High Court of KeralaWP(C)/39329/2015disposed of

Joseph V.T. v. Indian Overseas Bank

2015-12-22Honourable Dr. Justice A.K.Jayasankaran Nambiar4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR TUESDAY, THE 22ND DAY OF DECEMBER 2015/1ST POUSHA, 1937 WP(C).No. 39329 of 2015 (M) ---------------------------- PETITIONER(S):

----------------------- JOSEPH V.T., S/O. THOMAS V.J., VELLAVALLIYIL HOUSE, CHELLACHAL P.O. ARAVANCHAL, KANNUR - 670 353.

BY ADV. SRI.KALEESWARAM RAJ.

RESPONDENT(S):

----------------------------

1. INDIAN OVERSEAS BANK, REPRESENTED BY ITS MANAGER, THRIKARIPUR BRANCH, P.O. THRIKARIPUR, KASARAGOD - 671 310.

2. THE BRANCH MANAGER, INDIAN OVERSEAS BANK, THRIKARIPUR BRANCH, P.O. THRIKARIPUR, KASARAGOD - 671 310.

3. THE AUTHORISED OFFICER, SPECIAL DEPUTY TAHSILDAR, REVENUE RECOVERY TALUK OFFICE, TALIPARAMBA, KANNUR - 670 141.

R1 & R2 BY ADV. SRI.SUNIL SHANKAR, SC.

R3 BY GOVT. PLEADER SRI.R. RANJITH.

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22-12-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

rs.

WP(C).No. 39329 of 2015 (M) APPENDIX PETITIONER'S EXHIBITS:- P1TRUE COPY OF THE NOTICE DATED 15/07/2014.

P2TRUE COPY OF THE NOTICE DATED 01/12/2014.

P3TRUE COPY OF THE DEMAND NOTICE TOGETHER WITH DEMAND PRIOR TO ATTACHMENT OF LAND DATED 24/11/2015. RESPONDENT'S EXHIBITS:- NIL.

//TRUE COPY// P.S. TO JUDGE rs.

A.K.JAYASANKARAN NAMBIAR, J.

- - - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C) No. 39329 of 2015 - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of December 2015

JUDGMENT

The petitioner, who had availed an agricultural term loan from the respondent bank, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Revenue Recovery Act, to recover the loan amounts. Ext.P3 is the demand notice issued to the petitioner. In the writ petition, the petitioner impugns the steps initiated by the respondent bank for recovery of the loan amounts.

I have heard the learned counsel appearing on behalf of the petitioner as also the learned Standing Counsel appearing on behalf of the respondents.

On a consideration of the facts and circumstances of the case and the submissions made across the bar, I note that the sole prayer of the petitioner is to permit him to remit the balance amounts outstanding to the bank in easy installments. Taking into account the plea of financial hardship raised by the petitioner, I dispose the writ petition with the following directions:-

w.p.(c).No.39329 Of 2015 2 (i) The total overdue amount, in respect of the loan, is stated to be Rs.4,36,399/- together with accrued interest. Accordingly, if the petitioner remits the aforesaid amount of Rs.4,36,399/- together with accrued interest and other charges in ten equal and successive monthly installments commencing from 05.01.2016, and continues to keep up the regular installment payments as per the original loan schedule, then the recovery steps initiated against him by the respondent bank shall be kept in abeyance. (ii) It is made clear that if the petitioner commits a default in respect of any of the installments, he will lose the benefit of this judgment and the respondent bank will be free to continue the recovery proceedings against him from the stage at which they presently stand.

(iii)The respondent bank shall furnish the petitioner with an up-to-date statement of the dues position, within 10 days from today, so as to enable the petitioner to effect repayment as per the directions in this judgment.

Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE sm/