Writ petition disposed of directing the petitioner to remit interest of Rs. 5,35,800/- within one month to keep coercive recovery proceedings in abeyance and secure fresh loan disbursal.
Directions issued to pay Rs. 5,35,800/- within one month; coercive proceedings kept in abeyance.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT
THEHONOURABLEMR.JUSTICERAJAVIJAYARAGHAVANV
MONDAY,THE5THDAYOFFEBRUARY2024/16THMAGHA,1945
WP(C)NO.527OF2024
PETITIONER:
REENAK.A
AGED43YEARS
D/O.AUGUSTINE,THEKKEMURI,MADAKKATHANAM,ERNAKULAM
DISTRICT,PIN-686670.
BYADVS.
ABRAHAMTHOMAS(PUTHURAN)
HENABAHULEYAN
RESPONDENTS:
1THEVAZHAKULAMSERVICECO-OPERATIVEBANKLTD.
NO.751,HOVAZHAKULAM,MUVATTUPUZHA,ERNAKULAMDISTRICT-
REPRESENTEDBYITSSECRETARY.,PIN-686670.
2THEVAZHAKULAMSERVICECO-OPERATIVEBANKLTD.751,
MADAKKATHANAMBRANCH,VAZHAKULAMPO,MUVATTUPUZHA,
ERNAKULAMDISTRICT-REPRESENTEDBYITSSECRETARY.,
PIN-686670.
BYADVL.RAMMOHAN
THISWRITPETITION(CIVIL)HAVINGCOMEUPFORADMISSIONON
05.02.2024,THECOURTONTHESAMEDAYDELIVEREDTHEFOLLOWING:
WP(C)NO.527OF2024
2
JUDGMENT
The petitioner states that she availed an OL loan from the 2nd respondent bank in the year 2018 for a sum of Rs.8 lakhs. Immovable property owned by the petitioner was mortgaged for the purpose of securing the loan. It is stated that her son met with an accident, and she
had to spend huge sums for his treatment. This led the petitioner to commit default in paying the installments. She states that she has now been served with Ext.P1 notice threatening the sale of mortgaged property. It is in the afore circumstances that the petitioner has approached this Court seeking directions.
WP(C)NO.527OF2024
3
immovable property.
submits that she is agreeable to pay a sum of Rs.5,35,800/- within a period of one month.
In that view of the matter, this writ petition is disposed of by ordering as under:
a) The petitioner shall remit a sum of Rs.5,35,800/- with the 1st respondent within a period of one month. If the same is remitted, the Bank shall issue a fresh loan for the balance amount on the strength of the very same immovable property.
b) If the amount is paid in terms of the directions above, coercive proceedings initiated against the petitioner shall be kept in abeyance.
c) It is made clear that if the petitioner commits default in complying with the conditions above, the respondents will be free to continue the recovery proceedings against her from the stage at which it presently stands and recover the entire amount along with interest and other charges.
WP(C)NO.527OF2024
4
(v) It is further made clear that no application
for an extension of time will be entertained
Sd/-
RAJA VIJAYARAGHAVAN V JUDGE
Sru
WP(C)NO.527OF2024
5
APPENDIX OF WP(C) 527/2024
PETITION |
ER’S EXHI |
BITS |
|
|---|---|---|---|
Exhibit |
P1 |
A TRUE COPY OF THE BY THE RESPONDENT |
NOTICE DATED 1/1/2024 ISSUEDTO THE PETITIONER. |
Exhibit |
P2 |
A TRUE COPY OF THE SUBMITTED BY THE PRESPONDENT. |
REQUEST DATED 4/1/2024 THUSETITIONER BEFORE THE |
Exhibit |
P3 |
A TRUE COPY OF THE THE PETITIONER. |
VISA ISSUED TO THE SON OF |
1 issue framed by the court
Whether the writ petition seeking stays against the sale of mortgaged property for an OL loan default can be allowed subject to payment of arrears.
REENAK A
THE VAZHAKULAM SERVICE CO-OPERATIVE BANK LTD.
THE VAZHAKULAM SERVICE CO-OPERATIVE BANK LTD 751 MADAKKATHANAM BRANCH
RAJA VIJAYARAGHAVAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court