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2018 Supreme(Online)(KER) 50183
HIGH COURT OF KERALA
ANU SIVARAMAN, J
K.V JOSEPH – Appellant
Versus
THE THODUPUZHA CO OPERATIVE PRIMARY AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. – Respondent
WP(C)/8517/2018
SRI.ABRAHAM P.GEORGE, SMT.M.SANTHY, SMT.M.D.BEENA, SRI.JOHNY THOMAS, SRI.P.V.BABY
Timely adherence to payment schemes is essential for debtors to secure due benefits as per stipulated terms.
Headnote:
Payment - Writ Petition - Ext.P8 Scheme - Summary: The court examined the applicability of Ext.P8 scheme concerning payment dues. It determined that the petitioner could settle outstanding amounts by the stipulated deadline, following substantial deductions made under the scheme, affirming the need for timely payment to secure benefits.
Fact of the Case:
The petitioner sought directions to apply payments made towards the due amount and to be allowed to remit a balance by a specific date under the Ext.P8 scheme.
Finding of the Court:
The court found that significant deductions had been applied to the petitioner's dues based on amounts deposited, allowing for a final settlement of Rs.1,86,034 by the deadline.
Issues: The core issue centered around whether the payments made by the petitioner would be adequately accounted for under the terms of the Ext.P8 scheme.
Ratio Decidendi: The court held that the payments made by the petitioner were valid and should be considered under the Ext.P8 scheme, thereby recognizing the need for the petitioner to complete the remaining payment for final settlement.
Final Decision: The writ petition is granted, allowing the petitioner to settle dues under Ext.P8 scheme.
J U D G M E N T
This writ petition is filed seeking directions to the respondents to grant the petitioner the benefit of Ext.P8 Scheme and certain directions to adjust the payments made by the petitioner on 1.2.2018 and 1.3.2018, towards the due amount and permit the petitioner to remit the balance amount on or before 25.3.2018.
2. Heard learned counsel for the petitioner and learned counsel appearing for the respondents as well.
3. It is submitted by the learned counsel for the petitioner that the petitioner had paid amounts pursuant to Exts.P3 judgment and P9 order. It is stated that the amounts paid after 31.12.2017 are also be taken into account for the purpose of granting benefits as provided in Ext.P8.
4. The learned counsel appearing for the respondents has made available a statement of amounts due. It is stated that principal amount of Rs.1,18,313/- with overdue interest, penal interest and legal fee are liable to be recovered from the petitioner. It is stated that deducting the payments made by the petitioner and deducting the amount as per the award as well as legal fee and a substantial portion of the interest and penal interest, the petitioner has to pay an amount of Rs.1,86,034/-, in terms of Ext.P8, as on 25.3.2018. Moreover, it is contended that all the benefits available under Ext.P8 Scheme have been extended to the petitioner and that no further deductions can be permitted.
5. I find from the calculation made available by the learned counsel for the respondents that substantial amounts have been deposited by the petitioner and the amounts remaining to be paid as on 25.3.2018 is Rs.1,86,034/-. It appears that substantial deductions have been made in terms of Ext.P8.
In the result, the writ petition is ordered, directing that in case the petitioner makes the payment of Rs.1,86,034/- on or before the last date for the application of Ext.P8 Scheme , the same shall be received by the respondents as full and final settlement of all dues in respect of the loan transaction.
