Allowed

Rajech C.K. v. Cherthala Co-Op.Agricultural & Rural

Kerala HC7 Feb 2008WP(C)/585/2008

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging recovery proceedings for a non-disputed loan. The court declared the petitioner entitled to a one-time settlement to wipe out outstanding dues by paying a specified sum and made the interim stay absolute conditional upon further payments.

What did the court decide?

Petitioner declared entitled to one-time settlement; interim stay made absolute till 31/03/2008 upon payment of Rs. 35,000 and further interest.

Rajech C.K. Vs Cherthala Co-Op.Agricultural & Rural — Banking and Recovery | Kerala HC (2008)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT :

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THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN

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THURSDAY, THE 7TH FEBRUARY 2008 / 18TH MAGHA 1929

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WP(C).No. 585 of 2008(T)

PETITIONER:

RAJESH C.K., CHARANGATTU, KANICHUKULANGARA P.O., ALAPPUZHA.

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BY ADV. SRI.S.SANTHOSH KUMAR

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RESPONDENTS:

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CHERTHALA CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD.NO.A.327, CHERTHALA P.O CHERTHALA, ALAPPUZHA, REPRESENTED BY ITS SECRETARY

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THE SPECIAL SALE OFFICER, INSPECTOR OF CO-OPERATIVE SOCIETIES, CARD BANK LTD.NO.A.327, CHERTHALA.

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FOR R1 ADV. SRI.S.P.ARAVINDAKSHAN PILLAY

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SMT.N.SANTHA

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SRI.PETER JOSE CHRISTO FOR R2 SENIOR GOVERNMENT PLEADER, SMT.ANU SIVARAM

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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THOTTATHIL B. RADHAKRISHNAN, J.

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~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ W.P.(C) No. 585 of 2008-T

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~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

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Dated this the 7^th day of February, 2008

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J U D G M E N T

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The petitioner challenges proceedings of recovery by way of sale. The action has been taken under the Kerala State Cooperative Agricultural and Rural Development Act. The same is with jurisdiction. The loan is not disputed. The liabilities are not disputed. The accruals cannot be avoided. Under such circumstances, when the matter is taken up today, the learned counsel for the petitioner confined his submissions to a request that the petitioner may be given an opportunity to avail the benefit of one time settlement scheme.

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Though an interim order was issued on 04/01/2008 granting stay on conditions, the petitioner has complied with only the first among the conditions and he has yet to pay the second instalment which is over due under that order. Even then, the bank through their learned counsel has fairly stated that it is prepared to grant one time settlement scheme and the term of that settlement is that

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W.P.(C).No.585/2008-T

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-: 2 :-

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the petitioner can wipe off the entire outstandings by paying Rs.3,81,667/- on or before 29/02/2008. Recording this submission, this writ petition is disposed of declaring that the petitioner is entitled to such reliefs. The interim stay is made absolute till 31/03/2008 if the petitioner pays an amount of Rs.35,000/- within two weeks, and the bank will also consider permitting the petitioner to make the payment under the one time settlement scheme, provided the petitioner pays further interest for one month also before 31/03/2008. If remittances are not made, the respondent is at liberty to forthwith proceed with the distress action.

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This writ petition is disposed of as above.

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THOTTATHIL B.RADHAKRISHNAN, Judge

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Rajech C.K. v. Cherthala Co-Op.Agricultural & Rural

Case brief

What is this about?

What did the court decide?

Rajech C.K. v. Cherthala Co-Op.Agricultural & Rural

Case brief

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