Dismissed

V.N.Radhakrishnan v. the Manager, State Bank of Travancore

Kerala HC8 Feb 2013WP(C)/33084/2008

Case brief

AI extract

What is this about?

In a writ petition challenging SARFAESI proceedings for a default in a Suvidha loan, the Court permitted the petitioner to clear the dues in five equal monthly instalments. Payment status quo is maintained pending compliance; default allows the Bank to resume recovery.

What did the court decide?

Petitioner permitted to pay balance due in five equal monthly instalments; status quo maintained subject to payment; default allows bank to continue recovery.

V.N.Radhakrishnan Vs the Manager, State Bank of Travancore — 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 ANTONY DOMINIC

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FRIDAY, THE 8TH DAY OF FEBRUARY 2013/19TH MAGHA 1934

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WP(C).No. 33084 of 2008 (L)

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PETITIONER(S):

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V.N.RADHAKRISHNAN, VENMELIL KIZHAKKETHIL HOUSE, PAZHAVANGADI P.O.

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BY ADV. SRI.V.SETHUNATH

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RESPONDENT(S):

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1. THE MANAGER, STATE BANK OF TRAVANCORE, RANNI.

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2. NISHAD.L.S, ADVOCATE, PATHANAMTHITTA P.O., PIN 689 645.

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

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08-02-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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tss

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W.P.(C) NO.33084/2008

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APPENDIX

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PETITIONER'S EXHIBITS:-

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P1:- COPY OF THE NOTICE ISSUED BY THE IST RESPONDENT DTD. 14.8.2008.

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P2:- COPY OF THE STATEMENT OF ACCOUNTS PERTAINING TO THE SUVIDHA LOAN DT.D 30.6.2008.

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P3:- COPY OF THE TAX RECEIPT DTD 9.7.08 .

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P4:- COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DT. 4.11.08.

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RESPONDENT'S EXHIBITS:-

NIL

//TRUE COPY//

P.A. TO JUDGE

tss

ANTONY DOMINIC,J

W.P.(C) No.33084 of 2008

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Dated this the 8^th day of February, 2013

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JUDGMENT

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Heard the learned counsel for the petitioner and the

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learned standing counsel appearing for the respondent Bank.

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Petitioner along with his brother availed of a loan from the respondent Bank. Default was committed and SARFAESI proceedings were initiated. It is challenging those proceedings, the writ petition is filed.

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When the writ petition was taken up, the request made by the counsel for the petitioner was only for an instalment facility to pay the balance amount due.

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Taking note of the limited nature of the relief that is sought for, I direct that the petitioner be permitted to pay the amount due to the Bank in five equal monthly instalments. First instalment shall be paid on or before 25.02.2013 and the subsequent instalments shall be paid

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W.P.(c) No.33084 of 2008

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: 2 :

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on or before the 25^th of every succeeding month. Subject to payment as above, status quo as on today will be maintained and in case of default, the Bank will be free to continue the recovery action.

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Writ petition is disposed of as above.

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Sd/- ANTONY DOMINIC, JUDGE

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V.N.Radhakrishnan v. the Manager, State Bank of Travancore

Case brief

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V.N.Radhakrishnan v. the Manager, State Bank of Travancore

Case brief

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What the court decided

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