{"id":30396,"date":"2008-04-02T00:00:00","date_gmt":"2008-04-01T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/p-o-preman-vs-union-bank-of-india-on-2-april-2008"},"modified":"2014-11-30T01:21:00","modified_gmt":"2014-11-29T19:51:00","slug":"p-o-preman-vs-union-bank-of-india-on-2-april-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/p-o-preman-vs-union-bank-of-india-on-2-april-2008","title":{"rendered":"P.O.Preman vs Union Bank Of India on 2 April, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">P.O.Preman vs Union Bank Of India on 2 April, 2008<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C) No. 11289 of 2008(R)\n\n\n1. P.O.PREMAN, PROPRIETOR, OPAL\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. UNION BANK OF INDIA, REPRESENTED BY\n                       ...       Respondent\n\n                For Petitioner  :SRI.P.M.PAREETH\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice ANTONY DOMINIC\n\n Dated :02\/04\/2008\n\n O R D E R\n                          ANTONY DOMINIC, J.\n             ------------------------------------\n                        W.P.(C) 11289 of 2008\n             -------------------------------------\n                         Dated: APRIL 2, 2008\n\n                              JUDGMENT\n<\/pre>\n<p>      Petitioner had availed of financial assistance in the form of<\/p>\n<p>letter of credit to his export business. It is stated that towards the<\/p>\n<p>default that was committed, the liability has been substantially<\/p>\n<p>cleared and despite that, more than Rs.50 lakhs still remains due. It<\/p>\n<p>is on account of this, the bank has initiated proceedings under the<\/p>\n<p>Securitization    and   Reconstruction   of   Financial  Assets   and<\/p>\n<p>Enforcement of Security Interest Act, 2002 and Ext.P1 is the notice<\/p>\n<p>issued. The petitioner does not contest the liability as such, but<\/p>\n<p>only seeks waiver of the dues to the extent possible and for this, it<\/p>\n<p>does not appear that the petitioner has made a formal application.<\/p>\n<p>      2.   However, on instructions, the standing counsel submits<\/p>\n<p>that in case the petitioner makes an appropriate application, that<\/p>\n<p>will be considered for eligible concessions. However, he insists that<\/p>\n<p>the petitioner should make a satisfactory payment at the earliest.<\/p>\n<p>WP(C) 11289\/08<br \/>\n                            Page numbers<\/p>\n<p>      3. Having heard the counsel on both sides, I dispose of this<\/p>\n<p>writ petition with the following directions:-<\/p>\n<p>      The petitioner shall within one month from today, remit one-<\/p>\n<p>third of the amount in any manner convenient to him.            Once<\/p>\n<p>payment is made as above, it will be open to the petitioner to make<\/p>\n<p>an appropriate representation        to the respondent for eligible<\/p>\n<p>concessions and on receipt thereof, the representation shall be<\/p>\n<p>considered in terms of the scheme that is adopted by the bank. It<\/p>\n<p>is directed that subject to payment as above, until a decision is<\/p>\n<p>taken on the representation, Ext.P1 shall be deferred. Needless to<\/p>\n<p>say that in case default is committed, the bank will be free to<\/p>\n<p>continue the action it has already taken without further notice.<\/p>\n<p>      Petitioner shall produce a copy of this judgment before the<\/p>\n<p>respondent for compliance.\n<\/p>\n<\/p>\n<p>                                           ANTONY DOMINIC, JUDGE<\/p>\n<p>mt\/-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court P.O.Preman vs Union Bank Of India on 2 April, 2008 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C) No. 11289 of 2008(R) 1. P.O.PREMAN, PROPRIETOR, OPAL &#8230; Petitioner Vs 1. UNION BANK OF INDIA, REPRESENTED BY &#8230; Respondent For Petitioner :SRI.P.M.PAREETH For Respondent : No Appearance The Hon&#8217;ble MR. Justice ANTONY [&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-30396","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>P.O.Preman vs Union Bank Of India on 2 April, 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\/p-o-preman-vs-union-bank-of-india-on-2-april-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"P.O.Preman vs Union Bank Of India on 2 April, 2008 - Free Judgements of Supreme Court &amp; 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