Binoy Joseph vs Kottayam District Co-Operative on 23 December, 2010

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 38135 of 2010(N)


1. BINOY JOSEPH,
                      ...  Petitioner

                        Vs



1. KOTTAYAM DISTRICT CO-OPERATIVE
                       ...       Respondent

2. THE SECRETARY,

                For Petitioner  :SRI.O.C.LAIJU

                For Respondent  : No Appearance

The Hon'ble MR. Justice C.T.RAVIKUMAR

 Dated :23/12/2010

 O R D E R
                           C.T.RAVIKUMAR, J.
                        ----------------------------
                        W.P.(C)No.38135 of 2010
                        ----------------------------
                      Dated 23rd December, 2010

                               JUDGMENT

The petitioner has availed a loan of Rs.3,00,000/- from the

first respondent bank. Continued default in repayment compelled the

first respondent to take coercive steps to realise the amount due against

the said loan account. As part of the same Ext.P2 notice was issued to

the petitioner. On receipt of Ext.P2 the petitioner has submitted Ext.P3.

The grievance of the petitioner is that despite the receipt of Ext.P3

representation the respondents are proceeding further with Ext.P2 and in

fact, have already taken symbolic possession of the property belonging

to the petitioner mortgaged with the first respondent. It is in the said

circumstances that this writ petition has been filed.

2. I have heard the learned counsel appearing for the

petitioner as also the learned standing counsel for the respondents.

3. The learned standing counsel submitted that as on

21.11.2010 an amount of Rs.4,10,008/- is outstanding towards the

aforesaid loan account. The petitioner is bound to discharge the liability.

The prayer of the petitioner in this writ petition is to direct the

respondents to consider Ext.P3 and also to allow one time settlement

The question whether the petitioner could be permitted to avail one time

WP(C).No.38135/2010 2

settlement is a matter to be considered by the first respondent, subject

to the existence of such a scheme. Therefore, in case the petitioner pays

an amount of Rs.1,00,000/- within one month from today, it will be open

to the petitioner to file a representation before the first respondent for

getting the benefit of one time settlement, if available, as also for

instalment facility. To enable the petitioner to effect the said payment

and submit a representation, the respondents shall keep in abeyance all

coercive steps pursuant to Ext.P2 for a period of 45 days. In case the

petitioner pays the amount as directed above within the stipulated time

and then makes a representation, the respondents shall consider the

same and pass appropriate orders. It is made clear that in case of

failure on the part of the petitioner to comply with the directions as

above, it will be open to the respondents to proceed against the

petitioner in terms of Ext.P2.

The writ petition is disposed of accordingly.

C.T.RAVIKUMAR
Judge

TKS