RADHA THANKAPPAN v. KERALA STATE CO-OPERATIVE BANK LTD

I have heard the learned Counsel for the petitioner and the learned Standing Counsel representing the Bank.

The specific case of the petitioner is that the petitioner has been making the repayment and maintaining the loan accounts initially. The default in repayment of the loan accounts 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 her liability.

The writ petition is therefore disposed of with the following directions: (i) The petitioner shall remit an amount of ₹ 70,000/- on or before 30.03.2024 and the balance overdue amount in subsequent consecutive 10 equal monthly instalments W.P.(C) No.11925 of 2024 : 6 : thereafter, along with accruing interest and other Bank charges, if any. (ii) If the petitioner commits single default in making payments as directed above, the respondents 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. AMR Sd/- N. NAGARESH JUDGE W.P.(C) No.11925 of 2024 : 7 : APPENDIX OF WP(C) 11925/2024 PETITIONER’S EXHIBITS Exhibit P1 Exhibit P2 TRUE COPY OF THE NOTICE DATED 14.02.2024 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER. A TRUE COPY OF THE REPRESENTATION DATED 12.03.2024 MADE BY THE PETITIONER BEFORE THE 1 RESPONDENT BANK. Exhibit P3 A TRUE COPY OF THE POSTAL RECEIPT DATED 15.03.2024.