Disposed

Manoj J Chirayath v. The Manager state Bank of India

Kerala HC15 Feb 2023WP(C)/3871/2023

Case brief

AI extract

What is this about?

In WP(C) No. 3871 of 2023, the court disposed of the petition by directing the petitioner to submit a fresh One Time Settlement proposal within a week, pausing coercive steps pending the bank's decision on the new proposal.

What did the court decide?

Directing petitioner to submit fresh One Time Settlement proposal within one week; coercive steps kept in abeyance pending bank decision.

Manoj J Chirayath Vs The Manager state Bank… — Contract and Commercial Disputes | Kerala HC (2023)

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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 T.R.RAVI

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WEDNESDAY, THE 15^TH DAY OF FEBRUARY 2023 / 26TH MAGHA, 1944

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WP(C) NO. 3871 OF 2023

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PETITIONER:

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MANOJ J CHIRAYATH S/O C.M. JOSE CHERAYATH HOUSE, NELLEKUNNU P.O EAST FORT THRISSUR, PIN - 680005 BY ADVS. SUSHANTH.J. C.K.PREM RAJ PRASANTH V.C. SUSHYA RAJAN

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RESPONDENTS:

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1 THE MANAGER STATE BANK OF INDIA PATTURAKKAL BRANCH THRISSUR KERALA, PIN - 680020 2 THE AUTHORIZED OFFICER STATE BANK OF INDIA STRESSED ASSET RECOVERY BRANCH (05182) 7TH FLOOR VANKARATH TOWERS, PALARIVATTOM BY PASS JUNCTION ERNAKULAM, PIN – 682024 ADV.SRI.TOM K.THOMAS

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 3871 OF 2023

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T.R. RAVI, J.

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W. P. (C). No. 3871 of 2023

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Dated this the 15^th day of February, 2023

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JUDGMENT

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The prayer in the writ petition is to keep in abeyance the coercive proceedings initiated by the respondents and for a direction to consider Ext.P4 proposal submitted by the petitioner.

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The Standing Counsel submitted that Ext.P4 cannot be accepted at this stage and a fresh proposal will have to be submitted along with the payment of the 10% of the amount. It is submitted that as on date, the amount due will be ₹2,89,89,050/-.

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In the above circumstances, this writ petition is disposed of directing the petitioner to submit a fresh proposal for One Time Settlement within one week from today and on receipt of the same, the Bank shall consider and pass orders within a further period of one week. Coercive steps initiated will be kept in abeyance till a decision

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is taken by the Bank on the proposal that is to be submitted by the petitioner. Sd/-

T.R. RAVI

JUDGE

WP(C) NO. 3871 OF 2023

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APPENDIX OF WP(C) 3871/2023

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PETITIONER'S EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 10.01.2023 EXHIBIT P2 TRUE COPY OF THE REQUEST DATED 20.01.2023 EXHIBIT P3 TRUE COPY OF THE JUDGMENT OF THE WP(C) NO 18574 OF 2022 AND OP (DRT) NO 58 /2021 EXHIBIT P4 TRUE COPY OF THE OTS SETTLEMENT PROPOSAL ISSUED TO THE PETITIONER BY THE 2ND RESPONDENT

Manoj J Chirayath v. The Manager state Bank of India

Case brief

What is this about?

What did the court decide?

Manoj J Chirayath v. The Manager state Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

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