Allowed

Narayanankutty, v. the Shoranur Urban Co-Operative Bank Ltd.

Kerala HC4 Apr 2023WP(C)/4439/2023

Case brief

AI extract

What is this about?

The High Court of Kerala disposed of a writ petition where the petitioner sought regularization of an overdue loan account pending payment of dues in instalments.

What did the court decide?

Petitioner directed to pay overdue amount of Rs.5,34,742/- in 10 equal monthly instalments; coercive recovery steps kept in abeyance; account to be regularised after clearing overdue.

Narayanankutty, Vs the Shoranur 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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TUESDAY, THE 4^TH DAY OF APRIL 2023 / 14TH CHAITHRA, 1945

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WP(C) NO. 4439 OF 2023

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PETITIONER:

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NARAYANANKUTTY, S/o.VELAYUDHAN, AGED 58 YEARS KAKKATTUTHODY (H), KANAYAM(P.O), SHORANUR, PALAKKAD, KERALA -679122

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BY ADV AJITH M. JIJI

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RESPONDENT:

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THE SHORANUR URBAN CO-OPERATIVE BANK LTD., REPRESENTED BY THE AUTHORIZED OFFICER, SHORANUR, PALAKKAD, KERALA -679121

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BY ADV P.P.THAJUDEEN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 4439 OF 2023 2

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T.R. RAVI, J.

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W.P.(C).No.4439 of 2023

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-------------------------------------------Dated this the 4^th day of April, 2023

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JUDGMENT

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The prayer in the writ petition is to permit the petitioner to pay off the overdue amounts in the loan account availed from the respondent in easy instalments and to regularise the loan account. The Standing Counsel on instructions submits that the overdue amount is Rs.5,34,742/-.

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In the above circumstances, the writ petition is disposed of directing the petitioner to pay off the overdue amount of Rs.5,34,742/- in 10 equal monthly instalments, the first instalment falling due on or before 04.05.2023 and the subsequent instalments falling due on or before the 4^th of the succeeding months. The petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioner pays the entire overdue amount, the respondent shall regularise the loan account. If the petitioner makes a single default in the payment of instalments, the respondent will be at liberty to continue with coercive steps for recovery. The coercive steps initiated

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WP(C) NO. 4439 OF 2023 3

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shall be kept in abeyance to facilitate the payment of instalments as

directed above.

Sd/-

T.R.RAVI JUDGE

LEK

WP(C) NO. 4439 OF 2023 4

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APPENDIX OF WP(C) 4439/2023

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PETITIONER EXHIBITS

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Exhibit -P1 TRUE COPY OF THE SAID DEMAND NOTICE DATED 24.01.2023 ISSUED ON THE PETITIONER BY THE RESPONDENT BANK Exhibit -P2 TRUE COPY OF THE REQUEST LETTER DATED 05.02.2023 SUBMITTED BY THE PETITIONER TO THE RESPONDENT

Narayanankutty, v. the Shoranur Urban Co-Operative Bank Ltd.

Case brief

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Narayanankutty, v. the Shoranur Urban Co-Operative Bank Ltd.

Case brief

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