JESSY G. MOHAN Vs. KATTAKKADA PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LIMITED NO. T 2037

JUDGEMENT

(1.) Repayment of the credit facility availed by the petitioner from the respondent Bank was defaulted. Thereupon, recovery proceedings have been initiated by the Bank. Ext.P1 is the notice proposing sale of the property. It is at that stage that the petitioner has approached this Court.

(2.) Heard the learned counsel for the petitioner and the learned Standing Counsel for the Bank.

(3.) Further term is available for the loan. The learned counsel for the petitioner prays that an opportunity may be afforded to the petitioner to have the loan account regularised by repaying the overdue amounts in equal monthly instalments. Learned Standing Counsel for the Bank submits that the Bank is not averse to the grant of such facility provided the interests of the Bank are not affected.