Allowed

Viswambharabn Vaidyan.S v. the Authrized Officer

Kerala HC5 Oct 2013OP (DRT)/3437/2013

Case brief

AI extract

What is this about?

The petitioners sought extension of time to deposit a deficit amount towards an interim order of the Debts Recovery Tribunal. The court permitted payment of the balance deficit in two installments by late October and late November 2013, directing future governance by the Tribunal.

What did the court decide?

Permission granted to pay ₹3 lakhs by October 31, 2013 and remaining ₹6 lakhs by November 30, 2013, in addition to equated monthly instalments.

Viswambharabn Vaidyan.S Vs the Authrized Officer — Banking and Recovery | Kerala HC (2013)

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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 V.CHITAMBARESH

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SATURDAY, THE 5TH DAY OF OCTOBER 2013/13TH ASWINA, 1935

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OP (DRT).No. 3437 of 2013 (O)

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AGAINST THE ORDER/JUDGMENT IN SA 437/2013 of DEBT RECOVERY TRIBUNAL, ERNAKULAM

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PETITIONER(S):

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VISWAMBHARAN VAIDYAN.S S/O. SUKUMARAN, DIVYA BHAVAN AYOOR P.O., KOLLAM.

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RADHAKUMARI C., W/O. VISWAMBHARAN VAIDYAN.S DIVYA BHAVAN, AYOOR P.O., KOLLAM.

BY ADVS.SRI.N.SASI

SMT.T.M.BINITHA

RESPONDENT(S):

THE AUTHORIZED OFFICER STATE BANK OF TRAVANCORE STRESSED ASSET RESOLUTION CENTRE ARPAN TOWERS, KADAPPAKKADA KOLLAM 691 008.

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BRANCH MANAGER STATE BANK OF TRAVANCORE KOLLAM, MAIN BRANCH BISHOP JEROME NAGAR P.B. NO. 54, KOLLAM PIN 691 011.

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BY SRI.R.S.KALKURA, SC, SBT

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THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 05-10-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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OP(DRT) NO. 3437/2013

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APPENDIX

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PETITIONER(S) EXHIBITS

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EXHIBIT P1	:	TRUE COPY OF THE S.A. NO. 437/2013 FILED BEFORE THE DRT, ERNAKULAM
EXHIBIT P2	:	TRUE COPY OF THE I.A. NO. 1688/2013 IN S.A. NO. 437/2013 FILED BEFORE THE DRT, ERNAKULAM
EXHIBIT P3	:	TRUE COPY OF THE ORDER IN I.A. NO. 1688/2013 DATED 11.06.2013.
EXHIBIT P4	:	TRUE COPY OF THE ORDER IN I.A. NO. 2658/2013 DATED 06.09.2013.
EXHIBIT P5	:	TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS DATED 30.09.2013.

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RESPONDENT(S) EXHIBITS : NIL

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/TRUE COPY/

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P.A. TO JUDGE.

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V. CHITAMBARESH, J

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OP(DRT) NO. 3437 OF 2013

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Dated this the 5^th day of October, 2013

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JUDGMENT

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The petitioners seek extension of time to comply with the interim order passed by the Debts Recovery Tribunal in S.A. No. 437/2013 pending. The Debts Recovery Tribunal by Ext.P3 order directed the petitioners to deposit a sum of 15 lakhs in three equal monthly instalments (June, July and August). The tribunal by Ext.P4 order has extended the time to make the payment of 15 lakhs till 28.09.2013.

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The petitioners have altogether deposited a sum of 6 lakhs only and there is a deficit of 9 lakhs. The petitioners undertake to make up the deficit in the months of October and November, 2013.

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I permit the petitioners to pay a sum of 3 lakhs on or before 31.10.2013 and the balance sum of 6 lakhs on or before 30.11.2013. This will be in addition to the equated monthly instalments which the petitioners are otherwise obliged to pay.

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OP(DRT) No. 3437/2013

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The parties will be governed by further orders to be passed by the Debts Recovery Tribunal in S.A. No. 437/2013. Any default committed by the petitioners in paying the instalments will entitle the bank to resort to coercive proceedings.

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The Original Petition is disposed of.

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V. CHITAMBARESH JUDGE

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ncd

Viswambharabn Vaidyan.S v. the Authrized Officer

Case brief

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Viswambharabn Vaidyan.S v. the Authrized Officer

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