Allowed

Anumol L.S v. the Karamana Co-Operative Urban Bank Ltd. NO.1761

Kerala HC16 Jan 2020WP(C)/7/2020

Case brief

AI extract

What is this about?

In a writ petition concerning loan regularization, the Court directed the Bank to provide an account statement and permitted the petitioner to clear dues in installments if an initial installment of Rs. 1 lakh was paid by 31.01.2020. Default would resume impugned proceedings.

What did the court decide?

Bank to issue statement; Petitioner to pay Rs. 1 lakh by 31.01.2020, balance in 4 installments by 31.05.2020; coercive steps suspended pending clearance; loan regularized if full dues cleared.

Anumol L.S Vs the Karamana Co-Operative Urban Bank… — Service and Employment | Kerala HC (2020)

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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 ALEXANDER THOMAS

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THURSDAY, THE 16TH DAY OF JANUARY 2020 / 26TH POUSHA, 1941 WP(C).No.7 OF 2020(A)

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PETITIONER:

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ANUMOL L.S AGED 35 YEARS W/O.PRAVEEN N.G, PUTHUVAL PUTEN VEEDU, PUNNAKKAMUGHAL, ARAMADA P.O., THIRUVANANTHAPURAM DISTRICT, PIN- 695032.

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BY ADV. SRI.V.SETHUNATH

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RESPONDENT:

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THE KARAMANA CO-OPERATIVE URBAN BANK LTD NO.1761, REPRESENTED BY ITS AUTHORIZED OFFICER, ASST. GENERAL MANAGER, KARAMANA P.O., PIN- 695002. R1 BY ADV. SRI.R.S.KALKURA

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No.7 OF 2020(A)

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ALEXANDER THOMAS, J.

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===========================

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W.P(C) No.7 of 2020

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===========================

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Dated this the 16^th day of January, 2020

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JUDGMENT

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The prayers in the above Writ Petition (Civil) are as follows:

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“1. Issue a writ of mandamus or appropriate writ direction or order to the respondent to regularize the Loan of the petitioner and permit the petitioner to pay of the arrears in installments.

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Grand such other relief as this Hon'ble court deems fit and proper to grant in the facts and circumstances of the case.”

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Heard Sri.V.Sethunath, learned counsel appearing for the petitioner and Sri.R.S.Kalkura, learned Standing Counsel appearing for the respondent (Karamana Co-operative Urban Bank Ltd.).

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The learned counsel for the petitioner would submit that the time limit for complying with the condition in the interim order dated 06.01.2020 rendered by this Court in this W.P(C) in the matter of the petitioner remitting an amount of Rs.1 lakh, is upto 24.01.2020 and that the petitioner would certainly remit the said amount to the respondent-Bank, within the said time deadline or latest by 31.01.2020

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WP(C).No.7 OF 2020(A)

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and further submits that this Court may direct that the petitioner may be permitted to clear overdues for regularising the loan account, to be paid in six instalments.

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The learned counsel appearing for the respondent-Bank was requested to get instructions in the matter. Today when the matter has come up for consideration, Sri.R.S.Kalkura, learned counsel appearing for the respondent would submit on the basis of instructions that as on today (16.01.2020), the overdues owed by the petitioner in this loan transaction for regularisation of the loan account is around Rs.4 lakhs and that the respondent-Bank is prepared to give time to the petitioner, so that the overdues in that regard are cleared by the petitioner, without much delay, preferably on or before 31.03.2020.

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After hearing both sides, this Court had suggested that the time line for clearing the overdues by the petitioner could be upto 31.05.2020. Provided that the petitioner remits an amount of not less than Rs.1,00,000/- (Rupees One Lakh only), at any rate, on or before 31.01.2020.

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WP(C).No.7 OF 2020(A)

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Accordingly, the following directions and orders are passed:

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(i) The competent official of the respondent Bank shall immediately furnish a comprehensive and authenticated statement of account pertaining to the loan transaction in question showing the precise details thereof and the total dues to be cleared by the borrower as on the date of issuance of the said statement.

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(ii) The petitioner will immediately remit an amount of Rs.1,00,000/- (Rupees One Lakh only) to the respondent-Bank, without any further delay, by the third week of January, 2020, at any rate, on or before 31.01.2020.

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(iii) In case, the petitioner complies with the said condition to pay an amount of Rs.1 lakh on or before 31.01.2020, then the petitioner will be permitted to clear the balance overdues in four equal monthly instalments, viz., on or before 28.02.2020, on or before, 31.03.2020, on or before 30.04.2020 and on or before 31.05.2020. However, this is subject to the condition that the petitioner shall pay all applicable charges and interest thereon and should also clear the regular EMIs in time. Until the expiry of the abovesaid time limit, the respondent-Bank will keep in abeyance further coercive steps in pursuance to the impugned proceedings.

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(iv) If the petitioner defaults any of the abovesaid conditions as aforestated, then the respondent-Bank will be at liberty to immediately thereupon to proceed further with the impugned proceedings, from the stage where it has been stopped.

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(v) If the petitioner complies with all the conditions and clears the entire overdues, as aforestated, then the respondent-Bank will take necessary steps to ensure that the loan account is regularised and may also take steps

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WP(C).No.7 OF 2020(A)

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to grant re-possession of the subject property to the petitioner.

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With these observations and directions, the above Writ Petition

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(Civil) stands finally disposed of.

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Sd/-

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ALEXANDER THOMAS JUDGE

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vgd

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WP(C).No.7 OF 2020(A)

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APPENDIX

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PETITIONER'S/S EXHIBITS:

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EXHIBIT P1 TRUE COPY OF THE WARRANT ISSUED BY THE C.J.M, THIRUVANANTHAPURAM IN M.C.NO.1419/2019.

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EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 17.12.2019.

Anumol L.S v. the Karamana Co-Operative Urban Bank Ltd. NO.1761

Case brief

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Anumol L.S v. the Karamana Co-Operative Urban Bank Ltd. NO.1761

Case brief

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What did the court decide?

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