Kerala High Court
WP(C)/30544/2012 of KRISHNADAS T. Vs STATE BANK OF INDIA on 31 December 2012
COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 31ST DAY OF DECEMBER 2012/10TH POUSHA 1934 WP(C). No. 30544 of 2012 (P) --------------------------- PETITIONER: ---------- KRISHNADAS T., AGED 41 YEARS PROPRIETOR. M/S. V.V. ORGANIC MANURE, 35/468(8) MAIN
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE ANTONY DOMINIC
MONDAY, THE 31ST DAY OF DECEMBER 2012/10TH POUSHA 1934
WP(C). No. 30544 of 2012 (P)
---------------------------
PETITIONER:
----------
KRISHNADAS T., AGED 41 YEARS
PROPRIETOR. M/S. V.V. ORGANIC MANURE, 35/468(8)
MAIN ROAD, OLAVAKKODE, PALGHAT-678 002.
BY ADVS. SRI. T.M. SREEDHARAN (SR.)
SRI. V.P. NARAYANAN
SMT. DIVYA RAVINDRAN
RESPONDENTS:
-----------
1. STATE BANK OF INDIA
BRANCH CODE NO.893, PALAKKAD, PB NO.8
ENGLISH CHURCH STREET, PALAKKAD-678 001.
2. THE AUTHORISED OFFICER
STATE BANK OF INDIA, RASMECCC, STATE BANK BUILDINGS
E.C. ROAD, PALAKKAD-682 036.
BY SRI. N. RAJAGOPALAN NAIR, SC, STATE BANK OF INDIA
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31-12-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C). No. 30544 of 2012 (P)
APPENDIX
PETITIONER'S EXHIBITS:-
RESPONDENTS' EXHIBITS:- NIL
//TRUE COPY//
P.A. TO JUDGE
ANTONY DOMINIC, J.
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W.P.(C) NO. 30544 OF 2012
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Dated this the 31[st] day of December, 2012
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J U D G M E N T
Petitioner had availed of a cash credit facility and a termloan from the respondent Bank. Presently, amounts are remainingunpaid in the cash credit facility. Although on a previous occasionpetitioner had approached this Court by filing WP(C) No. 13073/11and secured Ext.P6 judgment enabling settlement of the liabilityin the manner as stated therein, liability remains unsettled andthat led to continuation of SARFAESI proceedings. Accordingly,the Bank has notified the property for sale. It is at that stage thiswrit petition is filed and the only request made by the petitioner isto allow him a short time so that he can settle the entire liabilitydue to the Bank towards the cash credit facility now remainingoutstanding.
2. Having heard the learned counsel for the petitionerand also the learned standing counsel appearing for the Bank,since the request of the petitioner is a limited one, I am inclinedto allow the same, but however, that can only be subject toconditions.
3. Therefore, I dispose of this writ petition directing thatstatus quo as on today will be maintained for a period of sixweeks and this is only to enable the petitioner to settle theliability in the meanwhile. However, it will be subject to thecondition that the petitioner shall remit an amount of `10,00,000/-(Rupees ten lakhs only) within two weeks and the continuance ofthe status quo will be subject to compliance with that condition.
Writ petition is disposed of as above.
Rp
ANTONY DOMINIC, JUDGE