Partly allowed

Senior Manager, Punjab National Bank v. Ratheesh

Kerala HC7 Apr 2014RP/275/2014

Case brief

AI extract

What is this about?

The Court disposed of a review petition filed by the Bank. It modified the prior order by directing the defaulting customer to satisfy the entire outstanding liability within two months instead of eight, keeping coercive proceedings in abeyance pending compliance.

What did the court decide?

Directed the respondent to satisfy the entire liability within two months; coercive proceedings stayed during this period.

Senior Manager, Punjab National Bank Vs Ratheesh — Banking and Recovery | Kerala HC (2014)

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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 P.R.RAMACHANDRA MENON

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MONDAY, THE 7TH DAY OF APRIL 2014/17TH CHAITHRA, 1936

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RP.No. 275 of 2014 (D) IN WP(C).5640/2014

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AGAINST THE ORDER/JUDGMENT IN WP(C) 5640/2014 of HIGH COURT OF KERALA DATED 04-03-2014

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REVIEW PETITIONER(S)/REVIEW PETITIONERS:

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1. SENIOR MANAGER, PUNJAB NATIONAL BANK, NADAKKADU, KOZHIKODE-673 001.

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2. AUTHORIZED OFFICER/CHIEF MANAGER, PUNJAB NATIONAL BANK, SATHABDHI BHAVAN, MINI BYEPASS ROAD, GOVINDAPURAM, KOZHIKODE-673 001.

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BY ADV. SRI.K.P.SUDHEER

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RESPONDENT(S)/RESPONDENTS:

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RATHEESH, S/O.BALAN, THALIYADATH HOUSE, SOBHALAYAM, KALOOR ROAD, KOZHIKODE-673 007.

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BY SRI.P.V.KUNHIKRISHNAN

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THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 07-04-2014, THE COURT ON THE SAME DAY PASSED THE FOLLOWING:

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R.P.No.275 OF 2014

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APPENDIX

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PETITIONERS' ANNEXURES:

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ANNEXURE A1:	CERTIFIED COPY OF JUDGMENT DATED 4TH MARCH 2014 IN
	WPC 5640/14 OF THIS HON'BLE COURT.
ANNEXURE A2:	COPY OF LETTER DATED 6.3.2014 FROM THE 1ST PETITIONER ADDRESSED TO THE 2ND PETITIONER.

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RESPONDENT'S ANNEXURES: NIL

/TRUE COPY/

P.A. TO JUDGE

VPV

P.R.RAMACHANDRA MENON, J.

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=-=-=-=-=-=-=-=-=-=-=-=-=-=

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R.P.No.275 of 2014

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W.P.(C)No.5640 of 2014

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=-=-=-=-=-=-=-=-=-=-=-=-=-=

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Dated this the 7^th day of April, 2014

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ORDER

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The respondents in the writ petition have approached this Court by filing the review petition pointing out that the writ petitioner was permitted to satisfy the entire outstanding liability by way of 'eight' equal monthly installments commencing from 20^th day of March 2014 onwards, simultaneously intercepted the coercive proceedings.

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The learned counsel for the review petitioners submits that the prayer of the writ petitioner was to permit him to satisfy the entire liability within 'two months' and that the Bank does not have any objection in granting the said relief. The review petition is to facilitate such a course.

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Heard the learned counsel appearing for the respondent

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who was the writ petitioner before this Court. The learned counsel for the respondent submits that the petitioner is ready to satisfy the entire liability within two months as sought for in the writ petition.

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R.P.No.275 of 2014 in W.P.(C)No.5640 of 2014

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After hearing both the sides, the review petition is disposed of, directing the writ petitioner to satisfy the entire outstanding liability within two months from today. Coercive proceedings, if any, shall be kept in abeyance till such time. It is made clear that, if any default is committed by the writ petitioner in satisfying the entire liability as above, the Bank will be at liberty to proceed against the petitioner for realization of the entire amount in a lump, from the stage where it stands now.

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Review petition stands disposed of, modifying the judgment as aforesaid.

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Sd/-

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P.R.RAMACHANDRA MENON JUDGE

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vpv

Senior Manager, Punjab National Bank v. Ratheesh

Case brief

What is this about?

What did the court decide?

Senior Manager, Punjab National Bank v. Ratheesh

Case brief

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