The High Court rejected appeals where appellants sought a direction for loan waiver under the One Time Settlement Scheme without depositing 10% and cessation of recovery proceedings, holding the scheme conditions were not arbitrary.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:-
THE HONOURABLE THE CHIEF JUSTICE MR.H.L.DATTU & THE HONOURABLE MR. JUSTICE K.T.SANKARAN
FRIDAY, THE 1ST JUNE 2007 / 11TH JYAISHTA 1929
W.A.No.244 of 2007
AGAINST THE JUDGEMENT IN W.P.(C).No.482/2007 DATED 04/01/2007
APPELLANT : PETITIONER:-
THANKAM CASHEW EXPORTERS, PALLIKKAL P.O., KILIMANOOR, TRIVANDRUM, REPRESENTED BY ITS MANAGING PARTNER SHAHIR SHAH, RESIDING AT MADAVOOR, PALLIKKAL P.O., KILIMANOOR, TRIVANDRUM.
BY ADV. SRI.K.B.PRADEEP
RESPONDENTS /RESPONDENTS:-
KANNANALLOOR P.O., KOLLAM.
R1 BY SENIOR GOVERNMENT PLEADER SRI.M.R.SABU. R2 BY STANDING COUNSEL SRI.M.PATHROSE MATTHAI (SR.) ADV. SRI.SAJI VARGHESE R3 BY STANDING COUNSEL SRI.L.MOHANAN
THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 01/06/2007, ALONG WITH W.A.NO.241 OF 2007 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:-
H.L.Dattu, C.J. & K.T.Sankaran, J.
W.A.Nos.244 of 2007-E & 241 of 2007-E
Dated, this the 1st day of June, 2007
JUDGMENT
H.L.Dattu,C.J.
Though the petitioners are different but the cause of action and the reliefs claimed being common, the learned Single Judge has thought it to combine both the writ petitions and to pass a common order.
(i) to direct the 3rd respondent/Kerala Financial Corporation (“Corporation” for short) to consider 'One Time Settlement' application of the petitioners without insisting for remittance of any amount as a condition precedent and inform the OTS amount to the 2nd respondent/Kerala State Industrial Development Corporation forthwith, and
(ii) for a direction to the 3rd respondent to stop all recovery proceedings against the petitioners' units.
W.A.Nos.244 & 241of 2007
have not deposited 10% of the outstanding balance amount as required under the Scheme. For reasons best known, the petitioners do not question the correctness or otherwise of the orders passed by the Corporation.
W.A.Nos.244 & 241of 2007
Consequently, I.A.No.93 of 2007 in W.A.No.244 of 2007 and
I.A.No.92 of 2007 in W.A.No.241 of 2007 are also dismissed.
H.L.Dattu, Chief Justice.
K.T.Sankaran, Judge.
vku/DK.
2 issues framed by the court
Whether the Court can direct the respondent Corporation to consider One Time Settlement applications by the appellants without insisting on the payment of 10% of the outstanding amount.
Whether the Court can direct the respondent Corporation to stop all recovery proceedings pending against the appellants' units.
1 provisions across 1 enactments
Thankam Cashew Exporters
The State of Kerala
The Kerala State Industrial Development Corporation Ltd.
The Kerala Financial Corporation
Kollam Cashew Manufacturers & Exporters Association
H.L.Dattu
K.T.Sankaran
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
