Allowed

A.Shajahan v. Authorised Officer(Reg.Manager)Ks.Co.Op.

Kerala HC1 Feb 2013WP(C)/1595/2010

Case brief

AI extract

What is this about?

In this writ petition, the petitioner, a defaulter on a business loan, sought a direction for the bank to consider his application for the One-Time Settlement (OTS) Scheme. The court directed the bank to consider the application if made within two weeks and pass orders within four weeks, while keeping an interim stay in force.

What did the court decide?

Directed the respondent Bank to consider the petitioner's application for OTS Scheme within four weeks if made within two weeks.

A.Shajahan Vs Authorised Officer(Reg.Manager)… — Contract and Commercial Disputes | 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 ANTONY DOMINIC

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FRIDAY, THE 1ST DAY OF FEBRUARY 2013/12TH MAGHA 1934

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WP(C).No. 1595 of 2010 (Y)

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PETITIONER(S):

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A.SHAJAHAN, AGED 42, S/O. ASANARU PILLAI, RESIDING AT MANACAUD VILAKOM,THEKKEVEEDU ANDOOR KONAM,KANIYAPURAM P.O.,THIRUVANANTHAPURAM.

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BY ADV. SRI.A.B.MOHANAKUMAR

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RESPONDENT(S):

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THE AUTHORISED OFFICER (REGIONAL MANAGER-IN-CHIEF),KERALA STATE CO-OPERATIVE BANK,STATE CO-OPERATIVE BANK,BUILDING OVERBRIDGE JUNCTION,THIRUVANANTHAPURAM-1.

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THE MANAGER, KERALA STATE CO-OPERATIVE BANK,VAZHUTHACAUD,BRANCH THIRUVANANTHAPURAM.

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BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK BY ADV. SRI.K.RAVIKUMAR, SC, KERALA STATE COOPERATIVE -

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BANK LTD.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01-02-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 1595 of 2010

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APPENDIX

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EXHIBIT

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EXT.P1TRUE COPY OF THE NOTICE DATED 16.12.09 FOR AUCTION SALE ISSUED TO THE PETITIONER AND HIS WIFE FROM THE RESPONDENT BANK.

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/true copy/

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sd/- P.A. To Judge

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ANTONY DOMINIC, J

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........................................ W.P.(C).1595/2010

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.............................................. Dated this the 1^st day of February, 2013

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JUDGMENT

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Heard the learned counsel for the petitioner and the learned Standing Counsel appearing for the respondent Bank.

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Petitioner is a defaulter to a business loan availed of from the respondent Bank. When SARFAESI proceedings were initiated, he filed this writ petition seeking a direction to the Bank to extend him the benefit of OTS Scheme introduced by the Bank. At the stage of admission, this Court granted stay on condition that the petitioner remits Rs.1,00,000/- which order has been complied with.

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As already stated, the only prayer of the petitioner is that he should get the benefit of OTS Scheme. For that purpose, it is for the petitioner to make an application to the Bank and if such an application is made, Bank should necessarily consider the same and in accordance with the Scheme.

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W.P.(C).1595/10

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Therefore, I direct that it will be open to the petitioner to make an application for the benefit of OTS Scheme and if such an application is made within two weeks from today, Bank shall consider the same and pass orders thereon, within four weeks thereafter. It is directed that in the meanwhile, the interim order passed by this Court on 18.1.2010, will remain in force.

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Writ petition is disposed of as above.

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Sd/- ANTONY DOMINIC, JUDGE

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mrcs

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/true copy/

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sd/- P.A. To Judge

A.Shajahan v. Authorised Officer(Reg.Manager)Ks.Co.Op.

Case brief

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A.Shajahan v. Authorised Officer(Reg.Manager)Ks.Co.Op.

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