IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 1245 of 2010(E)
1. BINDUMOL T., W/O.LATE ANANDAN PILLAI,
... Petitioner
Vs
1. THE KERALA STATE CO-OPERATIVE BANK LTD.
... Respondent
2. THE AUTHORISED OFFICER/THE REGIONAL
3. THE MANAGER, THE KERALA STATE
For Petitioner :SRI.C.R.SIVAKUMAR
For Respondent :SRI.NAGARAJ NARAYANAN
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :18/01/2010
O R D E R
P.R. RAMACHANDRA MENON, J.
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WP(C) No. 1245 of 2010
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Dated, this the 18th day of January, 2010
J U D G M E N T
The petitioner’s husband had availed a loan of Rs.3,00,000/-
under the Rural Housing Loan Scheme from the respondent Bank in the
year 2005, which however could not be repaid on time because of some
adverse calamities in life. The petitioner’s husband who was stated as
suffering from Cancer was being treated in the RCC Centre,
Thiruvananthapuram and finally he succumbed to the fate on
17.05.2008. It is the case of the petitioner that the huge amount had to
be incurred by the petitioner for treatment of the husband which
however was in vain. It is also stated that the petitioner is taking every
step to procure some funds from some other source to clear the liability
at the earliest; lest she should be thrown to streets.
2. The learned counsel for the Bank submits on instructions
that, some amount 1.41 lakhs is still due towards the defaulted
instalments and if the petitioner is ready and willing to clear the said
liability, the Bank is prepared to regularize the loan, thus extending a
helping hand to the petitioner.
3. After considering the facts and circumstances, the petitioner
WP(C) No.1245/2010
2
is permitted to clear the outstanding liability towards the defaulted
instalments with interest and cost as stated above, by way of `six’ equal
monthly instalments, the first of which shall be effected on or before the
15th of February 2010, to be followed by similar instalments to be effected
on or before the 15th of the succeeding months. Subject to the above, the
loan account will stand regularized and the petitioner will be liable to effect
the regular EMIs in connection with the loan transaction. It is made clear
that, if any default is made by the petitioner in clearing the outstanding
liability as above, towards the defaulted instalments or if any two
consecutive defaults are made in satisfying the regular EMIs, the Bank
will be at liberty to proceed with further steps for realisation of the due
amounts in a lump sum. It will also be open for the petitioner to avail the
benefit of ‘One Time Settlement’, if any implemented in the mean while.
The Writ Petition is disposed of as above.
P. R. RAMACHANDRA MENON
JUDGE
dnc