Disposed

Cherian Thomas @ Sunny Thomas v. the Authorised Officer, Sbt

Kerala HC15 Nov 2016WP(C)/16027/2016

Case brief

AI extract

What is this about?

In a writ petition regarding SARFAESI proceedings, the High Court granted an extension for the petitioner to remit a portion of the debt before the asset sale confirmation but allowed the bank to proceed with the sale unless the full liability was settled by the deadline.

What did the court decide?

Petitioner ordered to pay Rs.10 lakhs by 31/12/2016. Sale asset proclamation upheld, but confirmation of sale deferred until 31/03/2017.

Cherian Thomas @ Sunny Thomas Vs the Authorised Officer… — Banking and Recovery | 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 MR.JUSTICE A.M.SHAFFIQUE

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TUESDAY, THE 15TH DAY OF NOVEMBER 2016/24TH KARTHIKA, 1938

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WP(C).No. 16027 of 2016 (C)

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PETITIONER :

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CHERIAN THOMAS @ SUNNY THOMAS, NEDUMTHARAYIL HOUSE, KARAKKAL P.O., THIRUVALLA.

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BY SRI.GEROGE CHERIAN,SENIOR ADVOCATE ADVS. SMT.K.S.SANTHI SMT.LATHA SUSAN CHERIAN

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RESPONDENT(S):

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1. THE AUTHORISED OFFICER, (CHIEF MANAGER, ADVANCES), STATE BANK OF TRAVANCORE, REGIONAL OFFICE, THIRUVALLA, PIN-689 621.

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2. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS GENERAL MANAGER, HOUSING BOARD BUILDING COMPLEX, SANTHI NAGAR, THIRUVANANTHAPURAM, PIN-695 001.

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3. KERALA STATE CIVIL SUPPLIES CORPORATION, SUPPLY CO., TRIVANDRUM, REPRESENTED BY ITS MANAGING DIRECTOR, PIN-695 001.

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4. PUNCHA SPECIAL OFFICER, ALAPUZHA, PIN-688 001.

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5. AGRICULTURAL ASSISTANT DIRECTOR, PULIKEEZH BLOCK, THIRUVALLA, PIN-689 621.

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R1 & R2 BY ADV. SRI.R.S.KALKURA, SC, SBT R3 BY ADV. SMT.MOLLY JACOB,SC,SUPPLYCO R4 & R5 BY GOVERNMENT PLEADER SRI.V.K.SHAMSUDHEEN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15-11-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 16027 of 2016 (C)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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P1	TRUE COPY OF THE CERTIFICATE ISSUED TO THE PETITIONER BY PEOPLES DAIRY DEVELOPMENT PROJECT, KALADY.
P2	TRUE COPY OF THE CERTIFICAT ISSUED TO THE PETITIONER BY INDIA KISSAN SABHA.
P3	TRUE COPY OF THE CERTIFICATE OF MERIT AWARDED BY GOVERNMENT OF KERALA.
P4	TRUE COPY OF THE REPRESENTATION DATED 4.1.15 FILED BY THE PETITIONER
P5	TRUE COPY OF THE LETTER DATED 8.1.15 ISSUED BY THE RESPONDENT BANK.
P6	TRUE COPY OF THE CONSOLIDATED STATEMENT DATED 4.3.15 ISSUED BY RESPONDENT
P7	TRUE COPY OF THE POSSESSION NOTICE DATED 24.3.15
P8	TRUE COPY OF THE LETTER DATED 21.10.15 BY PETITIONER TO BANK
P9	TRUE COPY OF THE COMPROMISE PETITION ISSUED BY BANK FOR SIGNATURE
P10	TRUE COPY OF THE PADDY PROCUREMENT STATEMENT ISSUED BY SUPPLYCO DATED 28.3.16
P11	TRUE COPY OF THE RECEIPT SHOWING DEPOSIT OF RS.15 LAKHS ON 12.4.16
P12	TRUE COPY OF THE RECEIPT SHOWING DEPOSIT OF RS.23 LAKHS ON 21.10.15
P13	TRUE COPY OF THE REPRESENTATION DATED 12.4.16 BY PETITIONER TO 1ST RESPONDENT BANK
P14	TRUE COPY OF THE LETTER DATED 1.4.16 ISSUED BY FIRST RESPONDENT BANK.
P15	TRUE COPY OF THE LETTER DATED 18/7/16 SUBMITTED BY THE PETITIONER TO THE RESPONDENT BANK.
P16	TRUE COPY OF THE EXTRACT OF THE COPY OF THE PASS BOOK OF THE PETITIONER.
P17	TRUE COPY OF THE SALE NOTICE DATED 3/11/16 ISSUED BY THE BANK

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2/-

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-2-

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WP(C).NO.16027/2016

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P18 COPY OF THE REPRESENTATION DATED 5/11/16 SUBMITTED BY THE PETITIONER.

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RESPONDENT(S)' EXHIBITS AND ANNEXURES:

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R3(A) COPY OF THE APPLICATION OF THE PETITIONER FOR PADDY PROCUREMENT ALONG WITH HIS AFFIDAVIT.

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R3(B) COPY OF THE PADDY RECEIPT SHEET IN RESPECT OF THE PETITIONER.

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R3(C) COPY OF THE PADDY RECEIPT AND PAYMENT STATUS ABSTRACT.

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ANNEX R1(A) COPY OF THE JUDGMENT OF THIS HON'BLE COURT DATED 06/07/2015 WP(C).NO.10030/2015.

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ANNEX R1(B) COPY OF THE COMPROMISE PROPOSAL DATED 04/11/2015 FORWARDED TO THE ZONAL OFFICE CREDIT COMMITTEE OF THE RESPONDENT BANK

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ANNEX R1(C) COPY OF THE MINUTES OF THE MEETING OF THE ZONAL OFFICE CREDIT COMMITTEE OF THE RESPONDENT BANK HELD ON 04/11/2015.

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ANNEX R1(D) COPY OF THE STATEMENT DATED 31/05/2016 SHOWING THE TOTAL OUTSTANDING AMOUNTS IN THE 6 ACCOUNTS IN THE NAME OF THE PETITIONER AND HIS WIFE.

/TRUE COPY/

P.A.TO JUDGE

sts

**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.16027 of 2016

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Dated this the 15^th day of November 2016

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J U D G M E N T

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Petitioner has approached this Court at a stage when SARFAESI proceedings had been initiated against the petitioner. Petitioner submits that at one stage, there was a one time settlement arrived between the parties and about 50% of the amount has been paid. Petitioner is ready and willing to remit the balance amount, but he requires time upto 31/03/2017.

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Learned counsel for the respondent/Bank, however, submits that there was a condition in the one time settlement offer that the waiver of amounts shall be subject to the petitioner remitting the amounts within a specified time. In so far as the petitioner had not remitted the said amount within the specified time, petitioner is liable to pay the entire amount with interest and cost. It is also submitted that the secured asset is proclaimed for sale on 09/12/2016. It is further submitted that presently a sum of Rs.1.73 Crores is due from the petitioner.

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I do not think that I should look into the controversy between the parties relating to the one time settlement scheme in

W.P.C.No.16027/2016

the present lis.

Learned counsel for the petitioner submits that if time is granted upto 31/03/2017, the entire liability with the respondent Bank will be settled by the petitioner.

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Having regard to the aforesaid submission, I am of the view that some indulgence can be shown to the petitioner. Accordingly, this writ petition is disposed of as under:

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i) The petitioner shall pay an amount of Rs.10,00,000/(Rupees ten lakhs only) on or before 31/12/2016.

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ii) The bank shall be entitled to proceed with the sale of the secured asset, as proclaimed. However, confirmation of sale shall be deferred until 31/03/2017.

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iii) In the meantime, it shall be open for the petitioner to settle the entire liability with the respondent Bank, failing which, it shall be open for the Bank to proceed further, in accordance with law.

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(sd/-)

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jsr

Cherian Thomas @ Sunny Thomas v. the Authorised Officer, Sbt

Case brief

What is this about?

What did the court decide?

Cherian Thomas @ Sunny Thomas v. the Authorised Officer, Sbt

Case brief

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