M.Reji v. The Branch Manager, Trivandrum District Co-Operative Bank
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN MONDAY, THE 16TH DAY OF FEBRUARY 2015/27TH MAGHA, 1936 WP(C).No. 2979 of 2015 (V) ----------------------------------------- PETITIONER(S) :
------------------------ M.REJI, AGED 40 YEARS, PALLIVILA VEEDU, PATTAMTHALACKAL, DALLUMUGHAM P.O, THIRUVANANTHAPURAM.
BY ADVS.SRI.R.SUNIL KUMAR SMT.A.SALINI LAL RESPONDENT(S) :
----------------------------
1. THE BRANCH MANAGER, TRIVANDRUM DISTRICT CO-OPERATIVE BANK, VELLARADA BRANCH, VELLARADA, PIN- 695 505.
2. THE AUTHORISED OFFICER, HEAD OFFICE, TRIVANDRUM DISTRICT CO-OPERATIVE BANK, KIZHAKKEKKOTTA, TRIVANDRUM - 23.
BY ADV. SRI.T.R.HARIKUMAR, S.C, THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16-02-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Msd.
WP(C).No. 2979 of 2015 (V) --------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT P1:
COPY OF TREATMENT CERTIFICATE ISSUED FORM REGIONAL CANCER CENTER, TRIVANDRUM.
EXHIBIT P2:
COPY OF THE SALE NOTICE ISSUED BY THE RESPONDENT BANK. RESPONDENT(S)' EXHIBITS ----------------------------------------- NIL //TRUE COPY// P.A.TO JUDGE.
Msd.
K. VINOD CHANDRAN, J.
===================== W.P.(C) No.2979 of 2015 - V ====================== Dated this the 16th day of February, 2015
J U D G M E N T
The petitioner had availed a housing loan and committed default in the same. Since default was committed, the respondent Bank has initiated SARFAESI proceedings, in the context of there being arrears for reason of failure to pay the equated monthly instalments. It is submitted that Rs.1,98,000/- is the dues.
2. In the circumstances of the petitioner satisfying the entire arrears/default in ten instalments along with the regular payment of EMIs, on the respective due dates, there shall be a direction to the respondent Bank to regularize the loan account and permit the petitioner to pay the amounts as per the original agreement. The recovery proceedings shall stand closed on the satisfaction of the arrears and also on regular EMIs being paid, even during the period granted
W.P.(C) No.2979 of 2015 - V by this Court. If two consecutive defaults are committed during the instalment period granted by this Court, Bank shall proceed with the recovery proceedings initiated. First instalment shall be paid on 16.03.2015, as per the statement issued by the Bank as to the dues as on 28.02.2015; and the balance instalments shall be paid on the 16th of the succeeding months. On the satisfaction of the dues as per the statement, the Bank shall give a statement of the future interest from 28.02.2015 and the same shall be settled as the 11th instalment. Writ petition disposed of.
Sd/- K. VINOD CHANDRAN, JUDGE SB // true copy // P.A to Judge