{"id":189366,"date":"2009-11-25T00:00:00","date_gmt":"2009-11-24T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/s-krishna-kumar-vs-the-authorised-officer-on-25-november-2009"},"modified":"2017-05-06T20:43:04","modified_gmt":"2017-05-06T15:13:04","slug":"s-krishna-kumar-vs-the-authorised-officer-on-25-november-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/s-krishna-kumar-vs-the-authorised-officer-on-25-november-2009","title":{"rendered":"S. Krishna Kumar vs The Authorised Officer on 25 November, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">S. Krishna Kumar vs The Authorised Officer on 25 November, 2009<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 33882 of 2009(E)\n\n\n1. S. KRISHNA KUMAR, AGED 44 YEARS,\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. THE AUTHORISED OFFICER,\n                       ...       Respondent\n\n2. THE ASSISTANT GENERAL MANAGER,\n\n                For Petitioner  :SRI.V.ANIL (K\/1480\/98)\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice C.K.ABDUL REHIM\n\n Dated :25\/11\/2009\n\n O R D E R\n                     C.K.ABDUL REHIM, J.\n\n                     ------------------------------\n                   W.P.(C).No.33882 OF 2009\n                     ------------------------------\n\n         Dated this the 25th day of November, 2009\n\n\n                         J U D G M E N T\n<\/pre>\n<p>                         &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-\n<\/p>\n<p>      1.   Challenge in this writ petition is against proceedings<\/p>\n<p>initiated under the Securitisation and Reconstruction of<\/p>\n<p>Financial Assets and Enforcement of Security Interest Act, 2002<\/p>\n<p>(SARFAESI Act). The petitioner was issued with Ext.P2 notice<\/p>\n<p>proposing sale of the immovable property, which is the secured<\/p>\n<p>asset.  According to the petitioner considerable payment has<\/p>\n<p>already been effected.      It is submitted that the petitioner is<\/p>\n<p>taking effective steps to sell the property and to pay off the<\/p>\n<p>entire liability, provided the Bank considers &#8216;One Time<\/p>\n<p>Settlement&#8217; and waiver of interest and expenses to the possible<\/p>\n<p>extent. As per Ext.P1 and P3 letters the petitioner made offers<\/p>\n<p>with respect to the compromise settlement. Grievance of the<\/p>\n<p>petitioner is that the Bank is not acceding to the requests made<\/p>\n<p>therein. The petitioner wants to pursue remedies before the<\/p>\n<p>authorities of the Bank to arrive at &#8216;One Time Settlement&#8217;.<\/p>\n<p>Therefore the limited prayer in this writ petition is only for a<\/p>\n<p>direction to the respondent Bank to consider such requests.<\/p>\n<p>      2.   Under the above circumstances the writ petition is<\/p>\n<p><span class=\"hidden_text\">W.P.(C).33882\/09-E               2<\/span><\/p>\n<p>disposed of reserving liberty to the petitioner to pursue remedies<\/p>\n<p>before the respondents in order to arrive at One Time Settlement<\/p>\n<p>or compromise settlement.      The respondents are directed to<\/p>\n<p>consider such requests of the petitioner in this regard and to<\/p>\n<p>inform the petitioner about the result thereof.<\/p>\n<p>                                 C.K.ABDUL REHIM, JUDGE.\n<\/p>\n<p>Okb<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court S. Krishna Kumar vs The Authorised Officer on 25 November, 2009 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 33882 of 2009(E) 1. S. KRISHNA KUMAR, AGED 44 YEARS, &#8230; Petitioner Vs 1. THE AUTHORISED OFFICER, &#8230; Respondent 2. THE ASSISTANT GENERAL MANAGER, For Petitioner :SRI.V.ANIL (K\/1480\/98) For Respondent : No [&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-189366","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>S. 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