Disposed

Northstone Builders and Developers Pvt. Ltd. v. South Indian Bank

Kerala HC2 Feb 2021WP(C)/1364/2021

Case brief

AI extract

What is this about?

In this writ petition, the petitioner, a loan defaulting company, approached the Kerala High Court seeking to quash the bank's recovery notice citing financial distress due to the pandemic. The Court refused to intervene in contractual enforcement but directed the petitioner to approach the bank with a representation for installment payment.

What did the court decide?

Directions were issued to the petitioner to submit a representation to the Bank regarding installment payment; the Bank was directed to consider it without delay.

Northstone Builders and Developers Pvt. Ltd. Vs South… — Banking and Recovery | Kerala HC (2021)

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W.P(c).No.1364/2021-U

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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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TUESDAY, THE 02ND DAY OF FEBRUARY 2021 / 13TH MAGHA,1942

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WP(C).No.1364 OF 2021(U)

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PETITIONER:

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NORTHSTONE BUILDERS AND DEVELOPERS PVT LTD XVII/658, POST OFFICE ROAD, TRIPUNITHURA, ERNAKULAM, KERALA 682 301 REPRESENTED BY ITS MANAGING DIRECTOR.

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BY ADVS. SRI.V.B.HARI NARAYANAN SMT.RUBY P.PAULOSE SMT.SALIHA BEEVI P.A SMT.GAYATHRY.J

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RESPONDENT:

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SOUTH INDIAN BANK, PUTHENCRUZ BRANCH, PALACHUVATTIL ARCADE, ERNAKULAM, PIN - 682 308 REPRESENTED BY ITS BRANCH MANAGER.

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SRI.K.K.JOHN, STANDING COUNSEL

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P(c).No.1364/2021-U

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P.V.ASHA, J .

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----------------------------------------------------- W.P(c) No.1364 of 2021 -U

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Dated this the 2^nd day of February, 2021

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The petitioner has availed loan from the respondent Bank and the overdue amount, even according to the petitioner, comes to more than Rs.4,55,69,834/- as demanded in Ext.P1 notice issued on 07.12.2020. The petitioner points out the financial crunch in remitting the amount consequent to the Covid-19 pandemic as an added reason.

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Heard the learned Standing Counsel for the Bank also, who submitted that the petitioner can approach the Bank.

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Therefore, the petitioner would be free to approach the respondent/Bank with a representation which the respondent would consider favourably as the petitioner submits that it would be able to make payment in instalments. The respondent bank shall take appropriate action on the representation to be submitted by the petitioner, without any delay.

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The Writ Petition is disposed of accordingly.

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Sd/- (P.V.ASHA, JUDGE)

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rtr/

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W.P(c).No.1364/2021-U

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APPENDIX

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PETITIONER'S EXHIBITS:

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EXHIBIT P1 A COPY OF THE OVERDUE NOTICE DATED 7/12/2020 ISSUED BY RESPONDENT. EXHIBIT P2 A COPY OF THE REQUEST DATED 4/1/2021 SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT.

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EXHIBIT P3 A COPY OF THE NOTICE DATED 7/1/2021 ISSUED BY RESPONDENT.

Northstone Builders and Developers Pvt. Ltd. v. South Indian Bank

Case brief

What is this about?

What did the court decide?

Northstone Builders and Developers Pvt. Ltd. v. South Indian Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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