Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 30TH DAY OF AUGUST 2022 / 8TH BHADRA, 1944 WP(C) NO. 9993 OF 2022 PETITIONER:
KRISHNAN BAVUKKA, AGED 52 YEARS, S/O BALAN, PROPRIETOR, HOTEL JYOTHIS RESIDENCY, MOOKAMBIKA, KOLLUR, RESIDING AT PARIKKAL HOUSE, VAZHAYILCHAL, KOODALI, KANJIRODE, KANNUR – 670 592.
BY ADVS.
ABDUL RAOOF PALLIPATH K.R.AVINASH (KUNNATH) E.MOHAMMED SHAFI RESPONDENTS:
1 THE SOUTH INDIAN BANK LTD, REGIONAL OFFICE, KANNUR, DOOR NO.4/110-K, KVR TOWER, TALAP, KANNUR – 670 002.
2 THE AUTHORIZED OFFICER SOUTH INDIAN BANK LTD, DOOR NO. 4/110-K, KVR TOWER, TALAP, KANNUR – 670 002, REPRESENTED BY ITS BRANCH MANAGER.
3 THE BRANCH MANAGER, SOUTH INDIAN BANK LTD, GUNDERT ROAD, THALASSERY, KANNUR – 670 101.
BY ADVS.
SRI.K.K.JOHN,SC,SOUTH INDIAN BANK SUNIL SHANKER KEVIN VARGHESE JACOB THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 9993 OF 2022 2 JUDGMENT This writ petition was filed challenging a demand notice issued under Section 13(2) of the SARFAESI Act. While this writ petition was pending before this Court, a possession notice (Ext.P7) has been issued.
2.
When this matter is taken up for consideration today, the learned counsel appearing for the petitioner submits that the petitioner is willing to clear off the entire overdue amounts in instalments. He submits that the petitioner may be permitted to approach the Bank with a suitable proposal for payment of the overdue amount in instalments and for re-scheduling / re- structuring.
3.
The learned counsel appearing for the respondent Bank states that if the petitioner is willing to deposit a substantial amount towards the loan liability, to show bonafides, any proposal that may be submitted by the petitioner can be considered by the competent authority of the respondent Bank.
4.
Having regard to the facts and circumstances of the case, considering the submissions of the learned counsel for the
WP(C) NO. 9993 OF 2022 3 petitioner and the learned counsel appearing for the respondent Bank, this writ petition is disposed of directing that if the petitioner submits a proposal for settlement of liabilities by clearing the overdue amount or for re-structuring / re- scheduling along with payment of a sum of Rs.25,00,000/- (Rupees twenty five lakhs) on or before 20.09.2022, the further coercive steps against the petitioner shall be kept in abeyance till a decision is taken on the proposal to be submitted by the petitioner.
The writ petition is disposed of as above.
Sd/- GOPINATH P.
JUDGE DK
WP(C) NO. 9993 OF 2022 4 APPENDIX OF WP(C) 9993/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE OPERATIONAL GUIDELINE OF ECLGS SCHEME DATED 20.10.2021 I Exhibit P2 TRUE COPY OF THE NOTICE DATED 25.1.2022 ISSUED BY THE 3RD RESPONDENT Exhibit P3 TRUE COPY OF THE REPLY OF THE PETITIONER DATED 17.2.2022 Exhibit P4 TRUE COPY OF THE NOTICE DATED 24.2.2022 ISSUED BY THE 2ND RESPONDENT Exhibit P5 TRUE COPY OF THE NOTICE DATED 19.2.2022 ISSUED BY THE 2ND RESPONDENT Exhibit P8 True copy of the appeal memorandum before the GST appellate authority Exhibit P9 True copy of the account statement with respect to Loan account No.
00078655000000578 Exhibit P10 True copy of the account statement with respect to Loan account No.
00078655000000603 Exhibit P11 True copy of the account statement with respect to Loan account No.
00078655000000780 Exhibit P12 True copy of the account statement with respect to Loan account No 00078655000000781