Allowed

Maya Rajeev v. the Manager

Kerala HC25 Mar 2024WP(C)/6150/2024

Case brief

AI extract

What is this about?

This Court, vide order dated 25.03.2024, allowed the writ petition permitting the petitioner to repay the outstanding loan amount of Rs. 31,50,334/- along with interest and charges in 24 equal monthly installments starting from 24.04.2024, pending compliance. The court deferred further action if payments are made, but reserved the right to pursue action upon default.

What did the court decide?

To pay off the outstanding amount of Rs. 31,50,334/- plus interest and charges in 24 equal monthly installments commencing from 24.04.2024.

Maya Rajeev Vs the Manager — 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 25TH DAY OF MARCH 2024 / 5TH CHAITHRA, 1946

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WP(C) NO. 6150 OF 2024

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PETITIONER:

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MAYA RAJEEV, AGED 40 YEARS, W/O RAJEEV R,
UTHRAM NIVAS, PAADIVATTAM, EDAPALLY P O,
ERNAKULAM, PIN – 682024

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BY ADVS.
K.ANAND
BENNY ANTONY PAREL
AMEER SALIM

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RESPONDENTS:

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1 THE MANAGER, VENNALA SERVICE CO- OPERATIVE BANK, NO. E 774, VENNALA P.O., KOCHI, PIN-682028.

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(*THE CAUSETITLE OF R1 IS CORRECTED AS 'THE SECRETARY'
INSTEAD OF 'THE MANAGER' AS PER THE ORDER DATED
19.02.2024 IN I.A.NO.1/2024)

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2SENIOR INSPECTOR/THE SPECIAL SALE OFFICER
(S P GRADE),VENNALA SCB GROUP, OFFICE OF THE
ASSISTANT REGISTRAR (GENERAL), KANAYANNOOR P O,
KOCHI, PIN – 682016

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BY ADVS.
M.PAUL VARGHESE
M.M.MONAYE(K/182/1984) - R1
K.V.SANOSH(K/144/2012)
ANJANA SUGUNAN(K/003577/2022)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WPC 6150/24

JUDGMENT

Though the petitioner seeks a direction to the 1 st respondent

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to permit her to regularise the loan liability availed of from them, w hen this matter was called today, their learned Standing Counsel

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– Sri.M.M.Monaye, submitted that, since his client has already obtained Awards from the competent Authority qua the said account, it can only be allowed to be paid off in full. He added that the total outstanding in the loan account, as of 25.03.2024 comes to Rs.31,50,334/- and that the petitioner can be allowed to pay it off in not more than 24 equal monthly installments.

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2 . Sri.K.Anand – learned counsel for the petitioner ,

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acceded to the afore suggestion.

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In the afore circumstances, I allow this Writ Petition , permitting the petitioner to pay off the aforementioned amount, along with all applicable charges and interest, in 2 4 equal monthly installments commencing from 24.04.2024.

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Needless to say, if the amounts as afore are paid by the petitioner, the account will stand closed and the 1 st respondent will

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WPC 6150/24

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return to her all security documents as are necessary; but, if on the contrary, any two consecutive installments are defaulted, the benefit of this judgment will be lost to her and the 1 st respondent will be at full liberty to pursue further action pursuant to Exts.P1 and P2, without having to obtain further orders from this Court.

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It is also needless to say, therefore, that as long as the amounts as afore are paid, all further action pursuant to Exts.P1 and P2 will stand deferred.

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Sd/-

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RR

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DEVAN RAMACHANDRAN

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JUDGE

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WPC 6150/24

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APPENDIX OF WP(C) 6150/2024

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PETITIONER EXHIBITS
Exhibit P1TRUE COPY OF THE NOTICE DATED 08.02.2024
IN E.P NO. 144/2024 ISSUED BY THE 2ND
RESPONDENT TO THE PETITIONER
Exhibit P2TRUE COPY OF THE ARBITRATION AWARD NO.
843 OF 2023 DATED 08.08.2023 PASSED BY
THE 2ND RESPONDENT

Maya Rajeev v. the Manager

Case brief

What is this about?

What did the court decide?

Maya Rajeev v. the Manager

Case brief

What is this about?

What did the court decide?

What the court decided

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