Disposed

Thomas P S v. Punjab National Bank Represented by Its Authorised Officer

Kerala HC15 Jan 2024RP/19/2024

Case brief

AI extract

What is this about?

Review petition over a writ seeking to quash SARFAESI recovery proceedings against a borrower. Counsel reported the petitioner had paid the agreed amount and the loan account stood closed; the court disposed of the petition recording that submission.

What did the court decide?

Loan account recorded as closed; no further orders passed in the review petition.

Thomas P S Vs Punjab National Bank Represented by Its… — Banking and Recovery | Kerala HC (2024)

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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 N.NAGARESH

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MONDAY, THE 15TH DAY OF JANUARY 2024 / 25TH POUSHA, 1945

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RP NO. 19 OF 2024

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AGAINST THE JUDGMENT IN WP(C) 42913/2023 OF HIGH COURT OF KERALA

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REVIEW PETITIONER/PETITIONER:

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THOMAS P S
AGED 43 YEARS
S/O.CHERIYAN SALAS PARAPURAM HOUSE, AYATHUPADY,
KOOVAPADY, PERUMBAVOOR, ERNAKULAM DISTRICT,
PIN – 683544

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BY ADV E.V.MOLY

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RESPONDENT/RESPONDENT:

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PUNJAB NATIONAL BANK
REPRESENTED BY ITS AUTHORISED OFFICER
CIRCLE SASTHRA CENTRE, ERNAKULAM, 2ND FLOOR,
CIRCLE OFFICE, PNB HOUSE, MARKET ROAD,
ERNAKULAM, PIN – 682011

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SMT.UMARANI M.N.

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THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON
15.01.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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RP No.19 of 2024 in W.P.(C) No.42913 of 2023

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ORDER

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Dated this the 15^th day of January, 2024

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This Review Petition is filed in W.P.(C) No.42913 of 2023. W.P.(C) No.42913 of 2023 was filed by the petitioner seeking to quash proceedings initiated by the respondentBank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

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In the writ petition, this Court noted that as per Ext.P2 Award, there was an agreement between the parties to settle the loan account by the petitioner paying ₹15,87,600/on or before 30.09.2023. The petitioner could not stick to the

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time schedule prescribed in the Award. In such circumstances, the writ petition was dismissed, however, making it clear that it will be open to the petitioner to approach the respondent for any further arrangement in the matter.

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RP No.19 of 2024 in W.P.(C) No.42913 of 2023

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3. The petitioner has filed this Review Petition alleging

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errors on the face of the records of the case. During the pendency of this writ petition, it was stated on behalf of the Bank that as per the Award, the amount payable by the petitioner was ₹11,40,518/- if paid in time and if the petitioner is ready to pay an amount of ₹12,92,669.83 immediately, the loan account can be closed.

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The petitioner was granted permission to pay the said amount as per the interim order of this Court dated 11.01.2024, within 48 hours.

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When the Review Petition came up for hearing today, the counsel on either side submitted that the petitioner has made the aforesaid payment and the loan account of the petitioner now stands closed.

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In view of the above, there is no lis between the parties and considering the facts of the case, I do not find it is

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RP No.19 of 2024 in W.P.(C) No.42913 of 2023

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necessary to pass further orders in this Review Petition.

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The Review Petition is therefore disposed of recording

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the submission made by the parties that the petitioner’s loan

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account stands settled.

Sd/-

N.NAGARESH

JUDGE

spk

Thomas P S v. Punjab National Bank Represented by Its Authorised Officer

Case brief

What is this about?

What did the court decide?

Thomas P S v. Punjab National Bank Represented by Its Authorised Officer

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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