Allowed

Satheesh Kumar.E., v. Feroke Co-Operative Urban Bank Ltd, Feroke Main Branch, Represented by Its Branch Manager.

Kerala HC12 Apr 2023WP(C)/8133/2023

Case brief

AI extract

What is this about?

The Kerala High Court disposed of a writ petition allowing a defaulting loan borrower to repay the overdue amount in 15 equal monthly instalments, provided he regularizes the account and makes only one further payment default. Recovery proceedings were kept in abeyance.

What did the court decide?

Petitioner permitted to pay overdue amount in 15 equal monthly instalments. Loan account to be regularized upon full payment. Recovery steps kept in abeyance pending performance.

Satheesh Kumar.E., Vs Feroke Co-Operative… — Contract and Commercial Disputes | Kerala HC (2023)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE T.R.RAVI

¶4

WEDNESDAY, THE 12^TH DAY OF APRIL 2023 / 22ND CHAITHRA, 1945

¶5

WP(C) NO. 8133 OF 2023

¶6

PETITIONER:

¶7

SATHEESH KUMAR.E., AGED 53 YEARS, SON OF AYYAPPAN, RESIDING AT KKP HOUSE, PUTTEEKKADU, FEROKE POST, KOZHIKODE, PIN - 673631

¶8

BY ADV JACOB ABRAHAM

¶9

RESPONDENT:

¶10

FEROKE CO-OPERATIVE URBAN BANK LTD, FEROKE MAIN BRANCH, REPRESENTED BY ITS BRANCH MANAGER. BUS STAND BUILDING, FEROKE, KOZHIKODE, PIN - 673671

¶11

BY ADVS. S.K.SAJU PRANAV

¶12

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶13

WP(C) NO. 8133 OF 2023

¶14

¶15

T.R. RAVI, J.

¶16

W. P. (C). No .8133 of 2023

¶17

Dated this the 12^th day of April, 2023

¶18

JUDGMENT

¶19

The petitioner has approached this Court seeking permission to pay off the amounts due to the respondent Bank in easy instalments. The counsel for the respondent on instructions submits that the overdue amount comes to ₹3,71,493/- and the loan period is available till 2028.

¶20

In the above circumstances, this writ petition is disposed of permitting the petitioner to pay off the overdue amount in 15 equal monthly instalments, the 1st instalment falling due on or before 12.05.2023 and the subsequent instalments falling due on or before 12 th of the succeeding months. The petitioner shall pay the regular monthly instalments along with the instalments towards the overdue amounts. If the petitioner pays the entire instalments as directed above, the respondents shall regularise the loan account. If the petitioner makes two defaults in payment of instalments, the respondents are at liberty to proceed with the recovery. Steps for recovery shall be kept in abeyance

¶21

to facilitate the payment of instalments. Sd/-

¶22

T.R. RAVI JUDGE

¶23

¶24

WP(C) NO. 8133 OF 2023

¶25

¶26

APPENDIX OF WP(C) 8133/2023

¶27

PETITIONER'S EXHIBITS

¶28

Exhibit P1 THE TRUE COPY OF THE LOAN LEDGER RELATING TO THE PETITIONER AND MAINTAINED BY THE RESPONDENT BANK. Exhibit P2 RECEIPT FOR RS.1,50,000/- DT 9.1.2023 ISSUED BY THE BANK TO THE PETITIONER. Exhibit P3 RECEIPT FOR RS.2,50,000/ DT 21.2.2023 ISSUED BY THE BANK TO THE PETITIONER. Exhibit P4 NOTICE-DATED 6.3.2023 ISSUED BY ASHA ANTONY, ADVOCATE COMMISSIONER APPOINTED BY THE CHIEF JUDICIAL MAGISTRATE, KOZHIKODE IN C.M.P. NO.1890 OF 2022 TO THE PETITIONER.

Satheesh Kumar.E., v. Feroke Co-Operative Urban Bank Ltd, Feroke Main Branch, Represented by Its Branch Manager.

Case brief

What is this about?

What did the court decide?

Satheesh Kumar.E., v. Feroke Co-Operative Urban Bank Ltd, Feroke Main Branch, Represented by Its Branch Manager.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Abdul Rahim P.K., Vs the Federal Bank Ltd.

Hazim M K Vs Indian Bank

C.K Prakashan Vs Punjab National Bank

Abbas Pulparambil, Vs Idfc First Bank

Sanjose.D, Vs State Bank of India

K.P. Pushpa, Vs the Authorised Officer