Allowed

Sunil Das G, v. the Thiruvalla East Co-Operative Bank Ltd.

Kerala HC4 Oct 2023WP(C)/2471/2023

Case brief

AI extract

What is this about?

Single judge disposed of a writ petition seeking breathing time, instalment options, and waiver of interest against a bank for loan defaults. The court directed the bank to regularize the account, accept 12-month instalment repayment, maintain regular EMIs, and keep SARFAESI proceedings in abeyance.

What did the court decide?

Directed Respondent Bank to regularize loan account, accept 12 equal monthly instalments of overdue amount plus accrued interest and charges, continue regular EMIs, and keep SARFAESI proceedings in ab

Sunil Das G, Vs the Thiruvalla East Co-Operative Bank Ltd. — Banking and Recovery | Kerala HC (2023)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR.JUSTICE K. BABU

¶4

WEDNESDAY, THE 4TH DAY OF OCTOBER 2023 / 12TH ASWINA, 1945
WP(C) NO. 2471 OF 2023

¶5

PETITIONER:

¶6

SUNIL DAS G,
AGED 58 YEARS
S/O. GOPIDAS, ANAPPARA HOUSE, P.O. PULLAD, KOIPURAM,
PATHANAMTHITTA., PIN - 689548

¶7

BY ADVS.
ANUPAMA SUBRAMANIAN
K.R.SRIPATHI

¶8

RESPONDENT:

¶9

THE THIRUVALLA EAST CO-OPERATIVE BANK LTD.,
REPRESENTED BY THE AUTHORISED OFFICER, HEAD OFFICE,
ERAVIPEROOR, PATHANAMTHITTA., PIN - 689542

¶10

BY ADV T.P.PRADEEP

¶11

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
04.10.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶12

WP(C) NO.2471 OF 2023

¶13

¶14

K.BABU, J.

¶15

W.P.(C).No.2471 of 2023

¶16

Dated this the 04^th day of October, 2023

¶17

J U D G M E N T

¶18

The prayers in this Writ Petition filed under Article 226

¶19

of the Constitution of India are as follows:-

¶20

“a) a. Issue a writ of mandamus or any other appropriate writ, direction or order, directing the respondents to grant the petitioner breathing time and instalment options for the repayment of the amount due.

¶21

b) b. Issue a writ of mandamus or any other appropriate writ, direction or order, directing the respondents to defer the proceedings under Exhibit P1 notice.

¶22

c) To direct the respondent to consider waiving a part of the interest due from the petitioner in the light of their financial crisis.”

¶23

2. Heard both sides.

¶24

3. The learned Standing Counsel for the respondent

¶25

Bank, upon instructions, submits that the Bank is agreeable to

¶26

permit the petitioner to remit the overdue amount in 12 equal monthly instalments.

¶27

¶28

WP(C) NO.2471 OF 2023

¶29

In the above circumstances, the Writ Petition is disposed of with the following directions:-

¶30

(i) Respondent Bank is directed to regularize the loan account by accepting repayment of the entire overdue amount of Rs.18,94,780/along with Bank charges from the petitioner.

¶31

(ii) The petitioner shall remit the overdue amount of Rs. 18,94,780/- together with any accrued interest and charges in 12 equal monthly instalments.

¶32

(iii) The first instlament shall be paid on or before 30.10.2023 and subsequent instalments shall be paid on the last working day of every succeeding month.

¶33

(iv) The petitioner shall continue to pay the regular EMIs in terms of the contract.

¶34

(v) In the event of default of any one instalment, the respondent Bank is entitled to proceed in accordance with law.

¶35

WP(C) NO.2471 OF 2023

¶36

¶37

(vi) The proceedings initiated under the SARFAESI Act against the petitioner shall be kept in abeyance to facilitate repayment as stated above.

Sd/-

K.BABU, JUDGE

SMF

WP(C) NO.2471 OF 2023

¶42

¶43

APPENDIX OF WP(C) 2471/2023

¶44

PETITIONER EXHIBITS

¶45

EXHIBIT P1

¶46

A TRUE COPY OF THE DEMAND NOTICE ISSUED BY
THE RESPONDENT DATED 11.11.2022

¶47

//TRUE COPY// PA TO JUDGE

Sunil Das G, v. the Thiruvalla East Co-Operative Bank Ltd.

Case brief

What is this about?

What did the court decide?

Sunil Das G, v. the Thiruvalla East Co-Operative Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Santhi B., Vs the Branch Manager

Shajida Dileef, Vs Muthoot Housing Finance Company Limited

Hassainar.K., Vs State of Kerala

Nishad, Vs Authorized Officer

Sathyaseelan.D., Vs Kattakada Primary Co-Operative Agricultural and Rural Development Bank T.2037

Narayanan T Vs General Manager