Allowed

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

Kerala HC4 Oct 2023WP(C)/4501/2022

Case brief

AI extract

What is this about?

The Court directed a Bank to accept remittance of a loan repayment from the petitioner in twelve equal monthly installments, stay SARFAESI proceedings, and proceed under this arrangement.

What did the court decide?

Petitioner directed to remit Rs.4,55,580/- in 12 installments. SARFAESI proceedings stayed. Bank to accept repayment.

Sathyaseelan.D., Vs Kattakada Primary Co-Operative… — Banking and Recovery | 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 K. BABU

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WEDNESDAY, THE 4TH DAY OF OCTOBER 2023 / 12TH ASWINA, 1945
WP(C) NO. 4501 OF 2022

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PETITIONER/S:

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SATHYASEELAN.D.,
AGED 53 YEARS
S/O. DANAM, ETHUKKARAVILA KANNERKAL PUTHEN VEEDU,
OTTASEKHARAMANGALAM P.O., KATTAKADA TALUK,
THIRUVANANTHAPURAM DISTRICT 695 125.

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BY ADVS.
G.SUDHEER
T.R.HARIKUMAR
ARJUN RAGHAVAN

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RESPONDENT/S:

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1KATTAKADA PRIMARY CO-OPERATIVE AGRICULTURAL AND
RURAL DEVELOPMENT BANK T.2037,

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REPRESENTED BY THE SECRETARY, CHEMBOOR BRANCH,
OTTASEKHARAMANGALAM P.O., KATTAKADA TALUK,
THIRUVANANTHAPURAM 695 125.

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2THE SALE OFFICER,
KATTAKADA PRIMARY CO OPERATIVE AGRICULTURAL
DEVELOPMENT BANK T. 2037 MALAYINKEEZHU,
MALAYINKEEZHU P.O., THIRUVANANTHAPURAM 695 571.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR

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ADMISSION ON 04.10.2023, THE COURT ON THE SAME DAY DELIVERED
THE FOLLOWING:

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J U D G M E N T

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The prayers in this Writ Petition filed under Article 226 of the

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Constitution of India are as follows:-

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“i) To issue a writ of mandamus or any other appropriate writ order or direction directing the respondents to allow the petitioner to clear the entire dues in 15 equal monthly instalments.

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ii) Stay all further proceedings on Ext.P2 till petitioner clear the entire dues under Ext.P1 loans.

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iii) Such other appropriate writ order or direction as this Honourable Court may deem fit and proper to meet the ends of justice. ”

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Heard both sides.

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3. Upon instructions, the learned Standing Counsel for

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the respondent Bank submitted that the total amount due to the Bank is Rs.4,55,580/- as on 19.09.2023. The Bank is agreeable to permit the petitioner to remit the amount in 12 equal monthly instalments.

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In the above circumstances, the Writ Petition is

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disposed of with the following directions:-

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W.P.(C) No.4501/2022

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(i) The petitioner shall remit the total amount of Rs.4,55,580/- together with any accrued

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interest and charges in twelve equal monthly installments.

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

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(iii) The respondent Bank shall accept the loan amount from the petitioner as stated above.

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

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(v) The proceedings initiated under the SARFAESI

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Act against the petitioner shall be kept in abeyance to facilitate repayment as stated above.

K.BABU, JUDGE

jsr/

W.P.(C) No.4501/2022

APPENDIX OF WP(C) 4501/2022

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PETITIONER EXHIBITS
Exhibit P1TRUE COPY OF THE LOAN PASSBOOK OF THE
PETITIONER ISSUED BY THE RESPONDENT
BANK.
Exhibit P2TRUE COPY OF THE SALE NOTICE ISSUED BY
THE 2ND RESPONDENT TO THE PETITIONER
DATED 15.1.2022.

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

Case brief

What is this about?

What did the court decide?

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

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

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