Disposed

Ravikumar v. the Authorised Officer, Sbt

Kerala HC25 Aug 2008WP(C)/12752/2008

Case brief

AI extract

What is this about?

Petitioner challenged proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Court directed petitioner to repay dues in six monthly instalments, deferring further action pending compliance, with power to resume proceedings on default.

What did the court decide?

Passage of writ petition directing the petitioner to pay the due amount in six equal monthly instalments; further coercive actions deferred.

Ravikumar Vs the Authorised Officer, Sbt — Banking and Recovery | Kerala HC (2008)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT :

¶3

THE HONOURABLE MR. JUSTICE ANTONY DOMINIC

¶4

MONDAY, THE 25TH AUGUST 2008 / 3RD BHADRA 1930

¶5

WP(C).No. 12752 of 2008(R)

¶6

--------------------------

¶7

PETITIONER:

¶8

---------------

¶9

RAVIKUMAR, PROPRIETOR, GANESH REFRIGERATION INDUSTRIES, KOTTARAKKARA

¶10

BY ADV. SRI.PRATHEESH.P

¶11

RESPONDENTS:

¶12

-------------------

¶13

1. THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, KOTTARAKKARA.

¶14

2. SUDHEER BOSE, ADVOCATE COMMISSIONER KOLLAM-12

¶15

BY ADV. SRI.M.PATHROSE MATTHAI (SR.) FOR R1 SRI.SAJI VARGHESE FOR R1

¶16

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶17

ANTONY DOMINIC, J.

¶18

= = = = = = = = = = = = = = = = = W.P.(C) No. 12752 OF 2008 R

¶19

= = = = = = = = = = = = = = = = =

¶20

Dated this the 25^th day of August 2008

¶21

In this writ petition the challenge is against the proceedings initiated by the bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Though the contentions on merits raised by the petitioner do not deserve acceptance, still the counsel for the petitioner seeks an instalment facility. Though this request also is not acceptable to the bank, still having regard to the fact that the petitioner is desirous of discharging the liability and avoid coercive action and as the bank will also be realising the dues in such a process, I am inclined to give the petitioner yet another opportunity to discharge his debt.

¶22

Accordingly, it is directed that the petitioner shall pay the amount that is due to the respondent bank in six equal monthly instalments the first of which shall be paid on or before 15.9.2008 and the subsequent instalments will be paid on 15^th of every

¶23

W.P.(C) No. 12752 OF 2008

¶24

-2-

¶25

succeeding month. Subject to payment as above, further action in pursuance to Ext. P1 will stand deferred and in case default is committed in paying any one of the instalments, the bank will be free to continue the proceedings without further notice.

¶26

Writ petition is disposed of as above.

¶27

ANTONY DOMINIC

¶28

JUDGE

¶29

jan/-

Ravikumar v. the Authorised Officer, Sbt

Case brief

What is this about?

What did the court decide?

Ravikumar v. the Authorised Officer, Sbt

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Pathu @ Pathumma Vs Niveditha P. Haran & 2 Others

Shazna Vs T.P.Senkumar

Muzhappilangadan Manoj Vs State of Kerala and Others

S.Narayanan Nair Vs State of Kerala

S.Venugopala Das Vs Director of Civil Supplies

Mathai E.V Vs Roy