Partly allowed

Ananthakrishnan.K.v v. Moospet Service Co-Operative Bank Ltd, No 682

Kerala HC22 Mar 2023WP(C)/1878/2023

Case brief

AI extract

What is this about?

Petitioner challenged execution of award under Kerala Co-operative Societies Act after loan default. Court granted interim stay previously but failed to pay, eventually ordering repayment of outstanding in 18 instalments with stay on coercive proceedings pending. Petition disposed.

What did the court decide?

Petitioner ordered to pay outstanding dues of Rs.32,25,364 in 18 monthly instalments with stay on coercive proceedings.

Ananthakrishnan.K.v Vs Moospet Service Co-Operative… — Execution and Attachment | 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 GOPINATH P.

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WEDNESDAY, THE 22ND DAY OF MARCH 2023 / 1ST CHAITHRA, 1945

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WP(C) NO. 1878 OF 2023

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PETITIONER:

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ANANTHAKRISHNAN.K.V.,
AGED 55 YEARS,
S/O VELAYUDAN, KAUMPARAMBHIL HOUSE,
AYYAPANKAVU, THRISSUR, PIN - 680751
BY ADVS.
KRISHOB K.NAIR
AHALYA PRAKASH K.V.

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RESPONDENTS:

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1MOOSPET SERVICE CO-OPERATIVE BANK LTD,
NO 682, REPRESENTED BY ITS AUTHORIZED
OFFICER, MOOSPET ROAD, CHELAKATU KARA,
EAST FORT POST, THRISSUR, PIN - 680005
2ASSISTANT REGISTRAR (GENERAL)
MOOSPET CO-OPERATIVE SOCIETIES (GENERAL)
SAHAKARANA BHAVAN AYYANTHOLE,
THRISSUR, PIN - 680003
3SPECIAL SALE OFFICER
NADATHARA MOOSPET GROUP,
MOOSPET CO-OPERATIVE SOCIETIES (GENERAL)
OFFICE OF ASSISTANT REGISTRAR (GENERAL)
SAHAKARANA BHAVAN AYYANTHOLE,
THRISSUR, PIN - 680003
BY ADVS.
SAJU S
A.V.SAJAN(K/384/2001)
ANJANADEVI.G(K/269/2014)
SRI. BIMAL K NATH, SR.GOVERNMENT PLEADER

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WPC No.1878 of 2023

J U D G M E N T

Petitioner availed a loan from the first respondent bank for the purposes of his business. On default being committed, proceedings were initiated against the petitioner under the provisions of the Kerala Co-operative Societies Act, 1969, and an award was obtained determining the amounts due from the petitioner. The award was put into execution, prompting the petitioner to approach this Court by filing the above writ petition.

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When this matter came up for consideration on 19.01.2023, this Court passed the following interim order;

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“Admit.

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Issue notice by speed post returnable in two weeks to respondents 1 and 3. Government Pleader takes notice for the 2^nd respondent.

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There will be an interim stay of confirmation of sale that is scheduled to be held on 24.01.2023 for a period of six weeks on condition that the petitioner remits a sum of Rs.3,50,000/- (Rupees Three lakh Fifty Thousand only) within one week.”

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WPC No.1878 of 2023

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When this matter is taken up for consideration today, it is not disputed before me that the petitioner has not paid any amount after the interim order of this Court on 19.01.2023. However, the petitioner has paid an amount of Rs.50,000/- today.

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The learned counsel appearing for the respondent bank submits that while some instalments can be granted to the petitioner, the number of instalements may be limited. It is submitted that the outstanding amount as on today is Rs.32,25,364/-(Rupees Thirty Two lakh Twenty Five Thousand Three Hundred and Sixty Four only) after giving credit to the amount already paid by the petitioner.

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In the result, the writ petition is disposed of with the following conditions:

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(i) The outstanding amount of Rs.32,25,364/(Rupees Thirty Two lakh Twenty Five Thousand Three Hundred and Sixty Four only) along with any accrued interest/costs shall be paid in eighteen(18) monthly instalments.

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WPC No.1878 of 2023

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(ii) The first instalment shall be paid on or before 28.04.2023 and subsequent instalments shall be paid on or before the 28^th day of every succeeding months.

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(iii) 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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(iv) 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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GOPINATH P., JUDGE

rkj

WPC No.1878 of 2023

APPENDIX OF WP(C) 1878/2023

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PETITIONER EXHIBITS
Exhibit P1THE TRUE COPY OF THE NOTICE DATED
15/12/2022 ISSUED BY THE 3RD RESPONDENT
Exhibit P2THE TRUE COPY OF THE RELEVANT PAGE OF THE
DESHABHIMANI NEWSPAPER DATED 10/1/2023

Ananthakrishnan.K.v v. Moospet Service Co-Operative Bank Ltd, No 682

Case brief

What is this about?

What did the court decide?

Ananthakrishnan.K.v v. Moospet Service Co-Operative Bank Ltd, No 682

Case brief

What is this about?

What did the court decide?

What the court decided

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Parties & counsel

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