Gracy Abraham vs The Managing Director

Kerala High Court

Gracy Abraham vs The Managing Director on 22 May, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
               THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
         WEDNESDAY, THE 22ND DAY OF MAY 2024 / 1ST JYAISHTA, 1946
                          WP(C) NO. 18055 OF 2024
PETITIONER:

              GRACY ABRAHAM
              AGED 66 YEARS
              W/O ABRAHAM JOSEPH, PERINGATHU HOUSE, UDAYAMPEROOR P.O,
              THRIPPUNITHURA, ERNAKULAM DISTRICT, PIN - 682307
              BY ADV BABU CHERUKARA


RESPONDENTS:

     1        THE MANAGING DIRECTOR
              KERALA STATE FINANCIAL ENTERPRISES LTD, HEAD OFFICE,
              BHADRATHA, CHEMBUKAVU, MUSEUM ROAD, TRISSUR, PIN - 680001
     2        THE BRANCH MANAGER
              KERALA STATE FINANCIAL ENTERPRISES LTD, ERNAKULAM MAIN
              BRANCH, NEAR Y.M.C.A, CHITTOOR ROAD, ERNAKULAM, COCHIN,
              PIN - 682035


              SRI SALIL NARAYANAN K.A.-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 18055 OF 2024
                                     2

                               JUDGMENT

When this matter was called today, Sri.Salil Narayanan - learned Standing Counsel, submitted that the petitioner is not entitled to any relief because, she is only a name lender; and that the original borrower had, in fact, approached this Court earlier, to withdraw the said Writ Petition, being confronted with the fact that certain fraudulent documents have been produced. He added that, however, merely by way of indulgence and nothing more, his client can allow the petitioner to pay off the entire liability as requested by her, provided she remits an upfront payment of Rs.25,00,000/- within the next two weeks. He submitted that the balance can then be allowed to be paid off in nine instalments as prayed for by her.

2. Sri.Babu Cherukara - learned counsel for WP(C) NO. 18055 OF 2024 3 the petitioner, acceded to the afore suggestion.

In the afore circumstances, this Writ Petition is allowed permitting the petitioner to pay Rs.25,00,000/- into the loan account on or before 15.06.2024; and if this is done, she will be allowed to pay off the balance in the loan account, which is stated to be nearly Rs.1,15,00,000/- (Rupees One Crore Fifteen Lakhs only) as on today, along with all applicable charges and interest,in nine equal monthly instalments commencing from 15.07.2024.

Needless to say, if the amounts as afore are paid by the petitioner, the account will stand closed and the KSFE will return to her all security documents as are necessary; but, if on the contrary, any two instalments are defaulted, the benefit of this judgment will be lost to her and the Bank will be at full liberty to pursue WP(C) NO. 18055 OF 2024 4 further action pursuant to Ext.P1, without having to obtain further orders from this Court.

It is also needless to say, therefore, that as long as the amounts as afore are paid, all further action pursuant to Ext.P1 will stand deferred.

Sd/-

DEVAN RAMACHANDRAN JUDGE SAS WP(C) NO. 18055 OF 2024 5 APPENDIX OF WP(C) 18055/2024 PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE NOTICE BEARING NO.

LN/199/18/37 DATED 26-12-2023 ISSUED BY THE 2ND RESPONDENT.