Anil Kumar C S vs Resgistrar Of Co Operative Societies

Gopinath P., J

The petitioner is one of the guarantor for a loan availed by his elder brother from the respondent bank. Certain property of the petitioner has also been mortgaged to secure repayment of the loan. On default being committed, proceedings were initiated against the petitioner, who stood as guarantor for the said loan, under the provisions of the Kerala Co-operative Societies Act, 1969, prompting the petitioner to approach this court by filing the above writ petition.

The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in installments.

The learned counsel appearing for the respondent bank submits that the outstanding amount due from the petitioner as on 23-10-2025 is Rs.48,00,871/-. It is submitted that some reasonable installments can be given to the petitioner to clear the entire liability.

Having heard the learned counsel for the petitioner and the learned counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to pay off outstanding amount on a condition that he will pay a sum of Rs.10,00,000/-on or before 30-11-2025 and the balance outstanding amount in twelve (12) equal monthly instalments first of which shall be paid on or before 30-12-2025.

Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.48,00,871/- along with interest, bank charges and costs from the petitioner on the following conditions:

(i) The petitioner shall pay an amount of Rs.10,00,000/- on or before 30-11-2025. The balance outstanding amount of Rs.38,00,871/- together with any accrued interest, bank charges and costs shall be repaid in twelve (12) equated monthly instalments;

(ii) The first instalment shall be paid on or before 15-12-2025 and subsequent instalments shall be paid on or before the 15th day of every succeeding month;

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed with recovery in accordance with the law;

(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.