{"id":293,"date":"2008-08-26T00:00:00","date_gmt":"2008-08-25T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/c-k-ajith-vs-kerala-state-co-op-bank-ltd-on-26-august-2008"},"modified":"2017-06-04T06:29:55","modified_gmt":"2017-06-04T00:59:55","slug":"c-k-ajith-vs-kerala-state-co-op-bank-ltd-on-26-august-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/c-k-ajith-vs-kerala-state-co-op-bank-ltd-on-26-august-2008","title":{"rendered":"C.K.Ajith vs Kerala State Co.Op.Bank Ltd on 26 August, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">C.K.Ajith vs Kerala State Co.Op.Bank Ltd on 26 August, 2008<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 25589 of 2008(U)\n\n\n1. C.K.AJITH, 41 YEARS,\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. KERALA STATE CO.OP.BANK LTD.\n                       ...       Respondent\n\n2. REGIONAL MANAGER,\n\n3. BRANCH MANAGER, KERALA STATE CO.OP.\n\n                For Petitioner  :SRI.K.RAMANATHAN\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN\n\n Dated :26\/08\/2008\n\n O R D E R\n         THOTTATHIL B. RADHAKRISHNAN, J.\n-----------------------------------------------\n           W.P.(C) NO.25589 OF 2008 (U)\n-----------------------------------------------\n     Dated this the 26th day of August, 2008\n\n                   J U D G M E N T\n<\/pre>\n<p>    Heard the learned counsel for the petitioner and<\/p>\n<p>the learned counsel appears for the respondents.<\/p>\n<p>2.  The petitioner challenges proceedings initiated<\/p>\n<p>under  the  SARFAESI   Act.  The  transaction   is not<\/p>\n<p>disputed. The default is also not in dispute. The<\/p>\n<p>recovery proceedings are, therefore, beyond challenge.<\/p>\n<p>The recovery proceedings are      initiated under the<\/p>\n<p>SARFAESI Act and the petitioner waives his right to<\/p>\n<p>move the D.R.T. under the SARFAESI Act. Under such<\/p>\n<p>circumstances, the learned counsel for the petitioner<\/p>\n<p>confines  his  submission   to  a   request  that  the<\/p>\n<p>petitioner may be given six months&#8217; time to wipe off<\/p>\n<p>the entire outstandings.\n<\/p>\n<p>W.P.(C) No.25589\/2008\n<\/p>\n<p>                               &#8211; 2 &#8211;\n<\/p>\n<p>\n     For     the    foregoing  reasons, after  hearing the<\/p>\n<p>learned counsel for the parties, this writ petition is<\/p>\n<p>ordered directing that if petitioner remits at the rate<\/p>\n<p>of Rs.75,000\/- per month, payable on or before the 15th<\/p>\n<p>day of every month, commencing from September, 2008,<\/p>\n<p>the    impugned      action  will   be held  back and  the<\/p>\n<p>petitioner will be given an opportunity to wipe off the<\/p>\n<p>entire outstandings subject to any reduction in the<\/p>\n<p>total    outstandings      that  may  be  effected by  the<\/p>\n<p>respondents on any request of the petitioner. If there<\/p>\n<p>is default in remitting any of the afore-directed<\/p>\n<p>instalments, the benefit of this judgment will stand<\/p>\n<p>recalled and the writ petition will stand dismissed<\/p>\n<p>automatically, enabling the respondents to forthwith<\/p>\n<p>proceed with further distress action.<\/p>\n<p>                           THOTTATHIL B. RADHAKRISHNAN,<br \/>\n                                          JUDGE<br \/>\nskr\/27\/8<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court C.K.Ajith vs Kerala State Co.Op.Bank Ltd on 26 August, 2008 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 25589 of 2008(U) 1. C.K.AJITH, 41 YEARS, &#8230; Petitioner Vs 1. KERALA STATE CO.OP.BANK LTD. &#8230; Respondent 2. REGIONAL MANAGER, 3. BRANCH MANAGER, KERALA STATE CO.OP. For Petitioner :SRI.K.RAMANATHAN 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-293","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>C.K.Ajith vs Kerala State Co.Op.Bank Ltd on 26 August, 2008 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/c-k-ajith-vs-kerala-state-co-op-bank-ltd-on-26-august-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C.K.Ajith vs Kerala State Co.Op.Bank Ltd on 26 August, 2008 - Free Judgements of Supreme Court &amp; 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