K.B.Murali v. the K.S.F.E.
Case brief
What is this about?
The court directed the petitioner to furnish a letter of undertaking for debt settlement to secure a waiver of penal interest and stay recovery proceedings until 31/10/2007, with a threat of auction if liability is not cleared.
What did the court decide?
Waiver of penal interest and stay of recovery proceedings until 31/10/2007 upon furnishing an undertaking to settle liability exclusive of penal interest.
What the court decided
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR
FRIDAY, THE 17TH AUGUST 2007 / 26TH SRAVANA 1929
WP(C).No. 19796 of 2007(F) --------------------------
PETITIONER:
K.B. MURALI, S/O. BHASKARAN, KANDANGATH HOUSE, KODUNGALLUR TALUK, CHALINGAD P.O., THRISSUR DISTRICT.
BY ADV. SRI.K.M.JAMALUDHEEN
SMT.LATHA PRABHAKARAN SMT.C.C.JANCY
RESPONDENTS:
- THE KERALA STATE FINANCIAL ENTERPRISES LIMITED (A GOVERNMENT OF KERALA ENTERPRISES), REGISTERED OFFICE BHADRATHA, P.B.NO.510, MUSEUM ROAD, CHEMBUKKAVU, THRISSUR-20, REPRESENTED BY ITS CHAIRMAN.
Issues for consideration
2 issues framed by the court
Whether to grant temporary stay of recovery proceedings and waiver of penal interest in a debt settlement scheme.
Whether the debtor can arrange sale of mortgaged property pending settlement of arrears.
Parties & counsel
- petitioner
K.B. Murali
- respondent
Kerala State Financial Enterprises Limited
- respondent
Deputy Collector (RR), KSFE Limited
Coram
Case details
As recorded by the court registry
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