Disposed

Soman J v. the Valavoor Service Co-Operative Bank Ltd. No. K 91

Kerala HC22 Jul 2024WP(C)/23967/2024

Case brief

AI extract

What is this about?

Petitioners defaulted on cooperative bank loans secured by mortgage; bank initiated execution and issued demarcation notice. Court disposed writ petition by directing petitioners to pay ₹10 lakh by 31 Aug 2024 and remaining dues in 20 monthly instalments from 30 Sep 2024, keeping coercive steps in abeyance.

What did the court decide?

Petitioners to pay ₹10,00,000 by 31.08.2024 and balance in 20 equal monthly instalments from 30.09.2024; coercive steps stayed during compliance.

Soman J Vs the Valavoor Service Co-Operative Bank… — Execution and Attachment | Kerala HC (2024)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT

¶2

THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN MONDAY, THE 22^ND DAY OF JULY 2024 / 31ST ASHADHA, 1946 WP(C) NO. 23967 OF 2024

¶3

PETITIONERS:

¶4

1 SOMAN .J., AGED 72 YEARS, S/O. JOSEPH E M, CHANDRANKUNNEL HOUSE, BHARANANGANAM KOTTAYAM DISTRICT -, PIN - 686578 2 SANTHAMMA SOMAN, AGED 69 YEARS, W/O. SOMAN J, CHANDRANKUNNEL HOUSE, BHARANANGANAM KOTTAYAM DISTRICT, PIN - 686578 BY ADVS. BINDUMOL JOSEPH RIYAS M.B. ANAGHA P.

¶5

RESPONDENTS:

¶6

1 THE VALAVOOR SERVICE CO-OPERATIVE BANK LTD NO. K 91 REPRESENTED BY THE SECRETARY VALLICHIRA POST, VALAVOOR, KOTTAYAM, PIN - 686635

¶7

2 SPECIAL SALE OFFICER, THE VALAVOOR SERVICE CO-OPERATIVE BANK K 91, ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL) MEENACHIL, PALA KOTTAYAM DISTRICT, PIN - 686575 BY ADVS. Shaji Thomas JEN JAISON THOMASKUTTY SEBASTIAN

¶8

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22.07.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶9

W.P(C)NO.23967 OF 2024

¶10

:-2-:

¶11

SHOBA ANNAMMA EAPEN,J

¶12

W.P(C)NO.23967 OF 2024

¶13

Dated this the 22nd day of July, 2024

¶14

J U D G M E N T

¶15

The above writ petition is filed with the following main prayers:-

¶16

i) Issue a writ of certiorari and quash Exhibit P1 to P3 issued by the respondents as the same are illegal, so as to secure the ends of justice;

¶17

ii) to issue a writ of mandamus directing the respondents to permit the petitioners to discharge the entire liability in 25 monthly instalments ;

¶18

Brief facts leading to the case are as follows:-

¶19

Petitioners, both husband and wife, availed two loans of 16,00,000/- and 25,00,000/- on 29.3.2021 from the first respondent-

¶20

Bank. Loans were agreed to be repaid in 60 equal monthly instalments. First petitioner created mortgage over the property having an extent of 16.50 Ares, 29.09 Ares and 38 Ares comprised in Re.Sy.Nos.169/3,169/6/1 and 169/7 in Meenachil Taluk, Bharananganam Village. Thereafter, the loan was defaulted and the second respondent has initiated arbitration proceedings as ARC Nos.2153/2022 and 2154/2022 and obtained an award. The second respondent has filed execution applications as E.A.Nos.252/2024 and

¶21

W.P(C)NO.23967 OF 2024

¶22

:-3-:

¶23

253/2024 before the second respondent. Thereafter, Exts.P1 and P2 demand notices were issued by the respondent-bank. Since no payment was forthcoming from the petitioners, the respondents proceeded with Ext.P3 notice for demarcation of the properties mortgaged by them. Aggrieved by the same, the petitioners have approached this Court with the above writ petition.

¶24

Heard the learned counsel appearing for the petitioners as well as the learned counsel appearing for the first respondent-bank.

¶25

Learned counsel for the petitioners submits that the petitioners are ready and willing to clear the entire liability if instalment facility is granted. Learned counsel for the first respondent submits that if the petitioners are ready and willing to remit an amount of `25,00,000/within one month, the respondent-bank is ready and willing to regularise the account of the petitioners.

¶26

I have considered the arguments raised by counsel on both sides. Considering the facts and circumstances of the case, I am of the opinion that this writ petition can be disposed of by granting instalment facility to the petitioners to clear off the outstanding dues.

¶27

¶28

:-4-:

¶29

Accordingly the writ petition is disposed of as follows:

¶30

Petitioners are directed to pay ₹10,00,000/- (Rupees Ten Lakh only) on or before 31.08.2024 and the balance amount outstanding in the loan account shall be paid along with interest in twenty equal monthly instalments starting from 30.09.2024.

¶31

In case the petitioners default payment of any one of the instalments as aforesaid, the respondents will be free to proceed with, in accordance with law.

¶32

In order to enable the petitioners to repay the amounts as above, coercive steps shall be kept in abeyance.

¶33

Sd/SHOBA ANNAMMA EAPEN, JUDGE

MBS/

:-5-:

APPENDIX OF WP(C) 23967/2024

¶38

PETITIONERS' EXHIBITS:- Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 19/06/2024 IN E.A. 252/2024 ISSUED TO THE 1 ST PETITIONER Exhibit P2 A TRUE COPY OF THE DEMAND NOTICE DATED 19/06/2024 IN E.A. 253/2024 ISSUED TO THE 2 ND PETITIONER Exhibit P3 A TRUE COPY OF THE NOTICE DATED 19.06.2024 ISSUED BY THE 2 ND RESPONDENT

Soman J v. the Valavoor Service Co-Operative Bank Ltd. No. K 91

Case brief

What is this about?

What did the court decide?

Soman J v. the Valavoor Service Co-Operative Bank Ltd. No. K 91

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

P.J.A Manoj Vs the Commercial Tax Officer

K.Mohanan Vs the Ponnani Municipality

Babu Aliyas Vs Kerala State Electricity Board Ltd.

Dhanesh Vs Biju Mathew

Assistant Executive Engineer Vs Arun R. Chandran

Philomina P.A Vs P.K. Paulose