Kerala High Court
WP(C)/41761/2017 of LAJESHK.L Vs AUTHORISED OFFICER (SENIOR MANAGER) on 29 December 2017
COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN FRIDAY, THE 29TH DAY OF DECEMBER 2017/8TH POUSHA, 1939 WP(C).No. 41761 of 2017 (U) ---------------------------- PETITIONER: ------------------ LAJESHK.L., AGED 43 YEARS, S/O.LAKSHMANAN, KURIYAKOTT HOUSE,
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
FRIDAY, THE 29TH DAY OF DECEMBER 2017/8TH POUSHA, 1939
WP(C).No. 41761 of 2017 (U)
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PETITIONER:------------------
LAJESHK.L.,
AGED 43 YEARS, S/O.LAKSHMANAN, KURIYAKOTT HOUSE, KAIPRAMBU PO, THRISSUR
BY ADVS.SRI.K.A.SREEJITH SRI.P.V.SREENIVASAN
BY SRI.S.B.PREMACHANDRA PRABHU, SC,
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29-12-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No. 41761 of 2017 (U)
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PETITIONER(S)' EXHIBITS
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EXHIBIT P1 THE TRUE COPY OF THE PUBLIC AUCTION NOTICE
EXHIBIT P2 TRUE COPY OF THE PAPER PUBLICATION
EXHIBIT P3 TRUE COPY OF THE JUDGMENT IN WPC.NO. 5225/16
EXHIBIT P4 TRUE COPY OF THE REQUEST FOR ONE TIME SETTLEMENT
RESPONDENT(S)' EXHIBITSNIL
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/TRUE COPY/
PA TO JUDGE
sdr/-
DEVAN RAMACHANDRAN, J.
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W.P. (C) No.41761 of 2017
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Dated this the 29[th] day of December, 2017
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J U D G M E N T
The petitioner says that he had availed a vehicle loan from the Corporation Bank to purchase a bus for an amount ofRs.36 lakhs for a period of 81 months starting from 06.07.2013.According to him, the EMI payable on the bus was Rs.64,012/-.The petitioner concedes that he was in default, which compelledthe Bank to initiate recovery proceedings and that the petitioner,therefore, approached this Court and obtained Ext.P3 judgment.
2. As per Ext.P3, this Court had directed the petitioner toremit Rs.3 lakhs within a period of one month from the date ofreceipt of the judgment, as also the balance overdue amounts ason that day, in eight equal monthly instalments. According to thepetitioner, he has complied with the directions in the saidjudgment but admits that certain subsequent default have alsooccurred from his side. He says that the Bank is now proposingto take further action under the provisions of the SARFAESI Act.
3. The learned Standing Counsel appearing for the Bankhas filed a statement wherein it is stated that the petitioner hasnot complied with the directions in Ext.P3 judgment. Theyfurther say that as on 21.12.2017, a total amount ofRs.34,10,767/- is due in the loan account, from the petitioner. Itis their specific submission that the petitioner's application forOne Time Settlement facility namely, Ext.P4 is unlikely to beconsidered since he has only offered Rs.20 lakhs. However, theysay that the application will be forwarded to the higher authorityfor taking final decision.
4. Taking into account the submissions of the learnedStanding Counsel for the Bank, I am of the view that,notwithstanding whether the petitioner has complied with Ext.P3judgment or otherwise, he may be given an opportunity to settlethe entire loan amount through One Time Settlement if the Bankis inclined to allow him to do so. Of course, the figures shown inExt.P4 is only a suggestion made by the petitioner and the Bankwill be entitled to impose a larger amount, if it is so warranted.
For the above reasons, I order this writ petition directingthe Bank to consider Ext.P4 application made by the petitioner W.P.(C) No.41761/2017
for One Time Settlement and to take appropriate decisionthereon within a period of one month from the date of receipt ofa copy of this judgment. Needless to say, until such time as afinal decision is taken on Ext.P4 and communicated to thepetitioner, all further steps for recovery of the loan amount fromhim shall stand deferred.
Sd/-
DEVAN RAMACHANDRANJUDGE
smp