Disposed

Juss Traders, v. Hdb Financial Services Ltd.

Kerala HC9 Jan 2020WP(C)/324/2020

Case brief

AI extract

What is this about?

The Court disposed of the writ petition by directing petitioners to immediately file a requisite application for the One Time Settlement Scheme before the Ernakulam Branch of the respondent bank, along with supporting materials, and to allow the bank to consider and decide within two weeks.

What did the court decide?

Petitioners directed to immediately file the requisite application for OTS scheme before the Ernakulam Branch along with materials; Bank to consider and decide within two weeks.

Juss Traders, Vs Hdb Financial Services Ltd. — 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 MR. JUSTICE ALEXANDER THOMAS

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THURSDAY, THE 09TH DAY OF JANUARY 2020 / 19TH POUSHA, 1941

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WP(C).No.324 OF 2020(M)

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PETITIONERS:

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1 JUSS TRADERS, 12/235A, MAYITHARA P.O., CHERTHALA, REPRESENTED BY THE MANAGING PARTNER, SUDHA UNNI, AGED 44, W/O.UNNIKRISHNAN NAIR T., KOCHUMADATHIL, CHERUVARANAM, AYYAPPANCHERIL, MUTTATHIPPARAMBU P.O., CHERTHALA, ALAPPUZHA - 688 527.

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2 UNNIKRISHNAN NAIR T., AGED 46 YEARS KOCHUMADATHIL, CHERUVARANAM, AYYAPPANCHERIL, MUTTATHIPPARAMBU P.O., CHERTHALA, ALAPPUZHA - 688 527.

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BY ADVS. SRI.V.MAHENDRANATH SRI.R.SYLESHWAREN NAIR

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RESPONDENT:

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HDB FINANCIAL SERVICES LTD., REPRESENTED BY ITS AUTHORISED OFFICER, REGD OFFICE, RADHIKA, 2ND FLOOR, LAW GARDEN ROAD, NAVARANGAPURA, AHMEDABAD, GUJARAT - 380 009.

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BY ADVS. SRI.P.PAULACHAN ANTONY, SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P(C). No. 324 of 2020

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ALEXANDER THOMAS, J.

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W.P(C). No. 324 of 2020

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Dated this the 9^th day of January, 2020

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JUDGMENT

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The prayers in the above writ petition (civil) are as follows:-

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“i) To give a direction to the respondent to include the loan account of the petitioner OTS Scheme and settle the matter.

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ii) Grant such other reliefs which this Hon'ble Court may deem fit and proper to grant in the circumstances of the case in order to meet the ends of Justice.”

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Heard Sri.V.Mahendranath, the learned counsel appearing

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for the petitioners and Sri.P.Paulochan Antony, the learned Counsel appearing for the respondent.

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Sri.V.Mahendranath, learned counsel appearing for the petitioners would submit on the basis of instructions from his parties that the petitioners have already submitted the requisite application for grant of the benefit of the One Time Settlement (OTS Scheme) in respect of the loan transaction in question and the said application has been submitted before the respondent Bank, the Registered Office of which is at Ahmedabad, Gujarat State. Sri. P.Paulochan Antony, the learned counsel for the respondent would submit that the loan

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W.P(C). No. 324 of 2020

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transaction has been entered into by the petitioner with the Ernakulam Branch of the respondent HDB Financial Services Ltd, and that the instructions given by the Branch Manager/Authorized officer is that as of now the petitioners have not submitted any requisite application for claiming the benefit of OTS Scheme before the said branch and that the said application is to be preferred by the petitioners before the Ernakulam branch of the respondent bank etc,. Further it is pointed out by the learned counsel for the respondent that, as of now, the total outstanding dues owed by the petitioners in the present loan transaction is Rs.23,63,776/-(Rupees Twenty Three Lakhs Sixty Three Thousand Seven Hundred and Seventy Six only), after waiver of penal interest and that the respondent Bank is prepared to waive a further amount of Rs.84,228/- (Rupees Eighty Four Thousand Two Hundred and Twenty Eight only) from out of the said amounts.

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Having regard to the submissions in both sides and taking note of the pleadings and documents on record, it is ordered in the interest of justice, it is for the petitioners to immediately file the requisite application for grant of benefit of the One Time Settlement (OTS Scheme) before the Ernakulam Branch of the respondent Bank, without

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W.P(C). No. 324 of 2020

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much delay along with the requisite materials and if such a requisite application is so filed before the said branch of the respondent bank then, the competent Officer of the respondent financial institution will take up the claim for OTS for consideration and after affording reasonable opportunity of being heard to the petitioners, will take a considered decision thereon, without much delay preferably, within a period of two weeks from the date of receipt of a certified copy of this judgment.

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With these observations and directions the above Writ petition (Civil) will stand disposed of.

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Sd/ALEXANDER THOMAS, JUDGE

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KAS

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W.P(C). No. 324 of 2020

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APPENDIX

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PETITIONER'S/S EXHIBITS:

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EXHIBIT P1 TRUE COPY OF THE APPLICATION OF THE PETITIONER DATED 31/10/2019 SEEKING INCLUSION OF THE LOAN ACCOUNT IN THE OTS SCHEME.

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EXHIBIT P2 TRUE COPY OF THE LETTER FROM THE RESPONDENT RECALLING THE LOAN FACILITY PROVIDED TO THE PETITIONER.

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RESPONDENT'S/S EXHIBITS: NIL

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//TRUE COPY// PA TO JUDGE

Juss Traders, v. Hdb Financial Services Ltd.

Case brief

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Juss Traders, v. Hdb Financial Services Ltd.

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