JAMES VARGHESE v. 1 2 JUNIOR INSPECTOR/ SPECIAL SALE OFFICER ALUVA CO-OPERATIVE AGRICULTURAL AND RURAL
Judgment
SRI. SHAJI CHIRAYATH, SC FOR ALUVA CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.02.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 144 OF 2024 3 JUDGMENT The first petitioner is a lottery seller. Petitioners are stated to have availed a housing loan for a sum of Rs. 5 lakhs and a non-farm sector loan for a sum of Rs. 2 lakhs from the second respondent Bank. They submit that due to certain difficulties that they faced in connection with the business, they were not able to make the remittances on time. They state that they have now been served with Ext.P1 notice threatening the sale of the property mortgaged. It is on these assertions that this writ petition is filed seeking directions.
#2. The learned Standing Counsel submits that in respect of the housing loan, the overdue amount as of 05.02.2024 is a sum of Rs. 8,37,283/- and the total outstanding is a sum of Rs.9,53,637/-. It is submitted that the tenure of the housing loan is not over, and it is valid till
#2027. It is further submitted that the non-farm sector loan is concerned, the total outstanding due is a sum of Rs. 4,91,277/.
#3. I have considered the submissions and have carefully gone through the records.
#4. From the submissions made by both sides, it appears that as the tenure of the housing loan is not over, directions can be issued to the WP(C) NO. 144 OF 2024 4 respondent Bank to permit the petitioners to regularise the loan so as to enable the petitioners to remit the outstanding in 20 equal monthly installments. In so far as the non-farm sector loan is concerned, the total outstanding is sum of Rs. 4,91,277/-, which amount shall also be paid along with. As the respondents have not objected to granting an installment facility to the petitioners to clear off the dues, I am of the view that necessary directions can be issued to enable the petitioners to clear the amounts due to the respondents.
#5. Resultantly, this writ petition is ordered, and the following directions are issued: (i) The petitioners shall approach the second respondent with a request to inform them of the details of the overdue amount in respect of the housing loan and the total outstanding amount in respect of the non-farm sector loan together with interest and other charges due from them. If such a request is made within two weeks from the date of receipt of a copy of this judgment, the second respondent shall forthwith issue a statement in writing detailing the amount due to clear the overdue amount in respect of the housing loan and the total outstanding amount in respect of the non-farm sector loan. (ii) On receipt of such a statement, the petitioners shall pay the overdue amount in respect of the housing loan and the total outstanding amount in respect of non-farm sector WP(C) NO. 144 OF 2024 5 twenty (20) equal monthly installments commencing from 15.3.2024 and continue to pay the same on every successive month thereafter. In addition, the petitioners shall continue to pay the regular installments in respect of the housing loan as and when the amounts become due. (iii) If the amounts are diligently paid in terms of the directions above, coercive proceedings initiated against them by the respondents for the realization of the amount shall be kept in abeyance. (iv) It is made clear that if the petitioners commit default in respect of any two installments, they will lose the benefit of this judgment, and the concerned respondents will be free to continue the recovery proceedings against them from the stage at which they presently stand and recover the entire amount along with interest and other charges. (v) It is further made clear that no application for an extension of time will be entertained. Sd/- RAJA VIJAYARAGHAVAN V JUDGE DCS WP(C) NO. 144 OF 2024 6 APPENDIX OF WP(C) 144/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE AUCTION SALE NOTICE DATED 18-11-2023 ISSUED BY THE 1ST RESPONDENT
Precedent status how later indexed judgments have treated this case
No treatment data yet for this judgment in the Courts & Cases corpus.
Absence of data is not a statement about the judgment’s standing — the corpus covers only judgments we index and link with cited evidence.