The Mes International School v. State Bank of India
Case brief
What is this about?
The High Court of Kerala disposed of a writ petition challenging SARFAESI Act proceedings. Due to jurisdictional bars preventing merits review, the Court exercised discretion to grant the petitioner flexibility. It allowed payment of Rs. 50 lakhs upfront followed by the balance in eight monthly installments to regularize the account.
What did the court decide?
Directed petitioner to pay Rs. 50 lakhs by 27.01.2021 and clear balance in eight monthly installments from 20.02.2021 to regularize the loan account.
What the court decided
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
THURSDAY, THE 07TH DAY OF JANUARY 2021 / 17TH POUSHA, 1942
WP(C).No.124 OF 2021(M)
PETITIONER:
THE MES INTERNATIONAL SCHOOL PATTAMBI, PALAKKAD-679 303, REPRESENTED BY ITS SECRETARY, MR. ABDUL GAFOOR A, AGED 44, S/O. A. MOHAMMEDKUTTY.
BY ADV. SRI.THOMAS P.KURUVILLA
RESPONDENT:
STATE BANK OF INDIA MELE PATTAMBI BRANCH, PALAKKAD-679 303, REPRESENTED BY ITS MANAGER.
R1 BY SHRI.TOM K.THOMAS - GP
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Issues for consideration
3 issues framed by the court
Whether the High Court can grant leniency to allow the petitioner to pay overdue loan amounts in installments despite jurisdictional bars under SARFAESI Act.
Whether the petitioner can regularize its loan account by paying a lath amount upfront and repaying the balance in installments.
Whether the conditions set by the bank for regularizing the loan were accepted to dispose of the writ petition allowing flexibility.
Parties & counsel
- petitioner
THE MES INTERNATIONAL SCHOOL PATTAMBI, PALAKKAD
- respondent
STATE BANK OF INDIA MELE PATTAMBI BRANCH, PALAKKAD
Coram
DEVAN RAMACHANDRAN
Case details
As recorded by the court registry
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