Partly allowed

Rajan K.C. v. the Primary Co-Operative Agricultural Rural Development Bank LTD.NO.159

Kerala HC2 Dec 2021WP(C)/3736/2021

Case brief

AI extract

What is this about?

In a writ petition regarding loan default, the Kerala High Court granted the petitioners indulgence. The court directed the Bank not to proceed with recovery actions, provided the petitioners clear over dues in monthly installments along with regular EMIs.

What did the court decide?

Order: Directing the petitioners to pay the entire over dues in the loan account with interest and costs in fifteen equal monthly instalments commencing from 04.01.2022; Bank granted indulgence subjec

Rajan K.C. Vs the Primary Co-Operative… — Contract and Commercial Disputes | Kerala HC (2021)

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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 SATHISH NINAN

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THURSDAY, THE 2^ND DAY OF DECEMBER 2021 / 11TH AGRAHAYANA, 1943

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WP(C) NO. 3736 OF 2021

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PETITIONERS:

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1 RAJAN K.C.,AGED 54 YEARS,S/O. CHELLAPPAN, RESIDING AT KIZHEKKEDATH HOUSE, PERUMBETTIYIL, VALANJAVATTOM, P. O. , THIRUVALLA, PATHANAMTHITTA - 689 104.

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2 SUMA,AGED 46 YEARS,W/O. RAJAN K. C., RESIDING AT KIZHEKKEDATH HOUSE, PERUMBETTIYIL, VALANJAVATTOM, P. O. , THIRUVALLA, PATHANAMTHITTA - 689 104.

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BY ADV S.SUJINI

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RESPONDENTS:

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1 THE PRIMARY CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD.NO.159,NSS BUILDING, REVENUE TOWER ROAD, NEAR DHANALAKSHMI BANK, THIRUVALLA, KERALA - 689101, REPRESENTED BY ITS SECRETARY.

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2 THE PRIMARY CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD.NO.159,NSS BUILDING, REVENUE TOWER ROAD, NEAR DHANALAKSHMI BANK, THIRUVALLA, KERALA - 689101, REPRESENTED BY ITS SPECIAL SALE OFFICER.

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BY ADV SHRI.ABRAHAM SAMSON, (SC)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.12.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P(C) NO.3736 of 2021

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JUDGMENT

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The credit facilities availed by the petitioners

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from the respondent Bank was defaulted. Recovery proceedings have been initiated by the Bank, notifying sale of immovable property. It is at that stage the petitioners have approached this Court. Petitioners seek for regularisation of the loan.

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Learned standing counsel for the Bank, Sri.Abraham Samson, on instructions submits that, further period is available for the facilities in question and that the Bank is not averse in granting regularisation, provided the entire over dues are cleared and regular EMIs paid without further default.

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After hearing the learned counsel on both sides I am of the opinion that some indulgence could be shown.

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Accordingly, the writ petition is disposed of with the following directions:

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(i) The petitioners are directed to pay the

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entire over dues in the loan account, with

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W.P(C) NO.3736 of 2021

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interest and costs, in fifteen equal monthly instalments commencing from 04.01.2022. The subsequent instalments shall be payable on or before the 5^th day of the succeeding months.

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(ii) The instalments as above shall be in addition to the regular EMIs payable in the account.

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(iii) In case of default in payment of either the intalments or the EMIs, the petitioners will lose the benefit granted

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under this judgment, and further proceedings for recovery can go on.

Sd/-

SATHISH NINAN

JUDGE

vdv

W.P(C) NO.3736 of 2021

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APPENDIX OF WP(C) 3736/2021

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PETITIONER EXHIBITS

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EXHIBIT P1	TRUE COPY OF THE FACE PAGE OF THE PASS BOOK ISSUED BY THE 1ST RESPONDENT BANK.
EXHIBIT P2	TRUE COPY OF THE LAND TAX RECEIPT WITH RESPECT TO THE PROPERTY OF THE PETITIONERS MORTGAGED WITH THE RESPONDENT BANK.
EXHIBIT P3	TRUE COPY OF THE BANK PASS BOOK EVIDENCING REMITTANCES MADE TILL 13.12.2018 BY THE PETITIONERS.
EXHIBIT P4	TRUE COPY OF THE EXTRACT OF BANK PASS BOOK EVIDENCING PAYMENT ON 31.03.2020.
EXHIBIT P5	TRUE COPY OF THE RECEIPTS EVIDENCING A TOTAL PAYMENT OF RS.1,00,000/- PAID ON 25.11.2020 BY THE PETITIONERS.
EXHIBIT P6	TRUE COPY OF NOTICE FOR SALE BY PUBLIC AUCTION DATED 05.01.2021 ISSUED BY THE 2ND RESPONDENT.
EXHIBIT P7	TRUE COPY OF THE RELEVANT PORTION OF THE NEWSPAPER PUBLICATION DATED 14.01.2021.
EXHIBIT P8	TRUE COPY OF THE LETTER DATED 08.02.2021 ADDRESSED TO THE 1ST RESPONDENT.

Rajan K.C. v. the Primary Co-Operative Agricultural Rural Development Bank LTD.NO.159

Case brief

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What did the court decide?

Rajan K.C. v. the Primary Co-Operative Agricultural Rural Development Bank LTD.NO.159

Case brief

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What did the court decide?

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