Disposed

Deepak Dilip v. Kumarakom Service Co-Operative Bank LTD.NO.2298

Kerala HC19 Mar 2021WP(C)/2794/2021

Case brief

AI extract

What is this about?

This petition, filed against a bank and the State, challenged coercive steps taken for enforcement of an award. The court discharged the stay to allow repayment in ten monthly installments after a prior deposit, citing the pandemic and financial convenience of the bank.

What did the court decide?

Direction to repay the outstanding amount with future interest in ten equal monthly installments commencing May 3, 2021.

Deepak Dilip Vs Kumarakom Service Co-Operative Bank… — Banking and Recovery | Kerala HC (2021)

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W.P.(C) No.2794/2021 1

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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 SUNIL THOMAS

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FRIDAY, THE 19TH DAY OF MARCH 2021 / 28TH PHALGUNA, 1942

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WP(C).No.2794 OF 2021(Y)

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PETITIONER:

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DEEPAK DILIP

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AGED 34 YEARS S/O.K.R. DILIP KUMAR, AKSHYA NIKUNJAM, KOTTAYAM WEST PO, VELLORE, KOTTAYAM DISTRICT 686 003.

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BY ADV. SRI.T.O.XAVIER

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RESPONDENTS:

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1 KUMARAKOM SERVICE CO-OPERATIVE BANK LTD.NO.2298 KUMARAKOM 686 563 REP.BY ITS SECRETARY.

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2 STATE OF KERALA REP.BY ITS CHIEF SECRETARY, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM 695 001.

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R1 BY ADV. SRI.M.M.HARRIS R1 BY ADV. SRI.S.SHYAM

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OTHER PRESENT:

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SR.GP BIMAL K NATH

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P.(C) No.2794/2021

JUDGMENT

Dated this the 19th day of March 2021

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Petitioner has approached this court with a grievance that coercive steps

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are being taken against him for enforcement of Ext.P1 award. When the case came up for consideration earlier, this court granted a stay subject to the condition that the petitioner shall deposit a sum of Rs.1,00,000/- on or before 4/3/20201.

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When the matter was taken up today,it was submitted by the learned counsel for the petitioner that, the above amount has been deposited. Petitioner sought for installment to pay the entire amount. Adv.S.Shyam, learned counsel for the bank contended that though the bank is not amenable for the petitioner's request for installment, since the amount is due since long, still the bank can afford to grant six instalments which is the maximum which the bank can afford.

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Having regard to the prevailing pandemic situation and also the entire circumstances, I am inclined to dispose of the writ petition with a direction that the petitioner shall repay the entire amount due after deducting Rs.1 Lakh already paid with future interest in ten equal monthly instalments commencing from 3^rd May 2021 onwards. Petitioner shall remit the amounts in the loan account on the 3^rd of every succeeding monthly without default. If two defaults are committed either consequentially or separately, this benefit will be lost and the bank will be entitled to recover the entire balance amount in lum by adopting

W.P.(C) No.2794/2021

the process of law.

The writ petition is disposed of as above.

Sd/-

SUNIL THOMAS

JUDGE

dpk

W.P.(C) No.2794/2021

APPENDIX

PETITIONER'S/S EXHIBITS:

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EXHIBIT P1

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TRUE COPY OF AWARD DATED 13.11.2019 PASSED BY THE ARBITRATION IN A.R.NO.3186/2018 ALONG WITH ENGLISH TRANSLATION.

Deepak Dilip v. Kumarakom Service Co-Operative Bank LTD.NO.2298

Case brief

What is this about?

What did the court decide?

Deepak Dilip v. Kumarakom Service Co-Operative Bank LTD.NO.2298

Case brief

What is this about?

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What the court decided

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