Disposed

Rajesh P. Appunny v. the Kerala State Cooperative Bank

Kerala HC3 Feb 2023WP(C)/2437/2023

Case brief

AI extract

What is this about?

The High Court of Kerala disposed of a writ petition seeking permission to pay outstanding loan dues in instalments. The court directed the petitioners to clear overdue amounts via regular monthly installments over specific periods, conditioned on account regularization, with liberty to take coercive action upon default.

What did the court decide?

Petitioners permitted to pay overdue amounts in instalments; accounts to be regularized upon compliance; coercive recovery stayed pending adherence to payment schedule.

Rajesh P. Appunny Vs the Kerala State… — 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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FRIDAY, THE 3^RD DAY OF FEBRUARY 2023 / 14TH MAGHA, 1944

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WP(C) NO. 2437 OF 2023

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PETITIONERS:

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1 RAJESH P. APPUNNY AGED 45 YEARS S/O P.K. APPUNNY, PANIKKAVEETTIL HOUSE, PALLICKACHIRA P.O., KOTTAYAM DISTRICT – 686537.

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2 SMITHA S AGED 39 YEARS W/O RAJESH P. APPUNNY, PANIKKAVEETTIL HOUSE, PALLICKACHIRA P.O., KOTTAYAM DISTRICT – 686537.

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BY ADVS. K.SHAJ BEENA N.KARTHA C.IJLAL ARUN CHAND RESHMA.P. JOSEPH MARY DAS VINAYAK G MENON BHARAT VIJAY P. MAJID MUHAMMED K. MINU VITTORRIA PAULSON

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RESPONDENT:

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THE KERALA STATE COOPERATIVE BANK , HAVING REGISTERED OFFICER AT P.B. NO. 6515, COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM, HAVING BRANCH OFFICE AT PAIPPAD, KOTTAYAM DISTRICT - 686537, REPRESENTED BY ITS AUTHORIZED OFFICER.

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BY ADV ATHUL SHAJI

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 2437 OF 2023

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T.R. RAVI, J.

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-------------------------------------------- W.P.(C) No.2437 of 2023

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Dated this the 03^rd day of February, 2023

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JUDGMENT

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The prayer in the writ petition is for permission to the petitioners to pay off the amounts outstanding to the respondent in easy instalments.

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The Counsel for the respondent on instructions submits that the 1^st petitioner has availed a housing loan in which a sum of Rs.17,04,941/- is overdue and the 2^nd petitioner has taken an ordinary loan in which a sum of Rs.12,86,982/- is overdue.

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

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(a). The 1^st petitioner shall pay the overdue amount of Rs.17,04,941/- in the housing loan in twelve equal monthly instalments, the 1^st instalment falling due on before 03.03.2023 and the subsequent instalments falling due on or before the 03^rd day of the succeeding months and shall also

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WP(C) NO. 2437 OF 2023

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pay the regular monthly instalments along with the instalments towards the overdue amount as stated above.

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(b) The 2^nd petitioner shall pay the overdue amount of Rs.12,86,982/- in the ordinary loan in fifteen equal monthly instalments, the 1^st instalment falling due on before 03.03.2023 and the subsequent instalments falling due on or before the 03^rd day of the succeeding months and shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above.

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(c). If the petitioners pay the entire overdue amounts as directed above, the respondent shall regularise both the loan accounts. If the petitioners make two consecutive defaults in the payment of the instalments as directed above, the respondent is at liberty to continue with coercive steps for recovery. The coercive steps initiated shall be kept in abeyance to facilitate the petitioners to pay the amounts in instalments as directed above.

Sd/-

T.R.RAVI JUDGE

mpm

WP(C) NO. 2437 OF 2023

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APPENDIX OF WP(C) 2437/2023

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PETITIONERS' EXHIBITS

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Exhibit P1 THE TRUE COPY OF THE RELEVANT EXTRACT OF THE STATEMENT FOR LOAN ACCOUNT NO. 6018720007 OF THE 1ST PETITIONER.

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Exhibit P2 THE TRUE COPY OF THE RELEVANT EXTRACT OF THE STATEMENT FOR LOAN ACCOUNT NO. 6042220401 OF THE 2ND PETITIONER. Exhibit P3 THE TRUE COPY OF THE NOTICE DATED 10/01/2023 ISSUED BY THE ADVOCATE COMMISSIONER.

Rajesh P. Appunny v. the Kerala State Cooperative Bank

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Rajesh P. Appunny v. the Kerala State Cooperative Bank

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