Disposed

Sankaranarayanan v. the Joint Registrar of Co-Operative Societies

Kerala HC22 Feb 2018WP(C)/2401/2018

Case brief

AI extract

What is this about?

In a writ petition under Article 226, the High Court permitted a bank borrower to clear an overdue loan amount of Rs.6 lakhs in installments. The Court directed the bank to stay recovery proceedings against the petitioner's property if installments are paid on time, allowing the petitioner a reasonable time to clear dues.

What did the court decide?

Petitioner allowed to pay overdue amount in 10 equal monthly installments; recovery proceedings stayed pending timely payment of such installments.

Sankaranarayanan Vs the Joint Registrar of Co-Operative… — Company and Corporate | 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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THURSDAY, THE 22ND DAY OF FEBRUARY 2018 / 3RD PHALGUNA, 1939

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WP(C).No. 2401 of 2018

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PETITIONER:

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SANKARANARAYANAN, S/O.K.S.BALAN, AGED 54 YEARS, KONJIPARAMBIL HOUSE, AKKORAPURAM, P.O. KURICHIKKARA, MADAKKATHARA VIA, THRISSUR DISTRICT- 680 028

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BY ADVS.SRI.BINOY VASUDEVAN SMT.K.J.ANITHA

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RESPONDENT(S):

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1. THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE OF THE JOINT REGISTRAR, CIVIL STATION, AIYANTHOL, THRISSUR- 680 003. 2. THE THRISSUR CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.329, HEAD OFFICE, THRISSUR- 680 001, REPRESENTED BY ITS GENERAL MANAGER 3. THE THRISSUR CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.329, THRISSUR BRANCH, REPRESENTED BY ITS SECRETARY, THRISSUR- 680 001. 4. THE SALE OFFICER, THE THRISSUR CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD.NO.329, THRISSUR- 680 001. R1 BY SENIOR GOVERNMENT PLEADER SRI.K.P. HARISH R2 TO R4 BY ADVS.SRI.VINCENT VARGHESE SMT.DHANYA P.ASHOKAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22-02-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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mbr/

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WP(C).No. 2401 of 2018 (A)

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APPENDIX

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PETITIONERS'	EXHIBITS:
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EXHIBIT P1	TRUE COPY OF THE RECEIPTS ISSUED BY THE 3RD RESPONDENT.
EXHIBIT P2	TRUE PHOTOCOPY OF NOTICE ISSUED BY THE 4TH RESPONDENT.
EXHIBIT P3	TRUE COPY OF THE COMPOSITE NOTICE PUBLISHED BY THE 4TH RESPONDENT IN THE MALAYALA MANORAMA DAILY DATED 18.1.2018.
EXHIBIT P4	TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT ON 21.1.2018.

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RESPONDENTS' EXHIBITS: NIL ---------------------/TRUE COPY/ P.S.TO JUDGE

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mbr/

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ANIL K.NARENDRAN, J.

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----------------------------------------------- W.P.(C)No.2401 of 2018

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Dated this the 22^nd day of February, 2018

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J U D G M E N T

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The petitioner, who availed three loans from the 2^nd respondent Bank in the year 2014 under loan account Nos.ARSMI-761, NHS-1403 and NHS-1228 for a total sum of Rs.6 lakhs, is before this Court in this writ petition filed under Article 226 of the Constitution of India, seeking a writ of certiorari to quash Exts.P2 and P3 notices issued by the 4^th respondent Sale Officer and seeking a writ of mandamus commanding the 1^st respondent Joint Registrar to issue appropriate direction to respondents 2 to 4 to permit the petitioner to pay the overdue amount in respect of the loan accounts in question in 15 equal monthly installments.

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On 23.1.2018, when this writ petition came up for admission, the learned Senior Government Pleader took notice on admission for the 1^st respondent. This Court issued urgent notice on admission by speed post to respondents 2 to 4. This Court has also granted an interim stay of operation of Exts.P2 and P3 to the

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W.P.(C)No.2401 of 2018

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extent it proposes to sell the petitioner's residential house, for a period of one month on condition that the petitioner deposits a sum of Rs.50,000/- within a period of one week and another sum of Rs.50,000/- within a period of two weeks thereafter.

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Heard the learned counsel for the petitioner, the learned Senior Government Pleader appearing for the 1^st respondent and also the learned counsel appearing for respondents 2 and 3.

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The learned counsel for the petitioner would submit that in terms of the interim order of this Court dated 23.1.2018, the petitioner has already deposited a total sum of Rs.1,00,000/and for repayment of the balance amount, he requires a reasonable time.

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The learned counsel for respondents 2 and 3 would submit that the overdue amount as on 29.1.2018 would come to Rs.6,02,122/-, less Rs.50,000/- deposited by the petitioner on 14.2.2018 towards second installment. If the petitioner is prepared to clear the overdue amount in monthly installments, along with regular monthly installments, respondents 2 and 3 have no objection in this Court granting him a reasonable time to

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W.P.(C)No.2401 of 2018

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clear the overdue 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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(i) The petitioner shall pay off the overdue amounting to Rs.6,02,122/- as on 29.1.2018, (less Rs.50,000/- deposited on 14.2.2018 in terms of the interim order of this Court dated 23.1.2018) together with future interest, in 10 equal monthly installments commencing from 1.3.2018 and the subsequent installments payable on or before the 1^st day of the succeeding months. Along with the said installments, the petitioner shall also pay the regular monthly installments.

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(ii) If the petitioner is remitting the aforesaid installments in time, without any default, all recovery proceedings pursuant to Exts.P2 and P3, to the extent it relates to the petitioner's property, shall be kept in abeyance, so as to enable him to pay off the entire dues in monthly installments, as above.

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(iii) In case of any default committed by the petitioner in remitting any one of the aforesaid installments, it will be

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W.P.(C)No.2401 of 2018

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open to the respondents to proceed further with the coercive

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steps, in accordance with law.

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Sd/-

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ANIL K.NARENDRAN JUDGE

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ami/22.2.18

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//True copy//

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P.A.to Judge

Sankaranarayanan v. the Joint Registrar of Co-Operative Societies

Case brief

What is this about?

What did the court decide?

Sankaranarayanan v. the Joint Registrar of Co-Operative Societies

Case brief

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