Disposed

Johnson George, v. the Coastal Urban Co-Operative Bank Limited

Kerala HC1 Mar 2023WP(C)/122/2023

Case brief

AI extract

What is this about?

In this writ petition, the petitioner sought permission to settle overdue bank liabilities through an instalment plan. The court directed the petitioner to pay a sum of Rs. 4,00,000 plus amortised instalments. Upon compliance, the bank must regularise the account, though two defaults permit recovery proceedings to resume.

What did the court decide?

Petitioner directed to pay Rs. 4,00,000 by 29.03.2023 and balance amount in fifteen equal monthly instalments; upon full payment, respondent to regularise loan account; loop continued if two defaults

Johnson George, Vs the Coastal Urban… — Contract and Commercial Disputes | Kerala HC (2023)

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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 T.R.RAVI

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WEDNESDAY, THE 1ST DAY OF MARCH 2023 / 10TH PHALGUNA, 1944

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WP(C) NO. 122 OF 2023

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PETITIONER:

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1JOHNSON GEORGE,

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AGED 72 YEARS
S/O GEORGE, SHIBI NIVAS, VADAKKUMBHAGAM,
ERAVIPURAM P.O., KOLLAM DISTRICT -, PIN - 691011
BY ADVS.

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BHARAT VIJAY P.
SHAHNOY SHAJI

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RESPONDENTS:

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1 THE COASTAL URBAN CO-OPERATIVE BANK LIMITED, HEAD OFFICE, NEAR CIVIL STATION, KOLLAM DISTRICT - 691 013, REPRESENTED BY ITS AUTHORISED SIGNATORY

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2THE BRANCH MANAGER,
THE COASTAL URBAN CO-OPERATIVE BANK LIMITED, ERAVIPURAM
BRANCH, ERAVIPURAM, KOLLAM DISTRICT - 691, PIN - 691001
BY ADV SREEJITH S

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WPC No.122 of 2023

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T.R. RAVI, J.

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------------------------------------

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W.P.(C.) No.122 of 2023

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------------------------------------

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Dated this the 01^st day of March, 2023

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JUDGMENT

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The petitioner seeks permission to wipe off the liabilities in easy instalments.

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The Standing Counsel for the respondent on instruction submits that a sum of Rs.44,81,650/- is overdue and that no amounts have been paid by the petitioner after 2017. It is submitted that loan period is available till 2026 and that if the overdue amount is

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paid, the loan can be regularised.

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In the above circumstances, the writ petition is disposed of with the following directions:-

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i) The petitioner shall pay a sum of Rs.4,00,000/along with regular instalments on or before 29.03.2023 and the balance overdue amount

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along with regular instalments shall be paid in

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WPC No.122 of 2023

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fifteen equal monthly instalments, 1^st instalment

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becoming payable on or before 28.04.2023 and the subsequent instalments payable on or before the 28^th day of every succeeding months;

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ii) If the petitioner pays the entire instalments as directed above, the respondent shall regularise the loan account;

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iii) If the petitioner makes two defaults in the payment of the instalments as directed above,

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the respondent will be at liberty to continue with the proceedings for recovery;

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iv) Coercive steps for recovery shall be kept in abeyance for facilitating the payments by instalments as directed above.

Sd/-

T.R.RAVI

JUDGE

SKP/01-03

WPC No.122 of 2023

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APPENDIX OF WP(C) 122/2023

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`PETITIONER’S`	`EXHIBITS:`
`EXHIBIT P1`	`THE TRUE COPY OF THE RELEVANT EXTRACT OF THE` `PASSBOOK OF THE LOAN AND SHARE ACCOUNT OF LOAN` `NO. OL-4141 OF THE PETITIONER`
`EXHIBIT P2`	`THE TRUE COPY OF THE DEMAND NOTICE DATED` `24/04/2019 IN E.P. NO. 77/19 IN ARC NO. 1607/18`
`EXHIBIT P3`	`THE TRUE COPY OF THE JUDGMENT DATED 02/12/2022`
	`IN W.P.(C) NO. 35433/2019 OF THIS HON'BLE COURT`
`EXHIBIT P4`	`THE TRUE COPY OF THE POSSESSION NOTICE WITH` `REFERENCE NO. 88/2022 DATED 28/11/2022 ISSUED` `BY THE FIRST RESPONDENT BANK TO THE PETITIONER`
`RESPONDENTS'`	`EXHIBITS:NIL`

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TRUE COPY

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P.A. TO JUDGE

Johnson George, v. the Coastal Urban Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

Johnson George, v. the Coastal Urban Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

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