Allowed

Binu Suresh v. Special Sale Officer

Kerala HC26 Feb 2024WP(C)/2612/2024

Case brief

AI extract

What is this about?

In this writ petition concerning a co-operative bank mortgage, the High Court of Kerala directed the bank to accept the petitioner's repayment through 16 equal monthly instalments and kept coercive proceedings in abeyance pending compliance.

What did the court decide?

Directed the bank to accept repayment of Rs.21,30,792/- in 16 equal monthly instalments; coercive proceedings stayed pending repayment.

Binu Suresh Vs Special Sale Officer — Execution and Attachment | 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 GOPINATH P.

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MONDAY, THE 26TH DAY OF FEBRUARY 2024 / 7TH PHALGUNA, 1945

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WP(C) NO. 2612 OF 2024

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PETITIONER:

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BINU SURESH

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AGED 41 YEARS, W/O.SURESH,
KAILATH HOUSE, ATC ROAD, CHAZHUR, THRISSUR DISTRICT,
PIN – 680 571.

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BY ADVS.

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 C.A.CHACKO
 C.M.CHARISMA
 BABU V.P.
 ABHIRAMI PRASAD

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RESPONDENTS:

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1SPECIAL SALE OFFICER
CHAZHUR SCB GROUP, OFFICE OF THE ASSISTANT REGISTRAR,
CO-OPERATIVE SOCIETIES (GENERAL), THRISSUR,
PIN – 680 641.

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2CHAZHUR SERVICE CO-OPERATIVE BANK LTD. NO.106
CHAZHUR.P.O., THRISSUR, PIN – 680 641,
REPRESENTED BY ITS SECRETARY.

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BY ADV M.SASINDRAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
26.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P (C) No.2612/2024

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J U D G M E N T

Petitioner availed a mortgage loan from the 2^nd respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Kerala State Co-operative Societies Act, 1969, prompting the petitioner to approach this Court by filing the above writ petition.

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The learned counsel appearing for the petitioner submits that the mortgaged property is the residential house of the petitioner. It is submitted that if some reasonable installments are granted, the petitioner will be in a position to clear the liability.

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The learned counsel appearing for the respondent Bank submits that the term of the loan is over and the total outstanding amount as on 24-02-2024 is Rs.21,30,792/-. He submits that the Bank has no objection in some reasonable instalments being granted to the petitioner to clear the liability.

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Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in sixteen (16) equal monthly instalments.

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W.P (C) No.2612/2024

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Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.21,30,792/- along with any accrued interest and bank charges from the petitioner on the following conditions:

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(i) The outstanding amount of Rs.21,30,792/- together with any accrued interest/costs shall be repaid in sixteen (16) equated monthly instalments;

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(ii) The first instalment shall be paid on or before 25-03-2024 and subsequent instalments shall be paid on or before 25^th day of every succeeding months;

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(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

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(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

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The writ petition is disposed of as above.

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Sd/GOPINATH P. JUDGE

ats

W.P (C) No.2612/2024

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APPENDIX OF WP(C) 2612/2024

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PETITIONER”S EXHIBITS

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Exhibit P1TRUE COPY OF AWARD IN ARC.NO.1091/22 DATED
19/4/2022

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Exhibit P2TRUE COPY OF NOTICE ISSUED BY THE 1ST
RESPONDENT DATED 24/11/2023

Binu Suresh v. Special Sale Officer

Case brief

What is this about?

What did the court decide?

Binu Suresh v. Special Sale Officer

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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