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Sailaja.N.K v. the Kerala State Co-Operative Bank Limited

Kerala HC10 Feb 2023WP(C)/4576/2023

Case brief

AI extract

What is this about?

This High Court disposed of a writ petition seeking relief from overdue loan amounts. The court directed petitioners to clear the overdue sum in 12 monthly instalments while keeping coercive recovery steps in abeyance until compliance was secured.

What did the court decide?

Directing petitioners to pay the overdue amount of Rs.13,94,107/- in 12 equal monthly instalments.

Sailaja.N.K Vs the Kerala State Co-Operative… — 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 10TH DAY OF FEBRUARY 2023 / 21ST MAGHA, 1944

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WP(C) NO. 4576 OF 2023

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PETITIONERS:

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1SAILAJA.N.K
AGED 54 YEARS, W/O ABHIMANYU
KALLUTTIVAYAL PARAMBU, VENGERI.P.O., KOZHIKODE – 673010.

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2 THANGHAMANI

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W/O RAMACHANDRAN, THAADAYIL HOUSE, VALIYAPARAMBHIL P.O,
KOZHIKODE – 673572.

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BY ADVS.
R.SUDHISH
M.MANJU

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RESPONDENT:

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THE KERALA STATE CO-OPERATIVE BANK LIMITED
REPRESENTED BY AUTHORISED OFFICER, KOZHIKODE REGIONAL
OFFICE, KALLAI ROAD, CHALAPPURAM.P.O.,
KOZHIKODE – 673002.

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BY ADV P.C.SASIDHARAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 4576 OF 2023

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T.R. RAVI, J.

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-------------------------------------------- W.P.(C) No.4576 of 2023

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Dated this the 10^th day of February, 2023

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JUDGMENT

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The prayer in the writ petition is to permit the petitioners 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.13,94,107/-.

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In the above circumstances, the writ petition is disposed of directing the petitioners to pay off the overdue amount of Rs.13,94,107/- in 12 equal monthly instalments, the first instalment falling due on or before 28.02.2023 and the subsequent instalments falling due on or before the 28^th of the succeeding months. The petitioners shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioners pay the entire overdue amount, the respondent shall regularise the loan

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WP(C) NO. 4576 OF 2023

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account. If the petitioners make two consecutive defaults in the payment of instalments, the respondent will be at liberty to continue with coercive steps for recovery. The coercive steps initiated shall be kept in abeyance to facilitate the payment of instalments as directed above.

Sd/-

T.R.RAVI JUDGE

mpm

WP(C) NO. 4576 OF 2023

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APPENDIX OF WP(C) 4576/2023

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PETITIONERS’ EXHIBITS

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Exhibit P1COPY OF THE BILL RECEIPT OF THE INITIAL
PAYMENT ON 18/02/2020.

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Exhibit P2COPY OF THE NOTICE DATED 26/10/2022 ISSUED
BY THE RESPONDENT TO THE PETITIONERS.
Exhibit P3COPY OF THE NOTICE FOR SALE DATED
11/01/2023 BY THE RESPONDENT TO THE
PETITIONERS.

Sailaja.N.K v. the Kerala State Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

Sailaja.N.K v. the Kerala State Co-Operative Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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