Shibu Marshal T. vs. The Dy. Tahsildar
Held
The Court directed the petitioners to pay 10% of the outstanding loan amount plus GST along with a One Time Settlement (OTS) application to KFC by April 30, 2023. KFC was directed to consider this application within two weeks of receipt.
Facts
Partners of Ask Engineering and Constructions defaulted on a loan from the Kerala Financial Corporation (KFC). KFC initiated recovery proceedings under the Kerala Revenue Recovery Act, 1968, which the petitioners challenged through writ petitions.
Key Issues
The legality of the recovery action initiated by KFC against the defaulting partners and the petitioners' entitlement to avail a One Time Settlement scheme for their loan.
Sections Cited
Kerala Revenue Recovery Act, 1968, Section 7
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Heard together (2 matters)
Read from the judgment's own cause title. This page is filed under one of them.
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE SHAJI P.CHALY WP(C) NO. 11695 OF 2023 PETITIONER: ANANTHAVISHNU M.K., AGED 33 YEARS, S/O MURUKAN V., UTHRADAM, KOLLAMVILAKAM, ARUMANOOR, POOVAR, THIRUPURAM, THIRUVANANTHAPURAM, PIN – 695 525. BY ADVS. R.N.SANDEEP KEERTHI VIJAYAN RESPONDENT: KERALA FINANCIAL CORPORATION (KFC) THIRUVANANTHAPURAM BRANCH, REPRESENTED BY ITS CHIEF MANAGER, KANAKA, VELLAYAMBALAM, THIRUVANANTHAPURAM, PIN–695 033. BY ADVS. ADV. VENUGOPAL M.R. DHANYA P.ASHOKAN(K/001671/2000) S. MUHAMMAD ALIKHAN(K/000644/2020) SREEDARSHAN SUDHAKARAN(K/1349/2023) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2023, ALONG WITH WP(C).42081/2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).Nos.11695 of 2023 & 42081 of 2018 : 2: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE SHAJI P.CHALY WP(C) NO. 42081 OF 2018 PETITIONER: SHIBU MARSHAL T., AGED 31 YEARS S/O THAMBI B., SHIBU BHAVAN, NEENDAKARA ROAD, NEENDAKARA, KOLLAM-691882. BY ADV R.N.SANDEEP RESPONDENTS: 1 THE DY. TAHSIL
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