Dismissed

M/S.Pgs Hospitality v. the Chief Manager and Authorised Officer

Kerala HC11 Jan 2016WA/2480/2015

Case brief

AI extract

What is this about?

The Division Bench dismissed the writ appeal against a single judge order permitting a bank loan defaulters discharge of dues in instalments. The court held that despite non-payment even after an interim direction to remit ₹25,00,000, further interference was unjustified.

What did the court decide?

No relief was granted; the appeal was dismissed and the impugned order permitting instalment repayment was upheld.

M/S.Pgs Hospitality Vs the Chief Manager and… — Contract and Commercial Disputes | Kerala HC (2016)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE THE CHIEF JUSTICE MR.ASHOK BHUSHAN & THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE

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MONDAY, THE 11TH DAY OF JANUARY 2016/21ST POUSHA, 1937

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WA.No. 2480 of 2015 () IN WP(C).23076/2015

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AGAINST THE ORDER/JUDGMENT IN WP(C) 23076/2015 of HIGH COURT OF KERALA DATED 19-08-2015

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APPELLANT(S)/WRIT PETITIONER:

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M/S.PGS HOSPITALITY HOTEL NEELAMBHARI SUITES, VILLANCHIRA, THALAKODE P.O. ERNAKULAM DISTRICT-686 693 REPRESENTED BY ITS MANAGING PARTNER SRI.P.G.SUBRAMANIAN.

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BY ADVS.SRI.JOSEPH KODIANTHARA (SR.) SRI.G.HARIHARAN SRI.PRAVEEN.H.

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RESPONDENT(S)/RESPONDENTS :

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1. THE CHIEF MANAGER AND AUTHORISED OFFICER (UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002), M/S. FEDERAL BANK LIMITED, KOLENCHERY BRANCH ERNAKULAM DISTRICT-682 311.

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2. M/S. FEDERAL BANK LIMITED

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KOLENCHERY BRANCH, ERNAKULAM DISTRICT-682 311 REPRESENTED BY ITS CHIEF MANAGER AND AUTHORISED OFFICER. (UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002)

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3. RESERVE BANK OF INDIA ERNAKULAM NORTH, KOCHI-682 018 REPRESENTED BY ITS GENERAL MANAGER.

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R1 & R2 BY SRI.A.ANTONY

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THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 11-01-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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ASHOK BHUSHAN, C.J. &

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A.M. SHAFFIQUE, J.

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================

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W.A. No. 2480 of 2015

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===============

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Dated this, the 11^th day of January, 2016

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J U D G M E N T

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Shaffique, J.

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This appeal has been filed by the writ petitioner challenging judgment dated 19/8/2015 in WP(C) No.23076/15 by which the learned Single Judge disposed of the writ petition permitting the petitioner to discharge the entire overdue amount in two instalments starting from 15/9/2015. Petitioner filed a Review Petition as RP No.954/2015, which came to be dismissed.

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The writ petition was filed challenging SARFAESI proceedings initiated by the respondent Bank. It was inter alia contended that if sufficient time was granted to the petitioner, he will be in a position to pay back the overdue amount.

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When the appeal came up for admission, we passed an interim order directing the appellant to remit an amount of `25,00,000/- to the Bank. However, the appellant was unable to deposit the said amount also.

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W.A. No.2480/15

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-:2:-

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Learned counsel for the appellant would however submit that if sufficient time is granted, appellant will be in a position to repay the amount.

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Having heard the learned counsel for the appellant, we do not think that this Court will be justified in interfering with the judgment of the learned Single Judge. Learned Single Judge had granted time to repay the amount and no payment was made by the appellant. Even this Court has granted an opportunity to pay off the amount to the Bank. That also has not been complied with. When the liability is substantial and granting further time will affect the interest of the Bank, we do not think that this Court will be justified in interfering with the matter.

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If the appellant has any grievance with reference to the amount, his remedy is to approach the Tribunal for appropriate reliefs. In the said circumstances, we do not find any error in the judgment of the learned Single Judge and accordingly, the appeal is dismissed.

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Sd/- ASHOK BHUSHAN, CHIEF JUSTICE

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Sd/-

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A.M. SHAFFIQUE, JUDGE

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Rp11/1/2016 //True Copy//

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PS to Judge

M/S.Pgs Hospitality v. the Chief Manager and Authorised Officer

Case brief

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M/S.Pgs Hospitality v. the Chief Manager and Authorised Officer

Case brief

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