Disposed

K.C. Thomas v. the Mundiappally Co-Operative Bank Ltd. NO.A9

Kerala HC3 Apr 2024WP(C)/40/2024

Case brief

AI extract

What is this about?

A borrower sought to repay a co-operative bank loan in 18 equal monthly installments. The Court directed payment of Rs.2 lakhs by 30.04.2024, failing which recovery proceedings could resume; sale proceedings deferred on compliance.

What did the court decide?

Direction to allow repayment of Rs.2 lakhs by 30.04.2024 and balance in 18 equal monthly installments from 15.06.2024; sale proceedings deferred on compliance.

K.C. Thomas Vs the Mundiappally Co-Operative Bank Ltd… — Cooperative Societies | Kerala HC (2024)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN

¶4

WEDNESDAY, THE 3^RD DAY OF APRIL 2024 / 14TH CHAITHRA, 1946 WP(C) NO. 40 OF 2024

¶5

PETITIONER:

¶6

K.C. THOMAS AGED 66 YEARS, S/O K.C. CHACKO, KULANGARA THEKKENAMPOYKAYAIL, KUNNATHANAM.P.O., PATHANAMTHITTA - 689581 BY ADVS. K.G.CLEETUS N.V.PAUL

¶7

RESPONDENTS:

¶8

1 THE MUNDIAPPALLY CO-OPERATIVE BANK LTD. NO.A9, MUNDIAPPALLY.P.O., THIRUVALLA, PATHANAMTHITTA, PIN – 689581 REPRESENTED BY ITS SECRETARY

¶9

2 SECRETARY THE MUNDIAPPALLY CO-OPERATIVE BANK LTD. NO.A9, MUNDIAPPALLY.P.O., THIRUVALLA, PATHANAMTHITTA, PIN - 689581 3 THE SPECIAL SALE OFFICER THIRUVALLA SERVICE CO-OPERATIVE BANK GROUP, OFFICE OF CO-OPERATIVE SOCIETY ASSISTANT REGISTRAR (GENERAL), THIRUVALLA, PATHANAMTHITTA, PIN - 689101 BY ADV. SRI.VISHNU B.KURUP

¶10

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶11

W.P.(C) No.40 of 2024

¶12

: 2 :

¶13

JUDGMENT

¶14

The petitioner seeks a direction to the respondents to allow him to pay off the liability in the loan account availed off by him from the 1^st respondent Bank, in 18 equal monthly installments.

¶15

However, in response, Sri.Vishnu Kurup – learned Standing Counsel for the respondent Bank, submitted that since the petitioner has not complied with the interim order granted by this Court on 08.01.2024, and have refused to remit the amount of Rs.2 lakhs 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 deposits Rs.2 lakhs as ordered by this Court earlier, by the end of this month, he can be allowed to pay off the balance in the loan account in not more than 18 equal monthly installments. He added that the total outstanding sum, due from the petitioner as on 02.04.2024, is Rs.30,60,928/-.

¶16

Sri.K.G.Cleetus – learned counsel for the petitioner, fully agreed to the afore and prayed that this Writ Petition be thus ordered.

¶17

This Writ Petition is thus disposed of, directing the petitioner to pay an amount of Rs.2 lakhs on or before 30.04.2024; and if this is complied with, then he will be allowed to pay off the balance outstanding amount, along with all applicable charges and interest,

¶18

W.P.(C) No.40 of 2024

¶19

: 3 :

¶20

in 18 equal monthly installments, commencing from 15.06.2024. If this is done, the Bank shall close the loan account and return the security documents to the petitioner, on proper receipt.

¶21

Needless to say, as long as the petitioner pays as per the above directions, all further proceedings to sell the property of the petitioner will stand deferred; but if he defaults payment of the 1^st installment or any two other consecutive installments as ordered above, the Bank will be at full liberty to invoke appropriate remedies for recovery of the total balance amount as per law, without having to obtain any further orders from this Court.

¶22

Sd/DEVAN RAMACHANDRAN JUDGE

¶23

anm

¶24

W.P.(C) No.40 of 2024

¶25

: 4 :

¶26

APPENDIX OF WP(C) 40/2024

¶27

PETITION	ER EXHI	BITS
Exhibit	P1	TRUE COPY	OF THE S	ALE DEED NO.10/2007
		DATED 2.1 EXECUTED I	.2007 OF N THE NAME	S.R.O., MALLAPPALLY OF PETITIONER
Exhibit	P2	TRUE COPY	OF THE AWA	RD DATED 29.4.2021 IN
		FILE NO.2	01/2020 O	N THE FILE OF CO-
		OPERATIVE EXECUTION	SOCIETIE INSPECTOR	S ARBITRATION AND
Exhibit	P3	TRUE COPY NO.201/202	OF THE 0 DATED 24	NOTICE IN AWARD .7.2023 ISSUED BY THE
		3RD RESPO ATTACHMENT	NDENT TO /SALE	THE PETITIONER FOR
Exhibit	P4	TRUE COPY	OF THE	APPLICATION DATED
		1.8.2023 S RESPONDENT	ENT BY PE BANK	TITIONER TO THE 1ST
Exhibit	P5	TRUE COPY ISSUED BY PETITIONER	OF THE NOT THE 3RD	ICE DATED 11.12.2023 RESPONDENT TO THE

¶28

RESPONDENTS' EXHIBITS : NIL.

K.C. Thomas v. the Mundiappally Co-Operative Bank Ltd. NO.A9

Case brief

What is this about?

What did the court decide?

K.C. Thomas v. the Mundiappally Co-Operative Bank Ltd. NO.A9

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

Lissy Vs the Joint Registrar for Co. Operative Society (General)

Beena Vs Thaikkad Service Co-Operative Bank

Pushpakaran Vs Thaikkad Service Co-Operative Bank

Premkumar Vs the Mundiappally Service Co-Operative Bank Ltd. NO.A9

Sijeesh M.P Vs Shaji K.H

T.K. Pradeep Kumar Vs Karannur Service Co-Operative Bank Ltd.