IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 20288 of 2007(M)
1. P.K. ACHUTHAN, AGED 45 YEARS,
... Petitioner
Vs
1. THE MANAGER,
... Respondent
2. M/S. STATE BANK OF TRAVANCORE,
3. AUTHORIZED OFFICER,
For Petitioner :SRI.P.V.ANILKUMAR
For Respondent :SRI.M.PATHROSE MATTHAI (SR.)
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :08/04/2009
O R D E R
P.R.RAMACHANDRA MENON, J.
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W.P.(C) No. 20288 of 2007
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Dated, this the 8th day of April., 2009
J U D G M E N T
The petitioner is challenging the proceedings taken by the
respondent bank under the relevant provisions of the SARFAESI Act in
respect of the amount stated as due from the petitioner to the bank under a
loan facility extended to him. When the above matter has come up for
admission before this Court on 04.07.2007, an interim order was passed
granting interim stay on condition that petitioner paid a sum of Rs.50,000/-
and filed a representation before the 1st respondent claiming the benefit of
“OTS” on which event, it was observed that the competent authority or the
2nd respondent would take a decision thereon within one month thereafter.
It was also observed that the bank would inform the petitioner as to the
amount which is liable to be paid by the petitioner for closing the loan
account under the Scheme and on satisfying the terms as above, no further
action would be taken for evicting the petitioner from the residential
building. In view of the interim order, nothing further remains to be
considered in the Writ Petition. The petitioner is at liberty to pursue his
rights and remedies flowing from the interim order as aforesaid. The above
interim order is made absolute and the Writ petition is disposed of
accordingly.
P.R.RAMACHANDRA MENON, JUDGE
kmd.