The High Court in a Writ Appeal granted a one-month extension to the petitioners (appellants) to clear defaulted loan dues under the SARFAESI Act, allowing time until 02.05.2013 to pay the amount as directed by the Single Judge.
Time granted till 02.05.2013 to make the payment as directed by the learned Single Judge.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE K.M.JOSEPH &
THE HONOURABLE MR. JUSTICE K.RAMAKRISHNAN
TUESDAY, THE 9TH DAY OF APRIL 2013/19TH CHAITHRA 1935
WA.No. 609 of 2013
--------------------------[AGAINST THE JUDGEMENT DTD. 11/03/2013 IN W.P.(C).NO.6513/2013 OF THIS HON'BLE COURT]
APPELLANTS/PETITIONERS :
1. K.G.SUNILKUMAR, AGED 45 YEARS,
2. K.G.DEEPAK,
3. SUDEEP K.G, S/O. K.M.GOPALAN, KARANAMKOTTA HOUSE, THOZHIYOOR P.O, THRISSUR DISTRICT, PIN-680 520.
4. SMT.KARTHIYANI .K, W/O. K.M.GOPALAN, KARANAMKOTTA HOUSE, THOZHIYOOR P.O, THRISSUR, PIN-680 520.
BY ADV. SMT.VANAJA MADHAVAN.
RESPONDENTS/RESPONDENTS:
1. GENERAL MANAGER, S.B.T, THIRUVANANTHAPURAM-695 001.
2. BRANCH MANAGER, STATE BANK OF TRAVANCORE, TRICHUR-680 614.
3. ASST. GENERAL MANAGER STATE BANK OF TRAVANCORE, TRICHUR-680 001.
4. UNION OF INDIA, REPRESENTED BY SECRETARY, FINANCE DEPARTMENT, NEW DELHI – 110 001.
Prv.
W.A. NO.609/2013:
5. STATE OF KERALA, REPRESENTED BY SECRETARY, INDUSTRIES DEPARTMENT, SECRETARIAT, THIRUVANANTHAPURAM – 695 001.
R1 TO R3 BY SRI.T.SETHUMADHAVAN, R4 BY SRI.P.PARAMESWARAN NAIR,A.S.G OF INDIA.
THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 09-04-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Prv.
K.M.JOSEPH & K.RAMAKRISHNAN, JJ.
--------------------------------------------------------------Writ Appeal No.609 of 2013
Dated this, the 9th day of April 2013
Judgment
K.M.Joseph, J.
Appellants are the writ petitioners. They are defaulters of loan availed of from the State Bank of Travancore, Vadanappally and proceedings under the SARFAESI Act were initiated against them. The learned single Judge, in the Writ Petition, directed as follows :
“4. Be that as it may, the bank is still willing to regularise the loan if the defaulted liability is paid by the petitioners. According to the bank, Rs.28.7 lakhs is due towards defaulted amount. However, this amount is without giving credit to the amount towards subsidy received from the District Industries Centre. I do not see any reason, why the bank should exclude the said subsidy from the liability of the petitioners. Therefore, I dispose of this writ petition directing that if the petitioners clear off the defaulted dues, after giving credit to the subsidy received, before 31.3.2013, the
WA NO.609/13
2
loan in question will be regularised and the future liability will be allowed to be paid in terms of the loan agreement.”
consideration, the learned counsel for the appellants would only submit that one month's time may be given for making the payment as directed by the learned single Judge.
parties, we dispose of the appeal by granting time till 02.05.2013 to make the payment as directed by the learned single Judge.
K.M.JOSEPH, JUDGE
K.RAMAKRISHNAN,JUDGE
sta
WA NO.609/13 3
WA NO.609/13 4
1 issue framed by the court
Whether time should be granted to appellants to comply with the single judge order directing payment of defaulted loan dues.
K.G.Sunilkumar
K.G.Deepak
Sudeep K.G
KartHIYani .K
State Bank of Travancore
Union of India
K.M.Joseph
K.Ramakrishnan
As recorded by the court registry
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