Disposed

Benny Philip v. 1. Anapanthy Service Co-Operative Urban Bank Ltd.

Kerala HC19 Feb 2024WP(C)/1741/2024

Case brief

AI extract

What is this about?

A petitioner who defaulted on agricultural and non-agricultural loans from a co-operative bank faced coercive recovery proceedings. The bank agreed to installment repayment, and the court ordered payment of the outstanding amount in fifteen equal monthly installments with coercive proceedings kept in abeyance if payments are made.

What the court decided

AI extract

Benny Philip Vs 1. Anapanthy Service Co-Operative Urban… — 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 RAJA VIJAYARAGHAVAN V

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MONDAY,THE19THDAYOFFEBRUARY2024/30THMAGHA,1945

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WP(C)NO.1741OF2024

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PETITIONER:

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BENNYPHILIP,AGED49YEARS,S/OPHILIP,
KADUPPILHOUSE,AYYANKUNNU,IRITTYTALUK,
KANNURDISTRICT,PIN-670703

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BYADVSATHEESHANALAKKADAN

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RESPONDENTS:

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1 ANAPANTHY SERVICE CO-OPERATIVE URBAN BANK LTD F-1516, REP BY ITS SECRETARY, ANAPANTHY, KANNUR, PIN - 670706

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2 THE ARBITRATOR/SPECIAL OFFICER, THE ANAPANTHY SERVICE CO-OPERATIVE URBAN BANK LTD, IRITTY, KANNUR DISTRICT, PIN - 670703

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3 SPECIAL SALE OFFICER, OFFICE OF THE ASSISTANT REGISTRAR GENERAL, IRITTY, ANAPANTHY SERVICE CO-OPERATIVE URBAN BANK LTD, KANNUR DISTRICT, PIN - 670703

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BYADVS.

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RAJESHKUMARR.(K/112/2013)
V.R.ANILKUMAR(K/001161/2020)
SARAFUDHEENT.(K/801/2022)

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SMTMBSHYNI,SCFORANAPANTHYSERVICE
CO-OPERATIVEURBANBANK

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THISWRITPETITION(CIVIL)HAVINGCOMEUPFORADMISSIONON
19.02.2024,THECOURTONTHESAMEDAYDELIVEREDTHEFOLLOWING:

WPC 1741 of 2024

JUDGMENT

The petitioner states that he had availed an agricultural loan for a sum of Rs.2 lakhs and a non-agricultural loan for a sum of Rs.16 lakhs from the 1^st respondent bank in the year 2016 by furnishing his immovable property as security. However, due to severe financial crises, he was unable to make timely repayments. Arbitration proceedings were initiated and he has now been served with notice threatening the initiation of coercive proceedings. It is in the afore circumstances that the petitioner has approached this court seeking directions.

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The learned Standing Counsel appearing for the respondents submits that the total outstanding as of date due from the petitioner is about Rs.27,02,940/-. It is submitted that the bank is not averse to granting the petitioner an opportunity to clear the outstanding. However, he submits that not more than eight installments be granted.

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Upon careful consideration of the submissions made by both parties, it is evident that the petitioner owes in excess of Rs.27.02 lakhs to the

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1^st respondent Bank. The respondents, very fairly, have agreed to permit the petitioner to settle these debts through a limited number of installments. As a

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WPC 1741 of 2024

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measure of last resort, I am inclined to issue directions to facilitate the petitioner in discharging his financial obligations to the 1^st respondent. This approach is deemed necessary to provide a structured pathway for the petitioner to clear off his monetary liabilities in a manageable manner.

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Resultantly, this writ petition is ordered, and the following directions are issued:

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(i) The petitioner shall approach the 1^st respondent with a request to inform him of the details of the outstanding 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 1^st respondent shall forthwith issue a statement in writing detailing the amounts.

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(ii) On receipt of such a statement, the petitioner shall pay the amounts shown therein in fifteen (15) equal monthly installments commencing from 15.3.2024 and continue to pay the same on every successive month thereafter until the entire loan is wiped off.

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

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(iv) It is made clear that if the petitioner commits default

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WPC 1741 of 2024

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of any two installments, he will lose the benefit of this judgment, and the concerned respondents 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/- RAJA VIJAYARAGHAVAN V JUDGE

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IAP

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WPC 1741 of 2024

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APPENDIX OF WP(C) 1741/2024

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PETITIONER’SEXHIBITS:

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`Exhibit`	`TRUE COPY OF THE NOTICE DATED 11-07-2023 ISSUED`
`P1`	`BY THE 3RD RESPONDENT TO THE PETITIONER`
`Exhibit`	`TRUE COPY OF THE INTIMATION ISSUED BY THE 3RD`
`P2`	`RESPONDENT DATED 06-01-2024 INFORMING THE` `PETITIONER THAT THEY INTENDED TO SELL THE` `PROPERTY ON 05-02-2024 FOR THE RECOVERY OF THE` `AMOUNT RS.2,86,005 /-`
`Exhibit` `P3`	`TRUE COPY OF THE INTIMATION ISSUED BY THE 3RD` `RESPONDENT DATED 06-01-2024 INFORMING THE` `PETITIONER THAT THEY INTENDED TO SELL THE` `PROPERTY ON 05-02-2024 FOR THE RECOVERY OF THE` `AMOUNT RS.17,96,880/-`

Benny Philip v. 1. Anapanthy Service Co-Operative Urban Bank Ltd.

Case brief

What is this about?

What the court decided

Benny Philip v. 1. Anapanthy Service Co-Operative Urban Bank Ltd.

Case brief

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