Disposed

Manoharan Kuniyil Pilakkavi v. Kannur Primary Co-Operative Agricultural and Rural Development Bank Ltd.

Kerala HC12 Feb 2024WP(C)/1171/2024

Case brief

AI extract

What is this about?

A borrower facing sale notices on his mortgaged property for overdue housing loan dues sought permission to pay in installments. The Bank agreed, and the court directed it to issue a statement of dues, allowed payment of the overdue amount in twelve monthly installments with regular installments continuing, and kept coercive recovery proceedings in abeyance so long as payments were made.

What did the court decide?

Directions issued: statement of dues to be provided, overdue payable in 12 monthly installments, coercive proceedings kept in abeyance unless two installments are missed.

Manoharan Kuniyil Pilakkavi Vs Kannur Primary… — Cooperative Societies | Kerala HC (2024)

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INTHEHIGHCOURTOFKERALAATERNAKULAM

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PRESENT

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THEHONOURABLEMR.JUSTICERAJAVIJAYARAGHAVANV

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MONDAY,THE12THDAYOFFEBRUARY2024/23RDMAGHA,1945

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WP(C)NO.1171OF2024

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PETITIONER:

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MANOHARANKUNIYILPILAKKAVI,
AGED63YEARS,S/O.KUNHAPPA,
TANADACHALAEAST,
NOWRESIDINGATPILAKKAVIL,
MOWANCHERY,MUTHUKUTTY,
KANNURDISTRICT,PIN-670613
BYADVS.RAJESHNAMBIAR,
SINDHUK.NAMBIAR

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RESPONDENT:

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KANNURPRIMARYCO-OPERATIVEAGRICULTURALANDRURAL
DEVELOPMENTBANKLTD.NO.C-1006,
TALAP,KANNUR,
REPRESENTEDBYTHEBRANCHMANAGER,
CHAKKARAKALLUBRANCH,
KALYANICOMPLEX,CHAKKARAKKAL,
KANNURDISTRICT,
PIN-670613
BYADVM.SASINDRAN

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SRI.M.SASINDRAN,SCFORKANNURPRIMARYCO-OPERATIVE
AGRICULTURALANDRURALDEVELOPMENTBANK

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THISWRITPETITION(CIVIL)HAVINGCOMEUPFORADMISSIONON
12.02.2024,THECOURTONTHESAMEDAYDELIVEREDTHEFOLLOWING:

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WP(C)NO.1171OF2024

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JUDGMENT

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The petitioner is stated to have availed a housing loan from the respondent Bank. Due to various reasons that could not be foreseen, he was not able to pay the amount on time. He has now been issued with Exts.P1 and P2 notices threatening him that the property mortgaged would be brought to sale if the amounts due are not paid. It is in the afore circumstances that this writ petition is filed seeking to grant permission to the petitioner to pay the overdue amount in installments.

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The learned counsel appearing for the petitioner submitted that the petitioner is prepared to remit the overdue amount in installments and requests that direction be issued to the respondent to regularise the loan account.

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The learned standing Counsel appearing for the respondent

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Bank submits that the total overdue as of date is Rs. 7,35,868/- and the total outstanding amount as of date is Rs. 13.74 lakhs. It is submitted that the Bank is willing to grant the petitioner an opportunity to regularise the loan by paying the overdue amount in not more than ten installments.

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I have considered the submissions advanced.

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From the submissions made by both sides, it appears that the

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total overdue amount as of date due from the petitioner is Rs.7,35,868/-.

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WP(C)NO.1171OF2024

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As the respondent has not objected to granting an installment facility to the petitioner to clear off the dues, I am of the view that necessary directions can be issued to enable the petitioner to clear the overdue amount to the respondent.

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Resultantly, this writ petition is ordered, and the following

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directions are issued:

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(i) The petitioner shall approach the respondent Bank with a request to inform him of the details of the overdue amount, together with interest and other charges due from him in respect of the loan account. If such a request is made within two weeks from the date of receipt of a copy of this judgment, the respondent Bank shall forthwith issue a statement in writing detailing the amount due to clear the overdue amount.

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(ii) On receipt of such a statement, the petitioner shall pay the overdue amount shown therein in twelve (12) equal monthly installments commencing from 15.03.2024 and continue to pay the same on every successive month thereafter until the entire loan is wiped off. In addition, the petitioner shall continue to pay the regular installments as and when the amounts become due.

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(iii) If the amounts are diligently paid in terms of the directions above, coercive proceedings initiated against him by the respondent for the realization of the amount shall be kept in abeyance.

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WP(C)NO.1171OF2024

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(iv) It is made clear that if the petitioner commits default of any two installments, he will lose the benefit of this judgment, and the respondent will be free to continue the recovery proceedings against him from the stage at which he presently stands and recover the entire amount along with interest and other charges.

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(v) It is further made clear that no application for an extension of time will be entertained.

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Sd/-

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RAJA VIJAYARAGHAVAN V JUDGE

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DCS

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WP(C)NO.1171OF2024

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APPENDIX OF WP(C) 1171/2024

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PETITIONEREXHIBITS

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ExhibitP1TRUECOPYOFTHENOTICEDATED28.01.2022ISSUEDBY
THERESPONDENTBANK.
ExhibitP2TRUECOPYOFTHENOTICEDATED23.11.2023ISSUEDBY
THERESPONDENTBANK.

Manoharan Kuniyil Pilakkavi v. Kannur Primary Co-Operative Agricultural and Rural Development Bank Ltd.

Case brief

What is this about?

What did the court decide?

Manoharan Kuniyil Pilakkavi v. Kannur Primary Co-Operative Agricultural and Rural Development Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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