Partly allowed

Muralidharan P.R., v. the Branch Manager

Kerala HC15 Jan 2020WP(C)/291/2020

Case brief

AI extract

What is this about?

The High Court of Kerala granted relief to loan defaulters, directing the bank to stay recovery proceedings for one year if the outstanding sum of Rs.42,58,930 plus interest is paid in twelve monthly installments. The court emphasized that no extension would be allowed upon future petitions. The decision was thin and focused on disposing of the writ petition.

What did the court decide?

Stay of recovery proceedings for twelve months upon payment of Rs.42,58,930 plus interest in equal monthly installments; future extension petitions barred.

Muralidharan P.R., Vs the Branch Manager — Banking and Recovery | 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 A.K.JAYASANKARAN NAMBIAR

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WEDNESDAY, THE 15TH DAY OF JANUARY 2020/25TH POUSHA, 1941

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WP(C).No.291 OF 2020(J)

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PETITIONERS:

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1 MURALIDHARAN P.R., AGED 56 YEARS S/O. RAGHAVAN, PARATHAZHA HOUSE, ARANATTUKARA VILLAGE, LALOOR ROAD, ELTHURUTHU P.O., THRISSUR TALUK, THRISSUR DISTRICT.

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2 RAJESWARY K.V., AGED 49 YEARS W/O. MURALEEDHARAN, PARATHAZHA HOUSE, ARANATTUKARA VILLAGE, LALOOR ROAD, ELTHURUTHU P.O., THRISSUR TALUK, THRISSUR DISTRICT.

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BY ADVS.SMT.M.R.REENA SRIP.S.SUJETH

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RESPONDENTS:

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1 THE BRANCH MANAGER, FATIMA NAGAR CO-OP. BANK LTD. R-224, RICE BAZAR BR., THRISSUR DSITRICT-680001.

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2 THE SPECIAL SALE OFFICER, FATIMA NAGAR, CO-OP. BANK LTD. R-224, O/O. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES (G), THRISSUR-680001.

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R1 BY ADV. SRI.SANTHOSH P.PODUVAL

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C).No.291/2020 :: 2 ::

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J U D G M E N T

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The petitioners, who are defaulters of loans availed from the respondent Society, are aggrieved by the recovery steps initiated by the respondent Society consequent to an ARC that was preferred by them before the Co-operative Arbitration Court. The learned counsel for the respondents would submit that the total amount outstanding, as of today, is Rs.42,58,930/-.

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I have heard the learned counsel for the petitioners as also the learned Standing counsel for the respondent bank.

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On a consideration of the facts and circumstances of the case and the submissions made across the bar and also taking into account the plea of financial hardship raised by the petitioners, I dispose the writ petition with the following directions:

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(i) If the petitioners pay the amount of Rs.42,58,930/- together with accrued interest from today till the date of payment, in twelve equal and

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W.P.(C).No.291/2020 :: 3 ::

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successive monthly installments commencing from 03.02.2020, then the further proceedings for recovery as against the petitioners, shall be kept in abeyance.

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(ii) It is made clear that if the petitioners commit a default in respect of any of the installments, they will lose the benefit of this judgment and the respondent bank will be free to continue the recovery proceedings against them from the stage at which they presently stand.

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(iii) It is further made clear that inasmuch as it is in exceptional cases that this Court would grant the reliefs aforementioned, no further petition for modification/extension of time will be entertained.

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Sd/-

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A.K.JAYASANKARAN NAMBIAR JUDGE

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prp/15/1/2020

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W.P.(C).No.291/2020 :: 4 ::

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APPENDIX

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PETITIONER'S EXHIBITS:

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EXHIBIT P1 A TRUE COPIES OF THE DEMAND NOTICES DATED 07/11/2019. EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION DATED 09/12/2019 SENT BY THE PETITIONER.

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RESPONDENTS EXHIBITS: NIL.

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//TRUE COPY//

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P.S. TO JUDGE

Muralidharan P.R., v. the Branch Manager

Case brief

What is this about?

What did the court decide?

Muralidharan P.R., v. the Branch Manager

Case brief

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