High Court in writ petition allowed petitioner to pay loan dues in installments while disposing of the writ, noting failure to comply with interim direction justifies resumption of recovery if orders are violated.
Petitioner ordered to pay Rs.10,00,000 by 31.01.2017 and Rs.15,00,000 by 15.02.2017; writ disposed conditional on compliance.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN
THURSDAY, THE 12TH DAY OF JANUARY 2017/22ND POUSHA, 1938
SA 139/2016 of DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER(S):
1. SRI.CHAND GAS AGENCIES, 507-H-3, GECO COMPLEX, NADAKKAVU CROSS ROAD, CALICUT-673 011, REPRESENTED BY THE MANAGING PARTNER.
2. JITHIN CHAND P., CHAND,33/2832A, PAROPPADY,MARIKUNNU P.O., CALICUT 673 012.
3. JAYASREE JAYAMOHAN CHAND, 33/2832A, PARAPPADY, MARIKUNNU P.O., CALICUT 673 012.
BY ADV. SRI.S.EASWARAN
RESPONDENT(S):
1. HDFC BANK, 3RD FLOOR, CHOICE TOWERs, MANORAMA JUNCTION, ERNAKULAM, REPRESENTED BY ITS AUTHORIZED OFFICER 682 016.
2. THE DEBT RECOVERY TRIBUNAL-II, 1ST FLOOR,HOUSING BOARD BUILDING, PANAMPILLY NAGAR,KOCHI 16, REPRESENTED BY ITS REGISTRAR
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 12-01-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
EL
OP (DRT).No. 112 of 2016 (O)
APPENDIX
PETITIONER(S)' EXHIBITS ----------------------EXHIBIT P1 COPY OF S.A. NO 139 OF 2016 FILED BY THE BY THE PETITIONERS BEFORE THE DEBTS RECOVERY TRIBUNAL EXHIBIT P2 COPY OF THE JUDGMENT DATED 3-10-2016 IN W.P(C) NO 30870 OF 2016 EXHIBIT P3 COPY OF THE ORDER DATED 17-11-2016 IN CRL.M.P NO 1153/2016 ON THE FILED OF CJM COURT, KOZHIKODE EXHIBIT P4 COPY OF THE A DIARY PROCEEDINGS IN S.A.139/2016 ON THE FILE OF DEBT RECOVERY TRIBUNAL -II ERNAKULAM RESPONDENT(S)' EXHIBITS -----------------------
NIL
TRUE COPY
P.S. TO JUDGE
EL
K. VINOD CHANDRAN, J.
===================== O.P(DRT)No.112 of 2016 - O
========================= Dated this the 12th day of January, 2017
J U D G M E N T
The petitioner was aggrieved with the direction of the
Debt Recovery Tribunal (DRT), to pay an amount of Rs.50,00,000/-, as evidenced from Ext.P4. This Court at the time of admission on 28.11.2016, directed the petitioner to pay Rs.25,00,000/- within two days. The same was done.
submits that there is a total outstanding of more than Rs.2.5 crores in the loan account and the loan itself was declared as Non Performing Asset as early as on 2015. Time further sought
is a delaying tactic, is the contention raised.
2
OP(DRT) No.112/16
contentions before the Appellate Tribunal. In such circumstance, if the petitioner deposits an amount of Rs.10,00,000/- (Rupees ten lakhs only) on or before 31.01.2017 and another Rs.15,00,000/- (Rupees fifteen lakhs only) on or before 15.02.2017, the matter shall be considered by the DRT, as expeditiously as possible, at any rate, within a period of three months from the date of production of a certified copy of this judgment or atleast ensure that regular monthly payments are made to the loan account by the petitioner.
The writ petition would stand disposed of, making it clear that if the directions in this judgment are not complied with, then the respondents would be entitled to resume the recovery proceedings.
Sd/- K. VINOD CHANDRAN, JUDGE
SB/12/01/2017
// true copy //
P.A to Judge
2 issues framed by the court
Whether to accord relief to the petitioner aggrieved by the DRT order while allowing the writ petition to stand disposed.
Whether to permit the petitioner to pay directed amounts in installments without resuming recovery proceedings.
SRI.CHAND GAS AGENCIES & ORS.
HDFC BANK
THE DEBT RECOVERY TRIBUNAL-II, ERNAKULAM
K VINOD CHANDRAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
