Petitioner wanted benefit of one-time settlement scheme under Registrar's Circular for loan default under SARFAESI Act. Court directed banks to effect settlement if scheme applicable.
Directed respondents 1 and 2 to effect one-time settlement if the Registrar's Circular No.3 of 2008 applies.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN
MONDAY, THE 25TH FEBRUARY 2008 / 6TH PHALGUNA 1929
WP(C).No. 5709 of 2008(D)
PETITIONER:
V.R.RAMACHANDRAN NAIR, AGED 68 YEARS, VALANILA HOUSE, KATTAMPAK P.O., NEZHOOR, KOTTAYAM.
BY ADV. SRI.A.K.HARIDAS
RESPONDENTS:
BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK
R4 BY SR.G.P SMT.ANU SIVARAMAN.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.5709 of 2008
==================================
Dated this the 25th day of February, 2008.
JUDGMENT
Adv.Sri.Nagaraj Narayanan appears for the first
respondent. Learned senior Government Pleader
appears for the fourth respondent. Having regard to the nature of the directions being issued hereunder, notices to respondents 2 and 3 are dispensed with, preserving their liberty
to move for review of this judgment, if aggrieved.
judgment was issued giving him three months' time to settle the transaction. The Bank took
certain decisions regarding one time
settlement. He did not honour that. Now he
WPC5709/2008
states that he is entitled to the benefit of Ext.P8, Circular No.3 of 2008 dated 15-1-2008 issued by the Registrar of Co-operative Societies. The Government having now come forward with such a scheme in the Co-operative sector, the period of which is till February, 2008, it is directed that respondents 1 and 2 will do the needful if that scheme applies and settle the transaction of the petitioner appropriately.
Writ petition is disposed of in the above terms.
Issue certified copy today.
Thottathil B.Radhakrishnan, Judge.
sl.
1 issue framed by the court
Whether the petitioner is entitled to the benefits of Circular No.3 of 2008 dated 15-1-2008 for one-time settlement of the transaction?
V.R.Ramachandran Nair
Kerala State Co-Operative Bank, Trivandrum
Kaduthurthy Urban Co-Operative Bank Ltd.
The Authorised Officer, Kaduthurthy Urban Co-Operative Bank Limited
The Registrar (Co-Operative)
Thottathil B.Radhakrishnan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
