Disposed

Rajesh Kumar K.R. v. the Joint Registrar (General) of Co-Operative Societies

Kerala HC5 Feb 2024WP(C)/4909/2021

Case brief

AI extract

What is this about?

Writ petition challenging a co-operative bank's recovery proceedings for loan dues. The court granted six months to repay Rs.40,60,481 in six monthly instalments, kept coercive proceedings in abeyance, and allowed the bank to proceed if any instalment defaulted.

What did the court decide?

Six months to pay Rs.40,60,481 plus interest/charges in six EMIs from 29.02.2024; coercive proceedings kept in abeyance; bank free to proceed on default of any instalment.

Rajesh Kumar K.R. Vs the Joint Registrar (General) of… — Cooperative Societies | 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 5TH DAY OF FEBRUARY 2024 / 16TH MAGHA, 1945

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WP(C) NO. 4909 OF 2021

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PETITIONER/S:

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1RAJESH KUMAR K.R., AGED 41 YEARS
S/O. RAJENDRAN PILLAI, NAMBIYARETHU VADAKKATHIL,
TRIPERUMTHURA VILLAGE, MAVELIKKARA, ALAPPUZHA DISTRICT.

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2RADHESH, AGED 52 YEARS
S/O. GOPINATHAN NAIR, KANNANNOR DEVI SADANAM,
TRIPERUMTHURA VILLAGE, MAVELIKKARA, ALAPPUZHA DISTRICT.
BY ADV M.G.SREEJITH

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RESPONDENT/S:

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1THE JOINT REGISTRAR (GENERAL) OF CO-OPERATIVE
SOCIETIES,
TRIVANDRUM, 605036.
2THE SPECIAL SALE OFFICER
ARBITRATION AND EXECUTION, ASSISTANT REGISTRAR
(GENERAL) OFFICE, MAVELIKARA, ALAPPUZHA DISTRICT -
690101.
3THE MAVELIKKARA TALUK CO-OPERATIVE BANK.
REPRESENTED BY THE SECRETARY, MAVELIKARA,
ALAPPUZHA - 690101.
BY ADVS.
SRI.B.ASHOK SHENOY
SRI.RIYAL DEVASSY
SRI.P.S.GIREESH
SHRI.DR.ABHILASH O.U.
SHRI.ARJUN R NAIK
SHRI. VENUGOPAL V - GP

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 4909 OF 2021 2

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JUDGMENT

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This writ petition has been filed, challenging recovery proceedings initiated by the Mavelikara Taluk Co-operative Bank to recover amounts due under a loan availed by the petitioners.

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From the averments in the writ petition and the second prayer in the writ petition, it appears that the only relief that can be granted is some time to the petitioners to repay the liability. This Court, by order dated 25.02.2021, had stayed the coercive proceedings on condition that the petitioner shall deposit a sum of Rs.3,00,000/- (Rupees Three lakhs only) within one month. When the matter was considered on 25.03.2021, it is submitted that the condition in the interim order had not been complied with and this Court vacated the interim order dated 25.02.2021 and respondent is given the liberty to proceed with the execution proceedings. On 10.04.2021 (as per Exts.P4), the petitioners had remitted an amount of Rs.1,00,000/- towards the loan liability and this Court, by order dated 29.09.2021, granted an interim stay of the proceedings for a period of one month on condition that the petitioners shall pay a further amount of Rs.2,00,000/- within three weeks.

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WP(C) NO. 4909 OF 2021 3

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Learned counsel appearing for the respondent bank would submit that the order dated 29.09.2021 has not been complied with. It is submitted that, as on today (05.02.2024) the total amount due from the petitioner towards the loan liability is Rs.40,60,481/- (Rupees Forty lakhs sixty thousand four hundred and eighty one only).

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Though the petitioners have not demonstrated bona fides as they failed to deposit the amount directed to be paid as per order dated 29.09.2021, having regard to the facts and circumstances of the case and purely, as a matter of indulgence, the petitioner is granted six months time from today to pay the amount of Rs.40,60,481/- (Rupees Forty lakhs sixty thousand four hundred and eighty one only).

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Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.40,60,481/- (Rupees Forty lakhs sixty thousand four hundred and eighty one only) along with accrued interest and bank charges from the petitioners in the following manner:

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(i) The outstanding amount of Rs.40,60,481/- (Rupees Forty lakhs sixty thousand four hundred and eighty one only) shall be repaid in six equated monthly instalments along with any accrued interest/costs;

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WP(C) NO. 4909 OF 2021 4

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(ii) The first instalment shall be paid on or before 29.02.2024 and the subsequent instalments shall be paid on or before the last working day of the 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 petitioners 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

ajt

WP(C) NO. 4909 OF 2021 5

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APPENDIX OF WP(C) 4909/2021

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PETITIONER EXHIBITS
EXHIBIT P1TRUE COPY OF THE DEMAND NOTICE NO.E.A 201/18,
DATED 31.12.2020 ISSUED BY THE 2ND RESPONDENT
TO THE 1ST PETITIONER.
EXHIBIT P2TRUE COPY OF THE SALE NOTICE NO. E.P 201/18
DATED 15.02.2021 ISSUED BY THE 2ND RESPONDENT
TO THE 1ST PETITIONER.
EXHIBIT P3TRUE COPY OF THE SALE NOTICE NO. E.P 201/18
DATED 15.02.2021 ISSUED BY THE 2ND RESPONDENT
TO THE 2ND PETITIONER.

Rajesh Kumar K.R. v. the Joint Registrar (General) of Co-Operative Societies

Case brief

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Rajesh Kumar K.R. v. the Joint Registrar (General) of Co-Operative Societies

Case brief

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What did the court decide?

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