Allowed

Sabarinath D. v. the Kerala Financial Corporation

Kerala HC28 Jan 2020WP(C)/2034/2020

Case brief

AI extract

What is this about?

The High Court of Kerala allowed a writ petition wherein the petitioner sought relief from immediate recovery proceedings due to financial stringency. The court directed respondents to permit the petitioner to pay the default amount in ten equal monthly instalments, keeping recovery proceedings in abeyance conditional on timely payment.

What did the court decide?

Direction to respondents to permit the petitioner to pay the default amount of Rs.40,64,853/- plus future interest in ten equal monthly instalments, with recovery proceedings kept in abeyance.

Sabarinath D. Vs the Kerala Financial… — Contract and Commercial Disputes | Kerala HC (2020)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MRS. JUSTICE ANU SIVARAMAN

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TUESDAY, THE 28TH DAY OF JANUARY 2020 / 8TH MAGHA, 1941

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WP(C).No.2034 OF 2020(D)

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PETITIONER:

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SABARINATH D. AGED 27 YEARS S/O.DANDAPANI, PROPRIETOR, SABARINATH TRADERS, ETHANUR, KODUVAYUR P.O., PALAKKAD DISTRICT, PIN-678 502, RESIDING AT SOPANAM, VANIYATHARA, KODUVAYUR P.O., PALAKKAD DISTRICT-678 502.

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BY ADVS. SRI.BINOY VASUDEVAN SRI.M.R.MANIKANTAN SRI.SREEJITH SREENATH SMT.V.SANDHYA

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RESPONDENTS:

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1 THE KERALA FINANCIAL CORPORATION REPRESENTED BY ITS GENERAL MANAGER, HEAD OFFICE, KANAKA NAGAR, VELLAYAMBALAM P.O., THIRUVANANTHAPURAM-695 033.

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2 THE CHIEF MANAGER, KERALA FINANCIAL CORPORATION, BRANCH OFFICE, FIRST FLOOR, CENTURY COMPLEX, MATHAKOVIL STREET, SULTHANPET, PALAKAKD-678 001.

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R2 BY ADV. SRI.M.R.VENUGOPAL R2 BY ADV. SMT.DHANYA P.ASHOKAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No.2034 OF 2020(D)

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JUDGMENT

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The petitioner has approached this Court seeking the following reliefs :-

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“i. Issue a writ of certiorari or other appropriate writs, orders or directions to call for the records leading upto Exhibit P-1 and to quash the same;

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ii. Issue a writ of mandamus or other appropriate writs, orders or directions commanding the respondent to permit the petitioner to pay off an amount of Rs.31,82,269/- together with any future interest and expenses within a period of 18 months in equal monthly installments in the interest of justice.”

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Heard the learned counsel for the petitioner and

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the learned Standing Counsel appearing for the KFC.

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It is submitted by the learned counsel for the petitioner that the petitioner has committed default in repayment of the amounts due to the KFC only due to financial constraints and that the revenue recovery proceedings initiated against the petitioner may be kept in abeyance, permitting him to make payment of the amounts due in instalments.

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The learned Standing Counsel appearing for the KFC submits that as on today, an amount of Rs.40,64,853/-

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WP(C).No.2034 OF 2020(D)

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is due from the petitioner and time can be granted to him to pay off the amount in instalments.

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Taking note of the contentions raised by the petitioner with regard to financial stringency and taking note of the submissions made on both sides, there will be a direction to the respondents to permit the petitioner to pay off the amounts found due in instalments. In the above view of the matter, this writ petition is disposed of with the following directions :-

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(a) The petitioner shall pay off the amount in default as on today amounting to Rs.40,64,853/- in respect of the loans in question along with future interest in ten equal monthly instalments. The first of such instalments shall be due on 15^th February, 2020 and the remaining instalments shall be payable on the corresponding dates of the subsequent months.

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(b) If the petitioner remits the aforesaid instalments in time, without any default, all recovery proceedings shall be kept in abeyance, so as to enable the petitioner to pay off the entire dues in monthly instalments, as

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WP(C).No.2034 OF 2020(D)

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above.

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(c) In case of any default committed by the petitioner in remitting any one of the aforesaid instalments, it would be open to the respondents to proceed further with the coercive steps, in accordance with law.

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Sd/ANU SIVARAMAN JUDGE

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Bng/29.01.2020

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WP(C).No.2034 OF 2020(D)

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APPENDIX

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PETITIONER'S EXHIBITS:

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EXHIBIT P1

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TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 04.01.2020.

Sabarinath D. v. the Kerala Financial Corporation

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Sabarinath D. v. the Kerala Financial Corporation

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