IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 15835 of 2009(Y)
1. SURESH KUMAR.T.R., S/O.RAMAN NAIR,
... Petitioner
Vs
1. STATE OF KERALA REPRESENTED BY THE
... Respondent
2. PATHANAMTHITTA DISTRICT CO-OPERATIVE
3. AUTHORISED OFFICER, SECURITIZATION
For Petitioner :SRI.SAJITH KUMAR V.
For Respondent : No Appearance
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :23/06/2009
O R D E R
P.R. RAMACHANDRA MENON, J.
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W.P.(C)No. 15835 OF 2009
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Dated this the 23rd June, 2009
J U D G M E N T
The case of the petitioner is that though he happened to be
a defaulter in repaying the loan availed from the second
respondent -Co-operative Bank, earnest efforts are being made
to clear the liability by arranging funds from different sources.
The coercive steps stated as now being pursued against him,
invoking the relevant provisions under the SARFAESI Act are
sought to be intercepted by filing the present Writ Petition, also
referring to the grievances projected in Ext . P3 representation
already filed before the second respondent, seeking for scaling
down the liability to the eligible extent and to have it settled
under ‘OTS’.
2. The learned Counsel appearing for the respondent-Bank
submits that the liability of the petitioner under the two different
loans will be above Rs. Five lakhs, including interest and cost.
The learned Counsel for the Bank also submits that if the
petitioner proves his bonafides , the Bank will definitely consider
W.P.(C)No. 15835 OF 2009
2
Ext.P3 in accordance with law.
3. Considering the facts and circumstances, the petitioner
is directed to pay a sum of Rs. One lakh within three weeks and
on such an event, the second respondent shall consider Ext. P3
representation preferred by the petitioner and pass appropriate
orders thereon, after giving an opportunity of hearing to the
petitioner. On conveying the outcome of Ext.P3, the petitioner
shall clear the entire balance amount within one month there
after.
The Writ Petition is disposed of as above, making it clear
that all coercive proceedings stated as now being pursued
against the petitioner shall be kept in abeyance till such time.
P.R. RAMACHANDRA MENON,
JUDGE.
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