Allowed

Thomas Michael, v. the Special Sale Officer

Kerala HC1 Apr 2024WP(C)/2694/2024

Case brief

AI extract

What is this about?

The High Court of Kerala allowed a writ petition filed by a loan defaulter. The Court permitted the petitioner to repay the settled loan amount in 20 equal monthly installments starting June 1, 2024, preventing further recovery actions under the sale notice. Default on installments would restore the Bank's right to pursue Ext.P4.

What did the court decide?

Petitioner permitted to repay the settled loan amount in 20 equal monthly installments commencing from 01.06.2024, with default on two installments leading to revocation of the interim relief and exec

Thomas Michael, Vs the Special Sale Officer — Banking and Recovery | 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 1ST DAY OF APRIL 2024 / 12TH CHAITHRA, 1946

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WP(C) NO. 2694 OF 2024

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PETITIONER:

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THOMAS MICHAEL,
AGED 65 YEARS,
S/O MICHAEL, PULIKKAL HOUSE, KUZHIKKANAM, EZHUKUMVAYAL,
KALKOONTHAL, IDUKKI., PIN - 685553

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BY ADVS.

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GEORGE SEBASTIAN
DHANANJAY DEEPAK

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RESPONDENTS:

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1 THE SPECIAL SALE OFFICER, MALANAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LIMITED,NEDUMKANDAM, OFFICE OF THE ASSISTANT REGISTRAR OF COOPERATIVE SOCIETIES UDUMBANCHOLA, NEDUMKANDAM, IDUKKI DISTRICT, PIN - 685554

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2 THE MALANAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LIMITED, NEDUMKANDAM, IDUKKI DISTRICT, REPRESENTED BY ITS SECRETARY., PIN - 685553

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3THE BRANCH MANAGER,
MALANAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT
BANK LIMITED, NEDUMKANDAM, IDUKKI DISTRICT, PIN - 685553
BY ADVS.
JASMINE V.H.
RAHMATH C.A.(K/845/2004)
THOMAS P.MATHEWS(K/1059/2006)
SUMAYYA K.B.(K/1752/2023)
SATHEESH P. MATHEWS(K/003584/2023)

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SMT C S SHEEJA-SR.GP; SMT V H JASMINE-SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 2694 OF 2024

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JUDGMENT

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When this matter was called today, the

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learned Standing Counsel for the 1st respondent –
Malanad Co-operative Agricultural and Rural
Development Bank, (‘Bank’ for short), submitted
that the loan account of the petitioner involved
in this case can be settled for a total amount
of Rs.11,59,116/-, as on 03.02.2024, out of
which Rs.1,00,000/- has been paid by the

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petitioner in compliance of the interim order of
this Court. He submitted that the petitioner is
willing to pay the afore amount, along with all
applicable charges and interest in not more than
20 equal monthly installments starting from
01.06.2024.

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2.The learned counsel for the petitioner -

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WP(C) NO. 2694 OF 2024

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Sri.George Sebastian, accepted the afore

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suggestion.

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Taking note of the afore submissions and in
order to obtain a balance between the rival
interests of the parties, I allow this writ
petition, permitting the petitioner to pay off
the aforementioned amount, after deducting the
amount paid in compliance of the interim order
of the Court, along with all applicable charges
and interest, in 20 equal monthly installments
commencing from 01.06.2024.

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Needless to say, if the amounts as afore are
paid by the petitioner, the account will stand
closed and the Bank will return to him all
security documents as are necessary; but, if on
the contrary, any two instalments are defaulted,
the benefit of this judgment will be lost to him

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WP(C) NO. 2694 OF 2024

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and the Bank will be at full liberty to pursue
further action pursuant to Ext.P4, without
having to obtain further orders from this Court.

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It is also without requirement to say,
therefore, that as long as the amounts as afore
are paid, all further action pursuant to Ext.P4
will stand deferred.

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Sd/-

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DEVAN RAMACHANDRAN

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JUDGE

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SAS

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WP(C) NO. 2694 OF 2024

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APPENDIX OF WP(C) 2694/2024

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`PETITIONER EXHIBITS`
`Exhibit P1` `A` `22` `VI`	`TRUE` `.11.20` `LLAGE`	`COPY OF T` `17 ISSUED` `OFFICE KALK`	`HE LAND TAX RECEIPT DATED` `TO THE PETITIONER FROM` `OONTHAL`
`Exhibit P2` `A` `05` `VI`	`TRUE` `.12.20` `LLAGE`	`COPY OF T` `17 ISSUED` `OFFICE KALK`	`HE LAND TAX RECEIPT DATED` `TO THE PETITIONER FROM` `OONTHAL`
`Exhibit P3` `A` `07` `RE`	`TRUE` `.06.20` `SPONDE`	`COPY OF` `23 ISSUED T` `NT`	`THE DEMAND NOTICE DATED` `O THE PETITIONER BY THE 2ND`
`Exhibit P4` `A` `23` `RE`	`TRUE` `.12.20` `SPONDE`	`COPY OF` `23 ISSUED` `NT`	`THE SALE NOTICE DATED` `TO THE PETITIONER BY 1ST`
`Exhibit P5` `A` `07`	`TRUE` `.11.20`	`COPY OF` `23`	`THE LOAN RECEIPT DATED`
`Exhibit P6` `A` `BY` `NE`	`TRUE` `THE` `DUMKAN`	`COPY OF THE` `TALUK` `DAM, IDUKKI`	`MEDICAL CERTIFICATE ISSUED` `HEAD QUARTERS HOSPITAL,` `DISTRICT DATED 22.06.2022`

Thomas Michael, v. the Special Sale Officer

Case brief

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Thomas Michael, v. the Special Sale Officer

Case brief

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