Jyothiprakasan P.R vs Karur Vysya Bank Ltd

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                           PRESENT
          THE HONOURABLE MR. JUSTICE GOPINATH P.
  WEDNESDAY, THE 29TH DAY OF JUNE 2022/8TH ASHADHA, 1944
                 WP(C) NO. 12396 OF 2022


PETITIONER:

         JYOTHIPRAKASAN P.R., AGED 48 YEARS,
         S/O. RAMANKUTTY, SOUPARNIKA,
         AISHWARYA GARDEN, KONGAD P.O.,
         PALAKKAD-678 631.

         BY ADV E.V.MOLY

RESPONDENT:

         KARUR VYSYA BANK,
         ERNAKULAM DIVISIONAL OFFICE,
         40/1045C, FIRST FLOOR, AMRITHA TOWER,
         OPP. MAHARAJAS COLLEGE GROUND,
         M.G.ROAD, ERNAKULAM-682 011,
         REPRESENTED BY ITS AUTHORIZED OFFICER

         BY ADV P.S.GEORGE, SC

     THIS WRIT PETITION     (CIVIL) HAVING COME UP     FOR
ADMISSION ON 29.06.2022,    THE COURT ON THE SAME      DAY
DELIVERED THE FOLLOWING:
 WP(C) No.12396/2022
                                  :2 :




                          JUDGMENT

Dated this the 29th day of June, 2022 When this matter is taken up for consideration today, it is the submission of the learned counsel appearing for the petitioner that the petitioner intends to approach the bank for settlement under the One Time Settlement (OTS) Scheme of the bank. It is submitted that in order to show the bonafides, the petitioner is willing to remit some amount towards the liability.

2. The learned Standing Counsel appearing for the respondent bank submits that as on date, nearly `86.50 lakhs is due from the petitioner. It is submitted that the petitioner is recalcitrant defaulter and the account became NPA on 31.03.2021. However, the Standing Counsel states that if the petitioner makes a suitable proposal before the bank, the same can be considered as per the norms of the bank. WP(C) No.12396/2022 :3 :

3. Having regard to the submissions made by the learned counsel for the petitioner and the learned Standing Counsel for the respondent bank, the writ petition is disposed of directing that any OTS proposal that may be submitted by the petitioner shall be considered by the bank in accordance with the norms of the bank. If such proposal is submitted within two weeks from today, further coercive steps against the petitioner shall be deferred to await a decision by the bank on the proposal to be submitted by the petitioner, on condition that the petitioner deposits a sum of `10 lakhs on or before 30.07.2022.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ncd/29.06.22 WP(C) No.12396/2022 :4 : APPENDIX OF WP(C) 12396/2022 PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 16.03.2022 RECEIVED BY THE PETITIONER