Mahamood P vs The State Of Kerala Represented By … on 25 May, 2007

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 6039 of 2007(R)


1. MAHAMOOD P.,
                      ...  Petitioner

                        Vs



1. THE STATE OF KERALA REPRESENTED BY THE
                       ...       Respondent

2. THE REGISTRAR OF CO-OPERATIVE SOCIETIES,

3. THE GENERAL MANAGER,

                For Petitioner  :SRI.C.R.SIVAKUMAR

                For Respondent  :SRI.DEVAPRASANTH.P.J.

The Hon'ble MR. Justice K.M.JOSEPH

 Dated :25/05/2007

 O R D E R
                                 K.M.JOSEPH, J.

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                        W.P.(C).No.6039 OF 2007

                  --------------------------------------------

                      Dated this the 25th day of May, 2007



                                JUDGMENT

Petitioner challenges Exts.P2 and P3. The prayers in the writ

petitions are:

(1) to direct the third respondent to provide the

benefit of the existing rate of interest in the loan

agreement and give appropriate remission in the loan

account as per the direction of the third respondent or the

Reserve Bank of India.

(2) to direct the third respondent to provide the

copy of the detailed statement of accounts to the

petitioner.

2. Learned counsel for the petitioner submits that

petitioner has paid Rs. 2,50,000/-, but no benefit is extended to the

petitioner. Learned standing counsel for the Bank submits that it is

not open to the bank to extent the benefit of one time settlement.

He would submit that if the petitioner deposits the entire amount

WPC No.6039/07 2

remaining to be paid, the bank would not insist on interest accruing

after 19/04/2007, which is the date of the last payment made by the

petitioner. Learned counsel for the petitioner submits that some

time may be granted to pay the amount remaining to be paid to

avail of the benefit submitted by the learned counsel for the bank.

3. Accordingly, the writ petition is disposed of as follows:

Petitioner is granted five weeks time from today to effect the

payment of the amount remaining to be paid. If the petitioner

makes the payment of the amount, the liability will be calculated

excluding the liability to pay interest after 19/04/2007. The third

respondent will serve a statement on the petitioner within two

weeks from today. If the petitioner does not make payment, it will

be open to the bank to enforce its right in accordance with law.

K.M.JOSEPH

JUDGE

sv.

WPC No.6039/07 3