Allowed

Viswanathan.K v. the Ottapalam Co-Operative Urban Bank Ltd. No.F 1647

Kerala HC24 Feb 2023WP(C)/1738/2023

Case brief

AI extract

What is this about?

The Court disposed of a writ petition filed by a bank defaulter seeking permission to clear overdue liabilities in instalments. The Court allowed the petition, directing the petitioner to pay the outstanding amount via monthly instalments while staying coercive recovery steps.

What did the court decide?

Petitioner ordered to pay Rs.13,59,492/- in fifteen monthly instalments; respondent to regularise loan account; coercive recovery proceedings stayed.

Viswanathan.K Vs the Ottapalam Co-Operative Urban Bank… — Specific Performance | 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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FRIDAY, THE 24TH DAY OF FEBRUARY 2023 / 5TH PHALGUNA, 1944

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WP(C) NO. 1738 OF 2023

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PETITIONER:

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1VISWANATHAN.K
AGED 60 YEARS
S/O.RAMAN, KANIYATH HOUSE, 19TH MILE,
SREERAMAKRISHNA NAGAR POST, OTTAPALAM TALUK,
PALAKKAD DISTRICT, PIN - 679103
BY ADVS.
R.SREEHARI
HAMZA A.V.

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RESPONDENTS:

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1THE OTTAPALAM CO-OPERATIVE URBAN BANK LTD NO.F 1647
OTTAPALAM POST, OTTAPALAM TALUK, PALAKKAD DISTRICT,
REPRESENTED BY ITS GENERAL MANAGER, PIN - 679101
2AUTHORISED OFFICER AND GENERAL MANAGER
THE OTTAPALAM CO-OPERATIVE URBAN BANK LTD NO.F 1647,
OTTAPALAM POST, OTTAPALAM TALUK,
PALAKKAD DISTRICT, PIN - 679101
3THE OTTAPALAM CO-OPERATIVE URBAN BANK LTD NO.F 1647
OTTAPALAM MAIN BRANCH, POST BOX NO.14, OTTAPALAM POST,
OTTAPALAM TALUK, PALAKKAD DISTRICT, REPRESENTED BY ITS
BRANCH MANAGER, PIN - 679101
BY ADVS.
VINOD MADHAVAN
M.V.BOSE(K/8/1967)
BIJU VARGHESE ERUMALA(B-197)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WPC No.1738 of 2023

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T.R. RAVI, J.

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

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W.P.(C.) No.1738 of 2023

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

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Dated this the 24^th day of February, 2023

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JUDGMENT

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The petitioner has approached this Court seeking permission to wipe off the liabilities to the respondent Bank in instalments. The petitioner prays that he may

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be permitted to pay off the amounts in easy instalments.

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The Standing Counsel on instructions submits that the overdue amount is Rs.13,59,492/- and the term of the loan is till 2025.

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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 the overdue amount of Rs.13,59,492/- in fifteen equal monthly instalments, the first instalment becoming payable on or before 24.03.2023 and the

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WPC No.1738 of 2023

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subsequent instalments payable on or before the 24^th day of the succeeding months. If the petitioner pays the entire instalments as directed above, the respondent shall regularise the loan account;

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ii) The petitioner shall continue to pay the regular instalments along with the instalments as directed above;

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iii) If the petitioner makes a single default in the payment of any instalments as directed above, the 1^st 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/24-02

WPC No.1738 of 2023

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	`APPENDIX OF WP(C) 1738/2023`
`PETITION`	`ER’S EXHIBITS:`
`EXHIBIT`	`P1` `TRUE COPY OF THE LOAN PASS BOOK IN THE NAME OF` `THE PETITIONER HAVING NO. ML-79792 AND CUSTOMER` `NO.23109 ISSUED BY THE 3RD RESPONDENT`
`EXHIBIT`	`P2` `TRUE COPY OF THE REGISTERED NOTICE ISSUED BY` `THE 3RD RESPONDENT TO THE PETITIONER DATED` `09/03/2020`
`EXHIBIT`	`P3` `TRUE COPY OF THE NOTICE DATED 10/01/2022 ISSUED` `BY THE 2ND RESPONDENT TO THE PETITIONER UNDER` `SECTION 13(2) OF THE SECURITISATION AND` `RECONSTRUCTION OF FINANCIAL ASSETS AND` `ENFORCEMENT OF SECURITY INTEREST ACT,2002`
`EXHIBIT`	`P4` `TRUE COPY OF THE DAILY STATUS REPORT OF THE` `CHIEF JUDICIAL MAGISTRATE COURT, PALAKKAD DATED` `17/12/2022 OBTAINED FROM, E-COURTS WEBSITE WITH` `RESPECT TO M C NO.294/2022`
`EXHIBIT`	`P5` `TRUE COPY OF THE NOTICE MEMO DATED 09/01/2023` `SERVED TO THE PETITIONER BY BINDU.P, THE` `ADVOCATE COMMISSIONER APPOINTED IN M C` `NO.294/2022 OF CHIEF JUDICIAL MAGISTRATE COURT,` `PALAKKAD`
`EXHIBIT`	`P6` `TRUE COPY OF THE STATEMENT OF ACCOUNT DATED` `16/01/2023 IN THE NAME OF THE PETITIONER HAVING` `LOAN ACCOUNT NO.00111800079792 WITH THE 3RD` `RESPONDENT BANK`

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RESPONDENTS' EXHIBITS:NIL

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TRUE COPY

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P.A. TO JUDGE

Viswanathan.K v. the Ottapalam Co-Operative Urban Bank Ltd. No.F 1647

Case brief

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Viswanathan.K v. the Ottapalam Co-Operative Urban Bank Ltd. No.F 1647

Case brief

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