Disposed

Swathisree.G v. Vazhappally Service Co-Operative Bank LTD.NO.108

Kerala HC25 Mar 2024WP(C)/1615/2024

Case brief

AI extract

What is this about?

A writ petition against a co-operative bank's auction/sale proclamation notices over a loan default was disposed of on consent: the petitioner was allowed to clear the total outstanding of Rs.7,73,361/- in 12 equal monthly installments, upon which the bank must close the account and return security documents; action on the notices stands deferred unless she defaults.

What did the court decide?

Liberty to pay Rs.7,73,361/- in 12 equal monthly installments; bank to close loan account and return security documents; Exts.P1-P4 action deferred during payment.

Swathisree.G Vs Vazhappally Service Co-Operative Bank… — Cooperative Societies | Kerala HC (2024)

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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 DEVAN RAMACHANDRAN

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MONDAY, THE 25^TH DAY OF MARCH 2024 / 5TH CHAITHRA, 1946 WP(C) NO. 1615 OF 2024

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PETITIONER:

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SWATHISREE.G AGED 38 YEARS, W/O.SREEKUMAR.T, KUNNEL HOUSE, VAZHAPPALLY.P.O., CHANGANACHERRY 3, KOTTAYAM DISTRICT - 6806103. NOW RESIDING AT NKBM HOUSING COMPLEX, DOOR NO.15 THEERTHAMKARA.P.O., PADNAKKAD, KANHANGAD, KASARGOD DISTRICT., PIN - 671314 BY ADVS. LINDONS C.DAVIS E.U.DHANYA N.S.SHAMILA CHINJU P. JOYIES

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RESPONDENTS:

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1 VAZHAPPALLY SERVICE CO-OPERATIVE BANK LTD.NO.108,, REPRESENTED BY ITS SECRETARY, VAZHAPPALLY.P.O., THRISSUR, PIN - 686103

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2 ASSISTANT REGISTRAR (GENERAL) OFFICE OF ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, CHANGANACHERRY, KOTTAYAM, PIN - 686101

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3 SPECIAL SALE OFFICER, VAZHAPPALLY SERVICE CO-OPERATIVE BANK GROUP, OFFICE OF ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, CHANGANACHERRY, KOTTAYAM, PIN - 686101 BY ADVS. SRI.SHIBU JOSEPH SMT.MABLE C.KURIAN – SR.GP

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C) No.1615 of 2024

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: 2 :

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JUDGMENT

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When this matter was called today, Sri.Shibu Joseph – learned counsel for “Vazhappally Service Co-operative Bank Ltd.” ('Bank' for short), submitted that, the total outstanding in the Loan Account of the petitioner, as on 25.03.2024, is Rs.7,73,361/-; and that if she is willing to pay the same in not more than 12 equal monthly installments, his client will not stand in the way of this Court disposing of this writ petition on such terms.

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Sri.Lindons C.Davis – learned counsel for the petitioner, fully agreed to the afore and prayed that this writ petition be thus ordered.

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In the afore circumstances, I allow this writ petition, granting liberty to the petitioner to pay the total outstanding amount in the Loan Account, namely, Rs.7,73,361/- as on 25.03.2024, with all applicable charges and interest, in 12 equal monthly installments commencing from 25.04.2024 . If this is done, the Bank shall close the loan account and return the security documents to her, on proper receipt.

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Needless to say, as long as the petitioner pays as per the above directions, all further action pursuant to Exts.P1 to P4 will stand deferred; but if she defaults payment of any two consecutive

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W.P.(C) No.1615 of 2024

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: 3 :

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installments as ordered above, the Bank will be at full liberty to invoke appropriate remedies for recovery of the total balance amount as per law, without having to obtain any further orders from this Court.

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Sd/DEVAN RAMACHANDRAN JUDGE

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anm

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W.P.(C) No.1615 of 2024

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: 4 :

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APPENDIX OF WP(C) 1615/2024

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PETITIONER EXHIBITS

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Exhibit P1 A COPY OF THE FORM 8 SALE PROCLAMATION NOTICE DATED 15.12.2023 AS PER RULE 81 (E) OF CO-OPERATIVE SOCIETIES ACT, ISSUED BY THE 3RD RESPONDENT Exhibit P2 A COPY OF THE FORM-9 AUCTION NOTICE TO THE OWNER AND DEFAULTER DATED 15.12.2023 AS PER RULE 81 (E) OF CO-OPERATIVE SOCIETIES AC, ISSUED BY THE 3RD RESPONDENT Exhibit P3 A COPY OF THE FORM 8 SALE PROCLAMATION NOTICE DATED 15.12.2023 AS PER RULE 81 (E) OF CO-OPERATIVE SOCIETIES ACT, ISSUED BY THE 3RD RESPONDENT TO GOPALAKRISHNAN. Exhibit P4 A COPY OF THE FORM-9 AUCTION NOTICE TO THE OWNER AND DEFAULTER DATED 15.12.2023 AS PER RULE 81 (E) OF CO-OPERATIVE SOCIETIES ACT, ISSUED BY THE 3RD RESPONDENT TO GOPALAKRISHNAN.

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RESPONDENTS' EXHIBITS : NIL.

Swathisree.G v. Vazhappally Service Co-Operative Bank LTD.NO.108

Case brief

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Swathisree.G v. Vazhappally Service Co-Operative Bank LTD.NO.108

Case brief

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What did the court decide?

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