Allowed

Leema Das v. K.F.C.

Kerala HC12 Sept 2018WP(C)/3181/2013

Case brief

AI extract

What is this about?

In a writ petition challenging a notice demanding repayment of a defaulted loan with interest totaling nearly 93 lakhs, the High Court allowed the petitioner to clear dues in 10 instalments instead of immediate payment or the higher sum demanded in the Adalath settlement mentioned by the respondent counsel. Default in instalments permits proceeding with the notice.

What did the court decide?

Petitioner allowed to make payment of dues in 10 instalments; default permits proceeding with recovery notice.

Leema Das Vs K.F.C. — Contract and Commercial Disputes | Kerala HC (2018)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE SMT. JUSTICE P.V.ASHA

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WEDNESDAY,THE 12TH DAY OF SEPTEMBER 2018 / 21ST BHADRA, 1940

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WP(C).No. 3181 of 2013

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PETITIONER/S:

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LEEMA DAS

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AGED 46 YEARS 'IMMANUAL',NEDIYANCODE, DHANUVACHAPURAM, PARASUVAIKKAL P.O.,PARASSALA, THIRUVANANTHAPURAM

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BY ADVS. SRI.S.RAMESH SRI.T.NAVEEN SRI.POOJA SURENDRAN

SRI. S.SHIBU

RESPONDENT/S:

1 K.F.C.

KERALA FINANCIAL CORPORATION, REP.BY ITS MANAGING DIRECTOR, THIRUVANANTHAPURAM-695033

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2 THE CHIEF MANAGER KERALA FINANCIAL CORPORATION , BRANCH OFFICE, VELLAYAMBALAM, THIRUVANANTHAPURAM-695033

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BY ADV. SRI.BASANT BALAJI, SC, KERALA FINANCIAL CORPORATION

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 12.09.2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No. 3181 of 2013

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JUDGMENT

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The petitioner has availed a loan of Rs.250 lakhs and another loan of Rs.70 lakhs after entering into agreements dated 07.10.2008 and 09.11.2010. The loan amount was liable to be repaid in 96 monthly instalments within 8 years. Petitioner had mortgaged 23.84 cents of land and another 89.71 cents of land

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and another extent of 10 cents of land towards security for the loan. This writ petition is filed on receipt of Ext.P1 notice dated 16.01.2013 from the 2^nd respondent demanding a sum of Rs.4,17,75,055/under Section 29 of the State Financial Corporations Act, 1951.

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2. Even though in the writ petition, the petitioner submitted that she will clear the dues if some time is granted and, sufficient time has been granted since the filing of the writ petition in 2013, the learned Standing Counsel for the respondent submits that the total amount due from the petitioner

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WP(C).No. 3181 of 2013

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as at present is Rs.9,30,00,000/-. This is after deducting the payment already made by the petitioner on the basis of interim orders. The learned Standing Counsel points out that in an Adalath conducted in May, 2018 the petitioner had appeared and she was permitted to settle the dues by payment of a sum of Rs.4,90,00,000/-. It is also pointed out that on account of the recent natural calamities there is another provision also for payment of 25% of the amount on or before 30.09.2018 and to make the balance payment within three months.

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4. However, the learned counsel for the petitioner submits that petitioner is unable to make the payment before 30.09.2018.

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In the above circumstances, this writ petition is disposed of, allowing the petitioner to make payment in 10 instalments. If there is any default in any of the instalments, respondents are free to proceed with Ext.P1.

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It is made clear that petitioner would be

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WP(C).No. 3181 of 2013

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free to opt for the settlement referred to in para 3

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if she is able to make payments before 30.09.2018.

Sd/-

P.V.ASHA

JUDGE

APPENDIX

PETITIONER'S EXHIBITS :

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EXT.P1 TRUE COPY OF THE NOTICE NO.120380010/1151/2013 DATED 16.01.2013 ISSUED BY THE 2ND RESPONDENT.

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RESPONDENTS(S) EXHIBITS :

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EXT.R1(a) TRUE COPY OF NOTICE UNDER SECTION 29 OF SFC'S ACT DATED 22.02.2012.

Leema Das v. K.F.C.

Case brief

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Leema Das v. K.F.C.

Case brief

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