Dismissed

Jose Meladath v. the South Indian Bank Ltd, Rep. by Its Authorized Officer

Kerala HC10 Jun 2015WP(C)/1159/2015

Case brief

AI extract

What is this about?

This writ petition concerns the petitioner's request to renew cash credit facilities by clearing overdue amounts. The Court directed the petitioner to request the Bank within one week and stipulated that the Bank must consider it within two weeks. A further four-month timeline for settlement was granted if no renewal was effected.

What did the court decide?

Petitioner directed to request Bank renewal within one week; Bank to consider within two weeks; additional four months granted to settle liability if not renewed, subject to deposit of overdue amount

Jose Meladath Vs the South Indian Bank Ltd… — Contract and Commercial Disputes | Kerala HC (2015)

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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 A.MUHAMED MUSTAQUE

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WEDNESDAY, THE 10TH DAY OF JUNE 2015/20TH JYAISHTA, 1937

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W.P.(C).No. 1159 of 2015 (T)

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PETITIONER :

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JOSE MELADATH, MELADATH HOUSE, KUREEKAD P.O, ERNAKULAM - 682 305

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BY ADV. SMT.E.V. MOLY

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RESPONDENT :

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THE SOUTH INDIAN BANK LTD. REGIONAL OFFICE, ERNAKULAM, SIB BUILDING, INFO PARK ROAD, RAJAGIRI VALLEY P.O., KAKKANAD - 682 039 REPRESENTED BY ITS AUTHORIZED OFFICER

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R BY SRI. K.K. JOHN,SC,SOUTH INDIAN BANK

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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bpr

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WP(C).No. 1159 of 2015 (T)

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APPENDIX

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PETITIONER'S EXHIBITS

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EXT. P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 16/12/14 ISSUED UNDER SARFAESI ACT.

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EXT. P2 THE TRUE COPY OF THE ACCOUNT STATEMENT.

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RESPONDENT'S EXHIBITS : NIL

//TRUE COPY//

P.S. TO JUDGE

bpr

A.MUHAMED MUSTAQUE, J. ~~~~~~~~~~~~~~~~~~~~~~~~~ W.P.(C).No.1159/2015

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Dated this the 10^th Day of June, 2015

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J U D G M E N T

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The petitioner has availed certain cash credit facilities from the respondent-Bank. It is submitted by the learned counsel for the petitioner that he has cleared some of the accounts and he is prepared to renew the other account/s after clearing any overdue amounts.

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The learned counsel for the Bank submits that the petitioner is not entitled for any such relief. It is submitted that the petitioner is not doing any business.

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I am of the view that if the petitioner makes a request before the Bank and satisfies the Bank about the genuineness of the claim, certainly, the Bank will not have any impediment in accommodating such a request of the petitioner for renewing the cash credit facilities after clearing any overdue amounts.

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W.P.(C).No.1159/2015

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-:2:-

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Therefore, the following directions are issued:

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i. The petitioner shall make a request as above

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before the Bank within one week from the date of receipt of a copy of this judgment.

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ii. Thereafter, the Bank shall consider the request within a further period of two weeks.

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iii. If the petitioner's cash credit facilities are not renewed and, the petitioner and the Bank could not reach at a settlement, the petitioner will be given a further four more months to settle the entire liability under the account on condition that the petitioner deposits the overdue amount within one month from today.

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The writ petition is disposed of as above. No costs.

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SD/-

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A.MUHAMED MUSTAQUE, JUDGE

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Jose Meladath v. the South Indian Bank Ltd, Rep. by Its Authorized Officer

Case brief

What is this about?

What did the court decide?

Jose Meladath v. the South Indian Bank Ltd, Rep. by Its Authorized Officer

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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