G.Ravindran Nair vs The Managing Director on 5 August, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 21921 of 2009(I)


1. G.RAVINDRAN NAIR,
                      ...  Petitioner

                        Vs



1. THE MANAGING DIRECTOR,
                       ...       Respondent

2. THE BRANCH MANAGER,

                For Petitioner  :SRI.A.C.DEVY

                For Respondent  : No Appearance

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

 Dated :05/08/2009

 O R D E R
                  P.R. RAMACHANDRA MENON J.
                    ~~~~~~~~~~~~~~~~~~~~~~~
                     W.P. (C) No. 21921 of 2009
                    ~~~~~~~~~~~~~~~~~~~~~~~
                Dated, this the 5th day of August, 2009

                              JUDGMENT

The petitioner had availed a loan of Rs. 2.18 lakhs for starting an

‘SSI’ unit in the year 1988. Admittedly, the petitioner could not satisfy

the repayments on time and in view of the default, the respondents

proceeded with the coercive steps, which was sought to be intercepted

praying for the benefit of ‘OTS’.

2. As evident from the records produced by the petitioner himself,

the respondents had extended much indulgence, enabling the

petitioner to discharge the liability offering the benefit of ‘OTS’. As

borne by Ext.P1, the petitioner was directed to have the liability settled

by paying a sum of Rs.7 lakhs on or before 31.8.98. Pursuant to the

repeated representations including Ext.P2, further chances were given

to the petitioner and as per Ext.P3 dated 23.9.95, the petitioner was

directed to deposit the requisite amount as specified therein on or

before 30.10.2005. The period was extended further till the year 2007,

but nothing transpired in positive, which made the outstanding liability

to be mounted up, which as on date is Rs.72.93 lakhs.

3. The learned counsel appearing for the respondents submits

that, though the facility for OTS stands expired, considering the

particular facts and circumstances and the sequence of events, the

WP (C) No. 21921 of 2009
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petitioner’s case can be treated as a ‘special case’ and that the

respondents are ready and willing to consider the matter afresh,

provided the petitioner deposits a sum of Rs.10 lakhs within two weeks

and submits an application in this regard.

3. In the above facts and circumstances, the petitioner is directed

to deposit a sum of Rs. 10 lakhs within three weeks, simultaneously

filing a petition for considering the case under ‘OTS’ and on such an

event, the first respondent shall cause the matter to be considered by

the competent authority. The final decision in this regard shall be taken

as expeditiously as possible, at any rate within 3 months. It is also

made clear that, if any tender has been received pursuant to Ext.P11

notification, the same shall be kept in abeyance and all further

proceedings will be subject to the orders to be passed by the

respondents in the application to be preferred by the petitioner for

availing the benefit of ‘OTS’ as stated hereinbefore. If the petitioner

commits any default in satisfying the requirements as above, the

respondents are at liberty to proceed with further steps for realization of

the entire amount in lump sum, from the stage where it stands now.

The Writ Petition is disposed of accordingly.

P. R. RAMACHANDRA MENON, JUDGE
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