High Court of KeralaWP(C)/24358/2015disposed of

Binoy v. The Trichur District Co-Operative Bank Limited

2015-08-19Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE WEDNESDAY, THE 19TH DAY OF AUGUST 2015/28TH SRAVANA, 1937 WP(C).No. 24358 of 2015 (T) --------------------------------------- PETITIONER(S):

--------------------- BINOY, S/O.PRAHLADHAN, KARUMATHIL HOUSE, ANNAKARA VILLAGE, PERUVALLUR DESOM, CHAVAKKAD TALUK, THRISSUR DT. BY ADV. SRI.V.C.MADHAVANKUTTY RESPONDENT(S):

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1. THE TRICHUR DISTRICT CO-OPERATIVE BANK LIMITED, HEAD OFFICE AT KOVILAKATHUMPADAM, THRISSUR REP. BY ITS AUTHORISED OFFICER 680 001.

2. VIDHYA, W/O.BINOY, KARUMATHIL HOUSE, ANNAKARA VILLAGE, PERUVALLUR DESOM, CHAVAKKAD TALUK, THRISSUR DT. 680 001.

R1 BY SRI.C.A.MAJEED, SC, THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19-08-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 24358 of 2015 (T) --------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- P1:

TRUE COPY OF THE POSSESSION NOTICE DATED 6/2/2015 ISSUED BY THE 1ST RESPONDENT P2:

TRUE COPY OF THE NOTICE ISSUED BY ADVOCATE COMMISSIONER DATED 27/7/2015 RESPONDENT(S)' EXHIBITS --------------------------------------- NIL.

/ TRUE COPY / P.S. TO JUDGE PJ

A. MUHAMED MUSTAQUE, J ----------------------------------------------------- W.P.(C).No. 24358 of 2015 ----------------------------------------------------- Dated this the 19th day of August, 2015

JUDGMENT

The petitioner availed a loan from the respondent-Bank. He challenges SARFAESI proceedings. The only prayer of the petitioner before this Court is that he may be permitted to clear the overdue amount and the Bank may be directed to regularise the loan account.

2. According to the learned counsel for the Bank, the total overdue amount in the loan account is Rs.4,72,000/-. Considering the facts and circumstances, the following directions are issued :

i) The petitioner shall remit the overdue amount in eight equal monthly instalments along with regular EMI from the month of September onwards.

ii) If the petitioner clears the overdue amount as above, the Bank shall regularise the loan account.

W.P.(C).No. 24358 of 2015 -2iii) If the petitioner commits default in remitting any one of the instalments, the respondent-Bank is free to proceed against the petitioner in accordance with law.

The writ petition is disposed of as above. No costs. Sd/- A. MUHAMED MUSTAQUE, JUDGE bpr