High Court of KeralaWP(C)/22459/2015disposed of

Joshy Jacob v. Kottayam District Co-Operative Bank Ltd

2015-07-24Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE FRIDAY, THE 24TH DAY OF JULY 2015/2ND SRAVANA, 1937 W.P.(C).No. 22459 of 2015 (F) ----------------------------- PETITIONERS :

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1. JOSHY JACOB, S/o. CHACKO, AGED 49 YEARS, ADAPPACHERIL HOUSE, CHEMPILAVU P.O., PALA, KOTTAYAM DISTRICT-686 584.

2. RANI JOSHY, S/o. JOSHY, ADAPPACHERIL HOUSE, CHEMPILAVU P.O., PALA, KOTTAYAM DISTRICT-686 584.

BY ADVS.SRI.K.S.HARIHARAPUTHRAN SRI.M.D.SASIKUMAR SRI.GEORGE MATHEW SRI.SUNIL KUMAR A.G SRI.DIPU JAMES RESPONDENTS :

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1. KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE BUILDING, KOTTAYAM-686 002 REPRESENTED BY GENERAL MANAGER

2. THE AUTHORISED OFFICER & CHIEF MANAGER, KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE BUILDING, KOTTAYAM- 686 002.

3. KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., PALA BRANCH, REPRESENTED BY ITS MANAGER.

4. DIMPLE RAJ, ADVOCATE COMMISSIONER, KALLIL BUILDINGS, KOTTAYAM-688 002.

R1-R3 BY ADV. SRI.SUNIL CYRIAC,SC, DISTRICT CO-OPERATIVE BANK LTD.,KOTTAYAM.

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24-07-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P.(C).No. 22459 of 2015 (F) ----------------------------- APPENDIX PETITIONER'S EXHIBITS --------------------- EXT.P1 TRUE COPY OF STATEMENT FOR LOAN A/c.No. OL-2065 DATED 25.03.2013 OF 1ST PETITIONER.

EXT.P2 TRUE COPY OF STATEMENT FOR LOAN A/c.No. OL-2067 OF 2ND PETITIONER.

EXT.P3 TRUE COPY OF THE NOTICE DATED 04.07.2015 TO 1ST PETITIONER.

EXT.P4 TRUE COPY OF THE NOTICE DATED 04.07.2015 TO 2ND PETITIONER.

RESPONDENT'S EXHIBITS : NIL --------------------- //TRUE COPY// P.A. TO JUDGE

A. MUHAMED MUSTAQUE, J ------------------------------------------------ W.P.(C).No. 22459 of 2015 ------------------------------------------------ Dated this the 24th day of July, 2015

JUDGMENT

The petitioners availed two loans from the first respondent-Bank. They challenge SARFAESI proceedings. They submit that they are prepared to clear the overdue amount in twelve equal monthly instalments.

2. The learned Standing Counsel for the Bank submits that more than Rs. 4,77,000/- are due from the petitioners. Considering the facts and circumstances, the following directions are issued :

i) The petitioners shall deposit an amount of Rs. 1,00,000/- (Rupees One Lakh Only) within one month from today.

ii) Thereafter, the petitioners shall be permitted to clear the overdue amount in seven equal monthly instalments along with regular EMI from the succeeding month.

W.P.(C).No. 22459 of 2015 iii) If the petitioners comply with the above conditions, the loan account of the petitioners shall be regularised.

iv) If the petitioners commit any default in remitting anyone of the instalments, the Bank is free to proceed against the petitioners in accordance with law.

This writ petition is disposed of as above.

Sd/- A. MUHAMED MUSTAQUE, JUDGE