Zachaira James vs Yhe Gen.Mag.Dist. Industries … on 8 August, 2008

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

OP.No. 5417 of 1999(T)



1. ZACHAIRA JAMES
                      ...  Petitioner

                        Vs

1. YHE GEN.MAG.DIST. INDUSTRIES CENTRE
                       ...       Respondent

                For Petitioner  :SRI.V.P.SUKUMAR

                For Respondent  :SRI.K.K.CHANDRAN PILLAI

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR

 Dated :08/08/2008

 O R D E R
                     C.N.RAMACHANDRAN NAIR, J.
                ....................................................................
                             O.P. Nos.5417 of 1999 &
                                       2982 of 2001
                ....................................................................
                  Dated this the 8th day of August, 2008.

                                       JUDGMENT

Both these cases are filed by the same person challenging recovery

proceedings for recovery of margin money loan availed by him. One O.P.

was filed in 1999 and the other in 2001. The petitioner was engaged in

manufacture of low density polythene film and bags, the production of

which now stand prohibited in the State. Therefore, the industry remains

closed. Since there is no scope for rehabilitation, the petitioner’s claim for

benefit under rehabilitation scheme also does not apply. Therefore, the

option to the petitioner is only to settle liability due to the creditors

including the Government. It is stated that petitioner owes amount to Banks

and properties are subject to charge. Since there was no stay, it is not

known whether the amounts are recovered already. In any case if there is

any amnesty benefit available for settlement of liability, the same should be

granted to the petitioner. If liability is not settled, recovery can be

continued. The O.Ps. are disposed of as above.

C.N.RAMACHANDRAN NAIR
Judge
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