Disposed

Ramla v. the Kerala State Co-Operative Bank Ltd.

Kerala HC7 Jan 2022WP(C)/524/2022

Case brief

AI extract

What is this about?

Single judge ordered respondent bank to accept repayment of overdue dues in 15 instalments to regularise the petitioner's loan account, keeping coercive proceedings in abeyance.

What did the court decide?

Direction to respondent bank to accept repayment of overdue amount in 15 equated monthly instalments and regularise petitioner's loan account, keeping coercive proceedings in abeyance.

Ramla Vs the Kerala State Co-Operative Bank Ltd. — Banking and Recovery | Kerala HC (2022)

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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 BECHU KURIAN THOMAS

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FRIDAY, THE 7^TH DAY OF JANUARY 2022 / 17TH POUSHA, 1943

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WP(C) NO. 524 OF 2022

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PETITIONER:

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RAMLA AGED 38 YEARS W/O.ABDUL KHADER, SATHAR BANZIL, ERIYAL, KUDLU P.O, KASARGODE DISTRICT-671 124 BY ADV K.REEHA KHADER

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RESPONDENTS:

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1 THE KERALA STATE CO-OPERATIVE BANK LTD. REPRESENTED BY ITS CHIEF EXECUTIVE OFFICER, P.B.NO.6515, CO-OPERATIVE BANK TOWERS, PALAYAM, THIRUVANANTHAPURAM- 695 033 2 THE GENERAL MANAGER, KERALA STATE CO-OPERATIVE BANK, REGIONAL OFFICE, TALAP, KANNUR- 670 002 3 THE AUTHORIZED OFFICER (SARFAESI ACT), KERALA STATE CO-OPERATIVE BANK, BADIADKA EVENING BRANCH, KASARGOD-671 551

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 524 OF 2022

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BECHU KURIAN THOMAS, J.

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W.P.(C) No. 524 of 2022

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Dated this the 7^th day of January, 2022

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JUDGMENT

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Petitioner as borrower from the respondent bank, has committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

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During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

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It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount is Rs.12,31,955/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.

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WP(C) NO. 524 OF 2022

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I have heard Sri.Reeha Khader, learned counsel for

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the petitioner as well as Sri.M.Sasindran, the learned Standing Counsel for the respondents.

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Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in ‘15’ instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

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Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.12,31,955/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:

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(i) The overdue amount of Rs.12,31,955/- shall be repaid in ‘15’ equated monthly instalments.

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(ii) The first instalment shall be paid on or before 31/01/2022.

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WP(C) NO. 524 OF 2022

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(iii) Petitioner shall continue to pay the regular EMI’s along with the instalments directed above.

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(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

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(v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

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The writ petition is disposed of as above.

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Sd/-

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BECHU KURIAN THOMAS

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JUDGE

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AJM

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WP(C) NO. 524 OF 2022

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APPENDIX OF WP(C) 524/2022

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PETITIONER’S EXHIBITS :

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TRUE COPY OF THE NOTICE ISSUED BY THE Exhibit P1 ADVOCATE COMMISSIONER 06.01.2022.

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RESPONDENT’S EXHIBITS : NIL

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AJM //TRUE COPY// PA TO JUDGE

Ramla v. the Kerala State Co-Operative Bank Ltd.

Case brief

What is this about?

What did the court decide?

Ramla v. the Kerala State Co-Operative Bank Ltd.

Case brief

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