Writ petition filed against bank seeking stay on gold auction. Court granted relief allowing installment payments of Rs. 23 lakhs within 30 days for loan regularization.
Petitioner directed to remit Rs.10 lakhs within 15 days and further Rs.13 lakhs thereafter; Bank to regularize loan upon payment.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 14TH DAY OF DECEMBER 2021 / 23RD AGRAHAYANA, 1943
WP(C) NO. 13537 OF 2021
PETITIONER:
BIJI SANJEEV, AGED 49 YEARS, W/O. SANJEEV, PROPRIETOR, M/S. ECO RUBBER, KONCHERY HOUSE, MAYITHARA MARKET P.O, CHERTHALA, ALAPPUZHA DISTRICT, PIN-688539
BY ADVS. V.MAHENDRANATH P.T.SHEEJISH
RESPONDENT:
THE BRANCH MANAGER, DHANLAXMI BANK, ALAPPUZHA BRANCH, ALAPPUZHA-688 011
BY ADV C.K.KARUNAKARAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14.12.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.13537/2021
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JUDGMENT
Dated this the 14th day of December, 2021
The writ petitioner is a Woman Small Scale Industrial Entrepreneur. She is the Proprietor of Rubber Product Processor Firm by name “Eco Rubber”. To finance the Small Scale Industry, the petitioner pledged certain gold ornaments and obtained a loan of Rs.95 lakhs from the respondent-Bank.
WP(C).No.13537/2021
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petition seeking to keep auction process on hold and permit the petitioner to pay the loan amount in installments without hampering the conduct of business and the living of the family of the petitioner.
WP(C).No.13537/2021
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and the learned Standing Counsel representing the respondent.
i) The petitioner shall remit an amount of Rs.10 lakhs within a period of 15 days from today.
WP(C).No.13537/2021
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ii) The petitioner shall remit a further amount of Rs.13
lakhs within a further period of 15 days thereafter.
iii) If the petitioner thus remits Rs.23 lakhs as directed
above and submits an application for regularisation/rearrangement of loan in the name of the petitioner's husband, the respondent shall consider such application in accordance with law.
iv) If the petitioner commits default in making payment
as directed above, the respondent will be at liberty to proceed
against the petitioner in accordance with law.
Sd/- N. NAGARESH JUDGE
SR
WP(C).No.13537/2021
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APPENDIX OF WP(C) 13537/2021
PETITIONER'S EXHIBITS:
Exhibit P1 THE TRUE COPY OF THE AUCTION NOTICE DATED 20.04.2021 ISSUED BY THE RESPONDENT. Exhibit P2 THE TRUE COPY OF THE REQUEST LETTER DATED 02.05.2021 MADE BY THE PETITIONER BEFORE THE RESPONDENT.
3 issues framed by the court
Whether aWomanSmallScaleIndustrialEntrepreneurdefaulthonaloesecuredbygoldsouldbequashedandwaiveonaorderofrepaymentunderthepandemic
Whetherthecourtsanctionawarrantyperiodofrepaymentandregulationofloanaccount
Whetherthebankingintenderestigationofloanaccountnamesofthewomenentrepreneurshusband
1 provisions across 1 enactments
Biji Sanjeev
The Branch Manager, Dhanlaxmi Bank, Alappuzha Branch
N. Nagares J
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
