Dismissed

Dr. M.v.Sasidharan v. Kerala Financial Corporation

Kerala HC2 Jun 2015WP(C)/8641/2015

Case brief

AI extract

What is this about?

The Kerala High Court addressed a writ petition challenging proceedings under the State Finance Act concerning a loan liability of approx. Rs. 12 crores. The court noted the petitioner failed to deposit the interim amount and was attempting a private sale. It directed the petitioner to approach the authority with the authority and dismissed the writ petition.

What did the court decide?

Petitioner directed to approach the Kerala Financial Corporation. Writ petition dismissed.

Dr. M.v.Sasidharan Vs Kerala Financial… — 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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TUESDAY, THE 2ND DAY OF JUNE 2015/12TH JYAISHTA, 1937

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WP(C).No. 8641 of 2015 (E)

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PETITIONER :

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------------------

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DR. M.V.SASIDHARAN, M.S. M.Ch. CHAIRMAN & MANAGING DIRECTOR, LAXMI MEGHAN EDUCATIONAL TRUST, PULLUR P.O., KANHANGAD REG.OFFICE AT SURGI CARE CENTRE & HOSPITAL KANHANGAD.

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BY ADV. SRI.K.I.SAGEER

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RESPONDENTS :

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----------------------

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1. KERALA FINANCIAL CORPORATION, REP.BY ITS MANAGING DIRECTOR, HEAD OFFICE VELLAYAMBALAM, THIRUVANANTHAPURAM, PIN 695033.

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2. BRANCH MANAGER

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KERALA FINANCIAL CORPORATION, HIGH LANE PLAZA, M.G.ROAD, KASARAGOD-671121.

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3. STATE OF KERALA

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REP.BY ITS SECRETARY TO THE GOVERNMENT, FINANCE DEPARTMENT, SECRETARIAT THIRUVANANTHAPURAM-695001.

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R1 & R2 BY ADV. SRI.MILLU DANDAPANI,SC,K.F.C. BY SRI.T.V.GEORGE, SC, KFC R3 BY GOVERNMENT PLEADER SRI. R. RANJITH

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 8641 of 2015 (E)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT-P1: A TRUE COPY OF THE LETTER NO.140114310/09/2010 DT.25.02.2010 ISSUED BY THE 1ST RESPONDENT.

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EXHIBIT-P2: A TRUE COPY OF THE LETTER NO.140117810/401/2011 DT.27.08.2011 ISSUED BY THE 1ST RESPONDENT.

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EXHIBIT-P3: A TRUE COPY OF THE LETTER NO.140114311/426/2011 DT.06.09.2011 ISSUED BY THE 1ST RESPONDENT.

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EXHIBIT-P4: A TRUE COPY OF THE LETTER NO.140119310/699/2011 DT.12.12.2011 ISSUED BY THE 1ST RESPONDENT.

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EXHIBIT-P5: A TRUE COPY OF THE LETTER NO.140114312/282/2013 DT.02.05.2013 ISSUED BY THE 1ST RESPONDENT.

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EXHIBIT-P6: A TRUE COPY OF THE LETTER ISSUED BY THE 1ST RESPONDENT DT.07.08.2014.

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EXHIBIT-P7: A TRUE COPY OF THE DEMANT NOTICE ISSUED BY THE 1ST RESPONDENT IN RESPECT OF LOAN ACCOUNT NO.140114310.

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EXHIBIT-P8: A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 1ST RESPONDENT IN RESPECT OF LOAN ACCOUNT NO.140117810.

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EXHIBIT-P9: A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 1ST RESPONDENT IN RESPECT OF LOAN ACCOUNT NO.140114311.

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EXHIBIT-P10: A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 1ST RESPONDENT IN RESPECT OF LOAN ACCOUNT NO.140119310.

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EXHIBIT-P11: A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 1ST RESPONDENT IN RESPECT OF LOAN ACCOUNT NO.140114312.

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EXHIBIT-P12: A TRUE COPY OF THE PUBLIC NOTICE ISSUED BY THE 2ND RESPONDENT DT.NIL.

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EXHIBIT-P13: A TRUE COPY OF THE REQUEST MADE BY THE PETITIONER BEFORE THE 1ST RESPONDENT DT.03.02.2015.

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RESPONDENT(S)' EXHIBITS : NIL.

//TRUE COPY//

P.A. TO JUDGE

A.MUHAMED MUSTAQUE, J.

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*******************************************************

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W.P.(C) No.8641 of 2015

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*******************************************************

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Dated this the 2^nd day of June, 2015

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JUDGMENT

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The petitioner challenges the proceedings under the State Finance Act before this Court. The admitted liability of the petitioner is around Rs.12 crores as on 1.3.2015. This Court while on 23.3.2015 passed an interim order on condition that the petitioner shall deposit Rs.50 lakhs on or before 15.5.2015. It appears that no

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amount has been paid by the petitioner. The petitioner submits that he is prepared to make an attempt for private sale and to clear the entire liability. The petitioner further submits that he is attempting for taking over loan by another financial institution also.

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I am of the view; these are all matters to be addressed to the responsible officer in the Kerala Financial Corporation. It is for the petitioner to approach that authority and establish genuineness of the claim. With that liberty, this writ petition is dismissed. No costs.

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Sd/-

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A.MUHAMED MUSTAQUE, JUDGE

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Dr. M.v.Sasidharan v. Kerala Financial Corporation

Case brief

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Dr. M.v.Sasidharan v. Kerala Financial Corporation

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