Shiju T.T & Anr. vs Kunnathunad Taluk Housing Co-Operative Society Ltd

The 1^st petitioner availed credit facilities from the respondent bank. The 2^nd petitioner is the surety to the loan availed by the 1^st petitioner. This writ petition has been filed challenging the recovery proceedings initiated by the respondent bank to recover amounts due under credit facilities availed by the petitioners from the respondent bank.

The learned counsel appearing for the petitioners would submit that the petitioner is only seeking the liberty of repaying the entire amount in some instalments.

The learned counsel appearing for the respondent bank would submit that the bank has no objection in some reasonable instalments being permitted to the petitioners to clear the entire liability. It is submitted that the outstanding amount, as on 01.10.2026, is Rs.3,00,739/- (Rupees Three lakhs seven hundred and thirty nine only).

Having regard to the facts and circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in eighteen instalments.

Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.3,00,739/- (Rupees Three lakhs seven hundred and thirty nine only), as on 01.10.2026, along with accrued interest, costs and bank charges from the petitioners in the following manner: