Disposed

Lissy Thomas v. the Thrissur Co-Operative Agricultural and Rural Development Bank Ltd.

Kerala HC26 Feb 2018WP(C)/2589/2018

Case brief

AI extract

What is this about?

The Kerala High Court disposed of a writ petition by the petitioner, a borrower facing a sale notice from her bank. Permitting the petitioner to repay dues in instalments, the Court directed the bank to keep recovery proceedings in abeyance pending successful instalment payments without default.

What did the court decide?

Petitioner ordered to pay overdue amount plus interest in six equal monthly instalments starting 05.03.2018; recovery proceedings to be kept in abeyance pending default-free payment.

Lissy Thomas Vs the Thrissur Co-Operative… — Contract and Commercial Disputes | 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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MONDAY, THE 26TH DAY OF FEBRUARY 2018 / 7TH PHALGUNA, 1939

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WP(C).No. 2589 of 2018

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PETITIONER :

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LISSY THOMAS, AGED 46 YEARS, W/O. GANAPATHY PLAKKAL THOMAS, RESIDING AT GANAPATHY PLAKKAL, CHOTTUPARA P.O, THRISSUR 680 581

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BY ADVS.SRI.B.DEEPAK SRI.KARTHIK BHAVADASAN

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RESPONDENT :

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THE THRISSUR CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD THRISSUR - 4

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BY ADV. SRI.M.R.VENUGOPAL BY ADV. SMT.DHANYA P.ASHOKAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26-02-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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bp 28/2/2018

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WP(C).No. 2589 of 2018 (W)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1 NOTICE ISSUED BY THE SALE OFFICER OF THE RESPONDENT BANK

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RESPONDENT'S EXHIBITS : NIL.

//TRUE COPY//

P.A. TO JUDGE

ANIL K.NARENDRAN, J.

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W.P.(C).No.2589 of 2018

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Dated this the 26^th day of February, 2018

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J U D G M E N T

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The petitioner and her husband availed three loans from the respondent Bank in the year 2014 vide Loan Account Nos.DY228, PHS111 and NHS1577 by mortgaging the property having an extent of 4.86 Ares in Survey No.94/P of Killannoor Village and another property having an extent of 20.23 Ares of land in Survey No.708/2 of the same village owned by her brother. The petitioner has filed this writ petition under Article 226 of the Constitution of India, seeking a writ of certiorari to quash Ext.P1 notice and seeking an order permitting her to pay off the due amount in monthly instalments for regularising the loan account.

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On 24.01.2018, 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. Based on the submission made by the learned counsel for the petitioner that, the overdue amount comes to 4,97,104/- in respect of the loan₹ transactions in question, this Court has granted an interim stay of Ext.P1 notice for a period of one month, on condition that the petitioner deposits a sum of 1,00,000/- with the respondent Bank₹ within a period of two weeks.

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W.P.(C).No.2589 of 2018

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Today, when the case is taken up for consideration, it is submitted by the learned counsel for the petitioner that the petitioner has already deposited 1,00,000/- in terms of the interim₹ order of this Court dated 24.01.2018 and that, for clearing the balance overdue amount, she may be granted a reasonable time.

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The learned counsel appearing for the respondent Bank on instructions would submit that the total overdues as on 01.02.2018 comes to around 6,00,000/- and the respondent Bank has no₹ objection in this Court granting a reasonable opportunity to the petitioner to pay off the overdue amount in monthly instalments, along with regular monthly instalments.

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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 balance overdue amount in respect of the loan transactions in question, covered by Ext.P1 sale notice, together with future interest, in six equal monthly instalments commencing from 05.03.2018 , and the subsequent instalments payable on or before the 5^th day of the succeeding months. Along with the said instalments, the petitioner shall also remit the regular monthly instalments.

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W.P.(C).No.2589 of 2018

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If the petitioner is remitting the aforesaid instalments 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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In case of any default committed by the petitioner in remitting any one of the aforesaid instalments, it would be open to the respondent to proceed further with the coercive steps, in accordance with law.

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Sd/-

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ANIL K.NARENDRAN JUDGE

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AV/27/2

Lissy Thomas v. the Thrissur Co-Operative Agricultural and Rural Development Bank Ltd.

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Lissy Thomas v. the Thrissur Co-Operative Agricultural and Rural Development Bank Ltd.

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