Disposed

Shali K J, v. the Branch Manager

Kerala HC12 Apr 2024WP(C)/7732/2024

Case brief

AI extract

What is this about?

Writ petition against loan recovery notices by a housing finance company and asset reconstruction company. Court directed that if the petitioner remits ₹1.5 lakhs and submits a concrete One Time Settlement proposal within two weeks, respondents shall consider it in accordance with law, coercive proceedings standing deferred meanwhile.

What did the court decide?

Petitioner allowed to remit ₹1.5 lakhs and file concrete OTS proposal within two weeks; respondents to consider it; coercive proceedings deferred till decision.

Shali K J, Vs the Branch Manager — Contract and Commercial Disputes | 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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FRIDAY, THE 12^TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946 WP(C) NO. 7732 OF 2024

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PETITIONER:

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SHALI K.J., AGED 52 YEARS, W/O BIJU K DEVASSY, KADAPPORINGAL HOUSE, EDAMPADAM, MANJUMMEL PO, UDYOGAMANDAL, ERNAKULAM – 683501, PRESENTLY RESIDING AT 39/1351, KAPPAMOODU SANTHI GARDEN B 702, THOPPIL, THRIKKAKARA P.O. ERNAKULAM, KERALA, PIN – 682021

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BY ADVS. DHEERAJ KRISHNAN PEROT FIDHA NAVAS VINEETHA A.A. SREEPRIYA K.U. MEGHA ARYA DEVASIA SREERAG S.

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RESPONDENTS:

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1 THE BRANCH MANAGER, PIRAMAL CAPITAL & HOUSING FINANCE CORPORATION LIMITED, BRANCH OFFICE: KOCHI, 5TH FLOOR, SL PLAZA, NEAR PETROL PUMP, PALARIVATTOM, ERNAKULAM, KERALA, PIN - 682025 2 AUTHORISED OFFICER, JM FINANCIAL ASSET RECONSTRUCTION COMPANY LIMITED, 7TH FLOOR, CNERGY, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI, PIN - 400025

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W.P.(C) No.7732/2024

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: 2 :

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BY ADVS. P.PAULOCHAN ANTONY P SREEJITH K.(K/380/2005)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P.(C) No.7732/2024

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JUDGMENT

Dated this the 12^th day of April , 2024

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The petitioner has filed this writ petition seeking

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the following reliefs:

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“i) To issue a writ of certiorari to set aside Exts.P1, P2 and P3 notices and to keep in abeyance all further proceedings pursuant to Exts.P1, P2 and P3. ii) To issue a writ of mandamus directing the respondent to consider Ext.P4 request submitted by the petitioner and to allow One Time Settlement of the total loan amount after the maximum possible reduction considering the petitioner's financial constraints.

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iii) Grant such other reliefs as may be prayed for in the circumstances of the case.”

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2. When this writ petition came up for hearing

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today, the learned counsel for the petitioner submitted that the petitioner may be permitted to make an offer of One Time Settlement in order to clear the liability.

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In the facts of the case, the writ petition is disposed of directing that if the petitioner remits an amount of ₹1.5 lakhs

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W.P.(C) No.7732/2024

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: 4 :

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within a period of two weeks from today and make a concrete proposal for One Time Settlement providing the settlement amount and timeline for payment within two weeks, the respondents shall consider the same and take a decision in accordance with law. If the petitioner makes the

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payment and makes an offer of One Time Settlement proposal as directed above, coercive proceedings against the petitioner shall stand deferred till the Bank takes a decision in the matter.

Sd/-

N. NAGARESH

JUDGE

W.P.(C) No.7732/2024

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APPENDIX OF WP(C) 7732/2024

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PETITIONER'S EXHIBITS:

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Exhibit P 1	TRUE	COPYOF	THE	NOTICE	DATED	22-02-
	2022	COR	RESP	ONDING	TO	LOAN
	APPLI CODE	CATION NO. 000	ID0 0990	1332226 4	HAVING	LOAN
Exhibit P2	TRUE	COPY	OF	THE N	OTICE	DATED
Exhibit P3	22.02 APPLI CODE TRUE DATED	.2022 CATION NO. 000 COPY 27.10.	CO ID 0995 OF 2023	RRESPOND 01338509 4 THEPOSSE	ING HAVIN SSION	TOLOAN G LOAN NOTICE
Exhibit P4	TRUE 19.02	COPY OF .2024SU	THE BMIT	REQUEST TED BY TH	LETTER E PETI	DATED TIONER
Exhibit P5	TRUE 22.12	COPY .2023.	OF	THE JU	DGMENT	DATED

Shali K J, v. the Branch Manager

Case brief

What is this about?

What did the court decide?

Shali K J, v. the Branch Manager

Case brief

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What did the court decide?

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