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.
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W.P. (C) No. 19244 of 2009
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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
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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
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