Disposed

State Bank of India v. Bombay Plastic Equipments

Kerala HC20 Sept 2007RP/899/2007

Case brief

AI extract

What is this about?

The High Court disposed of a review petition and contempt petition. The court granted the petitioner one month to make payment with interest and settled liability, while recalling the time frame for title deed release and directions regarding an infructuous application due to a compromise and litigation cost recovery.

What did the court decide?

Petitioner granted one month time to make payment with interest and settle liability; original time frame for title deed release and closure of infructuous application recalled.

State Bank of India Vs Bombay Plastic Equipments — Banking and Recovery | Kerala HC (2007)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR THURSDAY, THE 20TH SEPTEMBER 2007 / 29TH BHADRA 1929 RP.No. 899 of 2007(B) --------------------AGAINST THE JUDGEMENT/ORDER IN WPC.24164/2007 Dated 14/08/2007 ....................

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: PETITIONER/1ST RESPONDENT: -------------------------------------------

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STATE BANK OF INDIA, SBI BRANCH, M.G. ROAD, THRISSUR.

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BY ADV. SRI.K.K.CHANDRAN PILLAI

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RESPONDENTS: PETITIONER AND RESPONDENTS 2 & 3:

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BOMBAY PLASTIC EQUIPMENTS, I.D. PLOT NO.29-A, PERINGANDOOR P.O., ATHANI, THRISSUR-680581, REPRESENTED BY ITS MANAGING PARTNER.

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C.V. SUBRAMANIAN, S/O. VELAYUDHAN, MANAGING PARTNER, M/S. BOMBAY PLASTIC EQUIPMENTS, I.D. PLOT NO.29-A, PERINGANDOOR P.O., ATHANI, THRISSUR-680581.

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C.S.SAILESH, S/O. C.V. SUBRAMANIAN, PARTNER, BOMBAY PLASTIC EQUIPMENTS, I.D. PLOT NO.29-A, PERINGANDOOR P.O., ATHANI, THRISSUR-680581.

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SARASWATHY, W/O. C.V.SUBRAMANIAN, SARADA NIVAS, WEST FORT, THRISSUR-680 004.

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ADV. SHRI.G.SREEKUMAR (CHELUR), FOR R1

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THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 20/09/2007 ALONG WITH COC 1273/2007, THE COURT ON THE SAME DAY PASSED THE FOLLOWING:

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C.N.RAMACHANDRAN NAIR, J.

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R.P. No. 899 of 2007 & COC No. 1273 of 2007 in WP(C) No. 24164 of 2007 --------------------------------Dated, this the 20^th day of September, 2007

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O R D E R

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The review petition and contempt petition are heard together. Review petition is disposed of as follows. Since O.A. had already been disposed of, it can not be closed as infructuous even after settlement. Therefore, direction in this regard is recalled. Title deed could not be released within one week as it was before the DRT. Therefore, time frame for release of title deed is also recalled. The learned counsel for the Bank submitted that besides compromise amount, Bank is entitled to recover litigation cost, which amounts to Rs. 39,127/-, and also interest for belated payment from 01/04/2007 @ 12.75% till date of payment. Since petitioner has applied for extension of time, Bank is entitled to interest for belated payment. However, petitioner is granted further one month time from today to make payment with interest and settle liability.

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Review petition and contempt petition are disposed of as above.

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Issue photocopy today itself.

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(C.N.RAMACHANDRAN NAIR, JUDGE)

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State Bank of India v. Bombay Plastic Equipments

Case brief

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State Bank of India v. Bombay Plastic Equipments

Case brief

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