{"id":171124,"date":"2009-11-20T00:00:00","date_gmt":"2009-11-19T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/catholic-syrian-bank-limited-vs-k-b-kannan-on-20-november-2009"},"modified":"2014-10-19T02:44:26","modified_gmt":"2014-10-18T21:14:26","slug":"catholic-syrian-bank-limited-vs-k-b-kannan-on-20-november-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/catholic-syrian-bank-limited-vs-k-b-kannan-on-20-november-2009","title":{"rendered":"Catholic Syrian Bank Limited vs K.B. Kannan on 20 November, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">Catholic Syrian Bank Limited vs K.B. Kannan on 20 November, 2009<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nRP.No. 949 of 2009()\n\n\n1. CATHOLIC SYRIAN BANK LIMITED,\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. K.B. KANNAN, AGED 41 YEARS, S\/O. (LATE)\n                       ...       Respondent\n\n2. M\/S KRISHNA OIL MILLS BASIN ROAD,\n\n3. KUNJUMANI, W\/O. K.K. KRISHNAN, PARTNER,\n\n4. SUMANGALA, W\/O. K.K. BALAN,\n\n5. K.B. DHANAPALAN, S\/O. K.K. BALAN,\n\n                For Petitioner  :SRI.C.A.JOY\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice P.R.RAMAN\nThe Hon'ble MR. Justice P.BHAVADASAN\n\n Dated :20\/11\/2009\n\n O R D E R\n<\/pre>\n<p>                    P.R.RAMAN &amp; P.BHAVADASAN, JJ.\n<\/p>\n<p>           &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;\n<\/p>\n<p>                      RP No.949\/09 in RFA No.324\/08 &amp;<br \/>\n                      RP No.950\/09 in RFA No.326\/08\n<\/p>\n<p>           &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;\n<\/p>\n<p>                          Dated 20th November 2009<\/p>\n<p>                                        Order<\/p>\n<p>Bhavadasan, J.\n<\/p>\n<p>      These Review Petitions have been filed by the Catholic Syrian<\/p>\n<p>Bank, seeking review of the common Judgment of this Court in RFA<\/p>\n<p>Nos.324 &amp; 326 of 2008 dated 19.08.2009.\n<\/p>\n<p>      2. It is seen that the respondents herein had availed of a loan<\/p>\n<p>from the Bank and had suffered decree. In the appeals filed by the<\/p>\n<p>respondents herein, they challenged only the rate of interest. Finding<\/p>\n<p>that the rate claimed @ 23% was against the principles laid down in<\/p>\n<p>the decision reported in <a href=\"\/doc\/1423031\/\">Central Bank of India v. Ravindra and<\/p>\n<p>Others (AIR<\/a> 2001 SC 3095), the appeals were allowed to the extent<\/p>\n<p>that the appellants in the First Appeals will be liable to pay interest,<\/p>\n<p>only @12% from the date of decree, till the date of payment of the<\/p>\n<p>amounts, which have already been made. This Court also directed<\/p>\n<p>that if the appellants in the RFAs deposit a sum of Rs.7,00,000\/-<\/p>\n<p>(Rupees Seven Lakhs only) within three weeks, it will deemed that<\/p>\n<p>the decrees in both the suits will be deemed to have been satisfied.<\/p>\n<p><span class=\"hidden_text\">RP Nos.949 &amp; 950\/09               2<\/span><\/p>\n<p>      3. Now, the Bank has come forward with the Review Petitions,<\/p>\n<p>pointing out that the amount directed to be paid by the appellants<\/p>\n<p>should have been Rs.7,00,000\/- (Rupees Seven Lakhs only) each in<\/p>\n<p>both the appeals and the Judgment of this Court may be modified to<\/p>\n<p>that extent.\n<\/p>\n<p>      4. We are afraid, the claim made by the Bank is not correct. It<\/p>\n<p>was only after taking note of the loan amount disbursed to the<\/p>\n<p>appellants in the First Appeals and the amounts paid by them, that<\/p>\n<p>the Judgment and decree of the Court below was modified by this<\/p>\n<p>Court. What was intended was, if Rs.7,00,000\/- (Rupees Seven<\/p>\n<p>Lakhs only) was paid, the decrees in both the suits will be deemed to<\/p>\n<p>have been satisfied. There is no error, apparent on the face of the<\/p>\n<p>record, as claimed by the Bank. So, these Review Petitions are<\/p>\n<p>devoid of any merit and they are accordingly dismissed.<\/p>\n<p>                                  P.R.RAMAN, JUDGE<\/p>\n<p>                                  P.BHAVADASAN, JUDGE<br \/>\nsta<\/p>\n<p><span class=\"hidden_text\">RP Nos.949 &amp; 950\/09    3<\/span><\/p>\n<p><span class=\"hidden_text\">RP Nos.949 &amp; 950\/09    4<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court Catholic Syrian Bank Limited vs K.B. Kannan on 20 November, 2009 IN THE HIGH COURT OF KERALA AT ERNAKULAM RP.No. 949 of 2009() 1. CATHOLIC SYRIAN BANK LIMITED, &#8230; Petitioner Vs 1. K.B. KANNAN, AGED 41 YEARS, S\/O. (LATE) &#8230; Respondent 2. M\/S KRISHNA OIL MILLS BASIN ROAD, 3. KUNJUMANI, W\/O. K.K. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-171124","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Catholic Syrian Bank Limited vs K.B. 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