Disposed

S.Yadava v. the Manjeswaram Primary Co-Operative Agricultural and Rural Development Bank

Kerala HC14 Jul 2022WP(C)/16820/2022

Case brief

AI extract

What is this about?

High Court disposed of a writ petition challenging recovery proceedings initiated by a cooperative bank against a willful loan defaulter. Considering the petitioner's financial hardship and disciplinary issues, the Court ordered the full balance amount with interest and costs to be repaid in 15 monthly installments, with recovery proceedings kept in abeyance if payments are regular.

What did the court decide?

Petitioner granted 15 monthly installments for repayment of loan balance, interest and costs. Recovery proceedings kept in abeyance if defaults do not occur.

S.Yadava Vs the Manjeswaram Primary… — Contract and Commercial Disputes | Kerala HC (2022)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR.JUSTICE V.G.ARUN

¶4

THURSDAY, THE 14^TH DAY OF JULY 2022 / 23RD ASHADHA, 1944 WP(C) NO. 16820 OF 2022

¶5

PETITIONER:

¶6

S.YADAVA, AGED 60 YEARS S/O. LATE KANNA BELCHAPADA, RESIDING AT DOOR NO.2/65, 3RD CROSS ROAD, KAPITANIA, PUMPWELL, BADAJE VILLAGE, MANGALORE, KARNATAKA STATE. PIN - 575002. BY ADVS. JAWAHAR JOSE CISSY MATHEWS JAISON ANTONY EDWIN JOSEPH

¶7

RESPONDENT/S:

¶8

1 THE MANJESWARAM PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK UPPALA (P.O), KASARAGOD DISTRICT. PIN - 671322. 2 THE SPECIAL SALE OFFICER/ SENIOR INSPECTOR, MANJESWARAM PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK, UPPALA (P.O), KASARAGOD DISTRICT. PIN - 671322.

¶9

OTHER PRESENT:

¶10

SRI. RIYAL DEVASSY - GP

¶11

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P.(C)No.16820/2022

V.G.ARUN J.

W.P.(C) No.16820 of 2022

¶16

Dated this the 14th day of July 2022

¶17

JUDGMENT

¶18

Petitioner availed loan from the first respondent bank in the year 2018 and defaulted repayment. Petitioner having mortgaged his property as security for the loan, first respondent initiated recovery proceedings under the Kerala State Cooperative Agricultural and Rural Development Banks Act,1984. The only submission made on behalf of the petitioner is that, he should be granted an opportunity to repay the amount in 25 installments. Reason for making such submission is the disciplinary proceedings initiated against the petitioner by his employer ,the Kasargod District Co-operative Bank, and consequential withholding of service benefits.

¶19

Learned counsel for the first respondent bank submitted that as on date an amount of Rs.17,90,249/- is due towards the loan account and the overdue amount comes to Rs.10,09,020/- It is submitted that the petitioner is a willful defaulter and if installment facility is granted, that should be limited to the minimum.

¶20

Considering the petitioner's impecunious circumstances, I am inclined to grant the benefit of repayment of the loan amount in installments. Accordingly, the writ petition is disposed of as under ;

¶21

W.P.(C)No.16820/2022

¶22

¶23

i). The entire balance amount, along with interest and cost, shall be paid in 15 equated monthly installments.

¶24

ii). The 1st installment shall be paid on or before 15/8/2022 and the balance installments before 15th day of every succeeding month.

¶25

iii). Regular installments shall also be paid along with the installment towards the arrears .

¶26

iv). Default in any of the installments will result in the benefit of this

¶27

judgment being withdrawn and the Bank being at liberty to continue the recovery proceedings.

¶28

v). If the amounts are paid without default, recovery proceedings shall be kept in abeyance.

Sd/-

V.G.ARUN Judge

dpk

W.P.(C)No.16820/2022

APPENDIX OF WP(C) 16820/2022

¶35

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SALE NOTICE DATED 13.4.2022 ISSUED BY THE 2ND RESPONDENT

S.Yadava v. the Manjeswaram Primary Co-Operative Agricultural and Rural Development Bank

Case brief

What is this about?

What did the court decide?

S.Yadava v. the Manjeswaram Primary Co-Operative Agricultural and Rural Development Bank

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Joshy Mathew Vs State of Kerala

Reji Cherian Jacob, Vs the District Collector

Petroliv Petroleums (Angels Group) Vs Cochin Port Trust

P.G.Sasidharan Vs State of Kerala

Thomas George Vs State of Kerala

Alukannu Saifudeen Vs the Secretary to the Government