IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 16105 of 2006(P)
1. N.ABDUL RAZACK, S/O. KUNJIMUHAMMED,
... Petitioner
Vs
1. REGISTRAR OF CO-OP. SOCIETIES,
... Respondent
2. KONDOTTY RURAL CO-OP. HOUSING SOCIETY
3. SPECIAL ARBITRATOR/SALE OFFICER,
For Petitioner :SRI.K.P.MUJEEB
For Respondent :SRI.T.K.AJITH KUMAR
The Hon'ble MR. Justice K.THANKAPPAN
Dated :03/08/2006
O R D E R
K.THANKAPPAN, J.
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W.P.(C)NO. 16105 OF 2006
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Dated this the 3rd day of August, 2006
JUDGMENT
The petitioner availed of a loan of Rs.1,25,000/- from the second
respondent – Society. Since the petitioner did not repay the loan amount as
agreed, the Bank proceeded against the petitioner for recovery of the amount and
issued Ext.P1 notice demanding to remit a sum of Rs.2,52,610/-. Aggrieved by
the above, the petitioner has approached this Court.
2. When this Writ Petition came up for admission on 21.6.2006, this
Court granted interim stay of the entire proceedings pursuant to Ext.P1 for six
weeks on condition that the petitioner remits a sum of Rs.25,000/- within one
month from the date of the order. The petitioner also filed Ext.P3 representation
before the second respondent seeking the benefit of Ext.P2 Circular.
3. Learned counsel for the second respondent submits that Ext.P2 Circular
is not applicable to the loan availed of by the petitioner and that the Bank is
willing to give sometime to the petitioner to repay the loan amount. In the above
W.P.(C)NO.16105/2006 2
circumstances, the petitioner is permitted to remit the loan amount with interest
in ten equal monthly instalments commencing from 1.9.2006 provided that the
petitioner remits an amount of Rs.15,000/- within 15 days from today. It is made
clear that if the petitioner commits default in payment of two consecutive
instalments, the bank can proceed against the petitioner.
The Writ Petition is disposed of as above.
(K.THANKAPPAN, JUDGE)
sp/