Dismissed

C.K Prakashan v. Punjab National Bank

Kerala HC11 Apr 2023WP(C)/3327/2023

Case brief

AI extract

What is this about?

This judgment dismisses a writ petition filed by a debtor seeking permission to pay an agreed One Time Settlement amount. The court held the petition failed due to the petitioner's non-payment, yet clarified the petitioner may file a fresh proposal later.

What did the court decide?

Prayer for permission to pay One Time Settlement amount was dismissed. Court permitted petitioner to file a fresh proposal with the Bank.

C.K Prakashan Vs Punjab National Bank — Banking and Recovery | Kerala HC (2023)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MR. JUSTICE T.R.RAVI

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TUESDAY, THE 11^TH DAY OF APRIL 2023 / 21ST CHAITHRA, 1945

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WP(C) NO. 3327 OF 2023

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PETITIONER:

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C.K PRAKASHAN AGED 54 YEARS S/O GOPALAN, PUNATHIL MEETHAL HOUSE, 5TH MILE, VELLIPARAMBA, KOZHIKODE DISTRICT., PIN - 673008

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BY ADV E.A.BIJUMON

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RESPONDENTS:

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1 PUNJAB NATIONAL BANK BANK ROAD BRANCH, KOZHIKODE-670001, REPRESENTED BY ITS MANAGER.

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2 PUNJAB NATIONAL BANK CIRCLE SASTRA CENTRE, KOZHIKODE SHATHABDI BHAVAN, MINI BYPASS ROAD, GOVINDAPURAM, KOZHIKODE - 673016

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BY ADVS.

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SRI.C.AJITH KUMAR, SC SRI.SANTHEEP ANKARATH, SC,

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 3327 OF 2023 2

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T.R. RAVI, J.

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-------------------------------------------- W.P.(C).No.3327 of 2023 -------------------------------------------Dated this the 11^th day of April, 2023

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JUDGMENT

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The prayer in the writ petition is for permission to pay the amount of Rs.2.85 crores as One Time Settlement which was earlier agreed to. The Standing Counsel for the Bank submits that since the petitioner did not make any payment, the One Time Settlement has failed and this fact has been informed to the petitioner also. This Court had also granted stay on condition of payment, which was not complied by the petitioner.

¶20

In the above circumstances, nothing survives in this writ petition and the writ petition is dismissed. The dismissal of the writ petition will not stand in the way of the petitioner approaching the Bank with a fresh proposal for One Time Settlement and if such an application is filed, the Bank may consider the same and inform the decision to the petitioner.

¶21

Sd/T.R.RAVI JUDGE

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LEK

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WP(C) NO. 3327 OF 2023 3

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APPENDIX OF WP(C) 3327/2023

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PETITIONER EXHIBITS

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Exhibit P1 TRUE COPY OF THE SECTION 13(4) NOTICE DATED 15.11.2021. Exhibit P2 TRUE COPY OF THE ADVOCATE COMMISSIONER'S NOTICE IN CMP NO. 1393/2022 DATED 19.01.2023. Exhibit P3 TRUE COPY OF THE PAYMENT RECEIPT DATED 30.01.2023.

C.K Prakashan v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

C.K Prakashan v. Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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