permit him to pay off the amount covered by Ext.P1 demand notice dated 11.01.2018 in 24 equal monthly installments. The petitioner has also sought for other consequential reliefs.

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On 16.01.2018, when this writ petition came up for admission, this Court issued urgent notice on admission by speed post to the respondents returnable within three weeks. This Court has also granted an interim stay of all further proceedings pursuant to Ext.P1 demand notice for a period of one month, on condition that the petitioner deposits a sum of 50,000/- within two weeks. ₹

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Heard the learned counsel for the petitioner, the learned counsel appearing for respondents 1 and 2 and also the learned counsel appearing for respondents 3 and 4.

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The learned counsel for the petitioner would submit that in terms of the interim order of this Court dated 16.01.2018, the petitioner has already deposited the sum of 50,000/- and that, for₹ remitting the balance amount, he requires a reasonable time.

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W.P.(C).No.1521 of 2018

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The learned counsel appearing for respondents 1 and 2 would submit that the total amount outstanding as on date, after deducting 50,000/- paid by the petitioner in terms of the interim₹ order of this Court dated 16.01.2018, comes to 8,87,276/- and that,₹ the 1^st respondent Bank has no objection in this Court granting the petitioner a reasonable time to pay off the entire dues in monthly installments.

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Having considered the submissions made by the learned counsel on both sides, this writ petition is disposed of with the following directions :

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The petitioner shall pay off the entire balance amount outstanding amounting to 8,87,276/-₹ covered by Ext.P1 demand notice, along with future interest, in ten equal monthly installments commencing from 02.03.2018 and the subsequent installments payable on or before the 2^nd day of the succeeding months.

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If the petitioner is remitting the aforesaid installments in time, without any default, all recovery proceedings pursuant to Exts.P1 shall be kept in abeyance, so as to enable the petitioner to pay off the entire dues as above.

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W.P.(C).No.1521 of 2018

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In case of any default committed by the petitioner in remitting any one of the aforesaid installments, it would be open to the respondents to proceed further with the

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coercive steps, in accordance with law.

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Sd/-

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ANIL K.NARENDRAN JUDGE

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V.N.Ramanadhan v. Thottippal Service Co-Operative Society Limited No. 634

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V.N.Ramanadhan v. Thottippal Service Co-Operative Society Limited No. 634

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