IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 5617 of 2008(R)
1. A.K.MOHANAN,S/O.KUTTY, AREEKKATTU HOUSE
... Petitioner
Vs
1. UNION BANK OF INDIA, REPRESENTED BY ITS
... Respondent
2. ZONAL MANAGER, ZONAL OFFICE
3. BRANCH MANAGER,UNION BANK OF INDIA
For Petitioner :SRI.LATHEESH SEBASTIAN
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :26/02/2008
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) NO. 5617 OF 2008 R
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Dated this the 26th day of February, 2008
J U D G M E N T
In this writ petition, the request of the petitioner is for a
direction to the respondents to consider Ext.P5, where he has
sought for the benefit of One Time Settlement Scheme. It is
seen that when proceedings were initiated against the petitioner
under the Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, he had filed a writ
petition in this court as WP(C) No.25722/07 and that writ petition
was disposed of by Ext.P2 judgment.
2. In that judgment, he was directed to make an initial
payment of Rs.1.25 lakhs and to pay the balance in four equal
monthly instalments. It is submitted by the counsel for the Bank
that though the petitioner has made the initial payment, the
instalments have been completely defaulted. In view of this, I
am satisfied that the petitioner does not deserve an order from
WPC 5617/08
:2 :
this court as sought for in this writ petition.
3. Inspite of the fact that the Bank has no scheme for
OTS, the learned counsel for the Bank submits that if the
petitioner clears atleast three of the defaulted instalments, the
Bank is still willing to consider the request made by the petitioner
in Ext.P5 sympathetically.
4. Taking into account the submissions made as above, I
direct that if the petitioner remits three out of the 4 monthly
instalments directed to be paid in Ext.P2 within a period of two
weeks from today, the Bank shall consider Ext.P5 representation
made by the petitioner.
5. A decision on Ext.P5 shall thereafter be communicated
to the petitioner as expeditiously as possible, at any rate, within
three weeks thereafter and depending on the decision so
communicated, the balance amount will be paid by the petitioner.
Writ petition is disposed of as above.
ANTONY DOMINIC,JUDGE.
Rp