Writ petition regarding loan account regularisation. Court ordered petitioner to deposit Rs.50,000 by 30.04.2024; upon compliance, bank must allow balance payment in 15 monthly installments and close accounts if no default.
Direction to deposit Rs.50,000 by 30.04.2024; balance to be paid in 15 installments; accounts closed upon compliance.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
MONDAY, THE 1ST DAY OF APRIL 2024 / 12TH CHAITHRA, 1946
WP(C) NO. 2808 OF 2024
PETITIONER:
JISHA JEEVAN
AGED 30 YEARS
D/O NS JAYAJEEVAN, SREECHAKRAM, KANNIMELCHERI, MARUTHADY
P.O., KAVANAD, KOLLAM, PIN - 691003
BY ADV DIVYA B.NAIR
RESPONDENTS:
1 SPECIAL SALE OFFICER COOPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD, T NO. 2039, VARKALA, PIN - 6951412 THE COOPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD REPRESENTED BY ITS SECRETARY, VAKALA, KOLLAM, PIN - 695141BY ADVS.
ARJUN RAGHAVAN(K/1277/2012)
SRI T.R.HARIKUMAR-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
01.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 2808 OF 2024
2
JUDGMENT
The petitioner impugns Ext.P1 and seeks a
direction to the respondents to allow her to pay
off the liability in the loan accounts availed
off by her from the 2nd respondent -
‘Cooperative Agricultural and Rural Development
Bank.' (Bank for short), in 20 equal monthly
installments.
2. However, in response, Sri.T.R.Hairkumar–
learned Standing Counsel for the respondent Bank,
submitted that since the petitioner has not
complied with the interim order granted by this
Court on 23.01.2024, and have refused to remit
the amount of Rs.50,000/- as ordered therein, his
client will be agreeable to grant any further
relief to the petitioner, only if the same is
complied with. He submitted that, therefore, if
the petitioner deposit Rs.50,000/- as ordered by
WP(C) NO. 2808 OF 2024
3
this Court earlier, by the end of this month, she
can be allowed to pay off the overdue in the loan
account in not more than 15 equal monthly
installments so that the said account can then be
regularised. She added that the overdue amount
due from the petitioner as on 30.03.2024, is
Rs.4,90,261/-.
3. Sri.Divya B.Nair – learned counsel for the
petitioner, fully agreed to the afore and prayed
that this Writ Petition be thus ordered.
directing the petitioner to pay an amount of
Rs.50,000/- on or before 30.04.2024; and if this
is complied with, then they will be allowed to
pay off the balance overdue amount in 15 equal
monthly installments, commencing from 01.06.2024,
provided he pays the same along with regular EMIs
without default. If this is done, the Bank shall
WP(C) NO. 2808 OF 2024
4
close the loan accounts and return the security
documents to the petitioner, on proper receipt.
These payments shall be made along with the
regular EMIs, without any default.
Needless to say, if the overdue amount is
paid by the petitioner as afore, his account
will stand regularised; but should he default in
payment of two instalments, as ordered by this
Court, or any of the regular EMIs, then the
benefit of this judgment will be lost to her;
and necessary recovery action can be continued
against her, without the Bank having to obtain
any further orders from this Court.
Sd/-
DEVAN RAMACHANDRAN
JUDGE
SAS
WP(C) NO. 2808 OF 2024
5
APPENDIX OF WP(C) 2808/2024
PETITIONER’S EXHIBITS:
Exhibit P1
TRUE COPY OF THE AUCTION NOTICE DATED
01.01.2024 RECEIVED BY THE PETITIONER FROM THE
1ST RESPONDENT BANK
1 issue framed by the court
Whether the petitioner can pay off the loan liability in equal monthly installments?
JISHA JEEVAN
SPECIAL SALE OFFICER COOPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD
THE COOPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD
DEVAN RAMACHANDRAN
As recorded by the court registry
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