Kakkatt Radha, v. the Kerala State Co-Operative Bank Ltd. (Kerala Bank), Kannur Regional Office
Case brief
What is this about?
SARFAESI recovery proceedings; instalment repayment and loan account regularisation; Kerala State Co-operative Bank (Kerala Bank), Kannur Regional Office and Mathamangalam Branch, Payyannur; overdue amount Rs.11,06,984/- as on 04.04.2025; twelve equated monthly instalments; first instalment on or before 15.05.2025; coercive proceedings kept in abeyance; default of one instalment permits bank to proceed in accordance with law; petitioner Kakkatt Radha, Kannur; advocates T. Manoj Kumar (petitioner) and M. Sasindran (respondents); W.P.(C)No.9805 of 2025; Gopinath P., J.; disposed of on 04.04.2025; 2025:KER:29136.
What did the court decide?
Opportunity to repay the entire overdue amount of Rs.11,06,984/- together with accrued interest, bank charges and costs in twelve equated monthly instalments (first on or before 15.05.2025, subsequent instalments on or before the last working day of each succeeding month), with continued payment of regular EMIs, regularisation of the loan account upon repayment, all coercive proceedings kept in abeyance, and liberty to the bank to proceed in accordance with law upon default of any one instalment.