Ambiley G. vs State Bank Of Travancore on 13 July, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 19244 of 2009(A)


1. AMBILEY G., PROPRIETOR, THRIPTHY
                      ...  Petitioner

                        Vs



1. STATE BANK OF TRAVANCORE,
                       ...       Respondent

                For Petitioner  :SRI.SURIN GEORGE IPE

                For Respondent  :SRI.SATHISH NINAN

The Hon'ble MR. Justice P.R.RAMACHANDRA MENON

 Dated :13/07/2009

 O R D E R
                  P.R. RAMACHANDRA MENON J.
                    ~~~~~~~~~~~~~~~~~~~~~~~
                    W.P. (C) No. 19244 of 2009
                    ~~~~~~~~~~~~~~~~~~~~~~~
                 Dated, this the 13th day of July, 2009

                             JUDGMENT

In connection with the running of gas agency alloted by the

Hindustan Petroleum Corporation Limited, the petitioner had availed a

loan from the respondent Bank, which however could not be repaid on

time as scheduled. Pursuant to the further steps taken, the godown was

sealed and the possession was taken by the respondent Bank, which

led to other deterrent steps taken by the HPCL as well. Subsequently,

the petitioner cleared the entire liability to the HPCL, pursuant to which

they issued Ext.P4 letter dated 19.6.2009, directing the petitioner to

forward the action plan for commencing the distributorship operations

without delay.

2. The learned counsel for the petitioner submits that, the

petitioner, in the said circumstances, has approached the respondent

Bank, by filing a representation dated 24.6.2009 for permission to

operate the LPG godown, offering to effect substantial payment

towards the arrears to the Bank and to have the loan regularized. The

learned counsel for the petitioner further submits that, the petitioner is

very much ready and willing to deposit a sum of Rs.3,00,000/- on or

before the 15th of this month. The learned counsel for the respondent

Bank submits that, if any such remittance is made by the petitioner on

WP (C) No. 19244 of 2009
: 2 :

or before 15th of this month, the Bank will intimate the petitioner as to

the further amount to be paid for regularizing the loan account within a

week. On serving the intimation as above, the petitioner is to clear the

entire outstanding amount towards the defaulted EMIs and expenses

within a further period of two weeks thereafter.

3. In the above facts and circumstances, the respondent is

hereby directed to hand over the key of the premises of the petitioner

on her remitting a sum of Rs.3,00,000/- (Rupees Three lakhs only) to

the Bank, so as to enable her to make appropriate arrangements to run

the LPG distributorship in terms of Ext.P4 and serve the general public

at large. It is also made clear that, once the due amount as above is

cleared by the petitioner, the loan account will stand regularized and all

further proceedings taken by the Bank, invoking the relevant provisions

under the SARFAESI Act, will stand deferred, for the time being. It is

further made clear that, if the petitioner fails to clear the outstanding

liability as above, the Bank will be at liberty to re-possess the premises

without any further notice and to proceed with further steps.

The Writ Petition is disposed of as above.

P. R. RAMACHANDRA MENON, JUDGE

kmd