REJI v. THE KERALA STATE CO-OP BANK LTD
Case at a glance
Provisions considered
Judgment
I have heard the learned Counsel for the petitioner and the learned Standing Counsel representing the Bank. W.P.(C) No.7204 of 2024 : 5 :
The specific case of the petitioner is that the petitioner has been making the repayment and maintaining the loan account initially. The default in repayment of the loan account occurred lately due to reasons beyond the control of the petitioner. The petitioner has provided substantial security which will safeguard the interest of the Bank.
In the facts and circumstances of the case, I am inclined to dispose of the writ petition giving a short and reasonable time to the petitioner to clear off his liability.
The writ petition is therefore disposed of with the following directions: (i) The petitioner shall remit an amount of ₹ 2 lakhs on or before 11.03.2024 and the balance overdue amount in subsequent consecutive 12 equal monthly instalments thereafter, along with accruing interest and other Bank charges, if any. W.P.(C) No.7204 of 2024 : 6 : (ii) If the petitioner commits single default in making payments as directed above, the respondent will be at liberty to continue with coercive proceedings against the petitioner in accordance with law. (iii) The petitioner shall also pay current EMIs along with the aforesaid payments. (iv) If the petitioner pays the instalments as directed above, any coercive proceedings against the petitioner shall stand deferred. Sd/- N. NAGARESH JUDGE AMR W.P.(C) No.7204 of 2024 : 7 : APPENDIX OF WP(C) 7204/2024 PETITIONER’S EXHIBITS Exhibit P1 Exhibit P2 A TRUE COPY OF THE SALE NOTICE DATED 30-01-2024 ISSUED BY THE RESPONDENT. A TRUE COPY OF THE REPRESENTATION DATED 07-02-2024 SENT BY THE PETITIONER.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.