Sreejith Menon vs The Kerala Financial Corporation
2021 Latest Caselaw 11827 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE SMT. JUSTICE P.V.ASHA

     FRIDAY, THE 09TH DAY OF APRIL 2021 / 19TH CHAITHRA, 1943

                       WP(C).No.8812 OF 2021(B)


PETITIONER:

               SREEJITH MENON,
               AGED 34 YEARS,
               S/O.NARAYANA MENON, PROPRIETOR, AADI ENTERPRISES,
               XI527, CHAITHRAM BUILDING, MALAYALAPPUZHA THAZHAM,
               MALAYALAPPUZHA, PATHANAMTHITTA DISTRICT-689 664,

               BY ADVS.
               SRI.M.T.SURESHKUMAR
               SRI.R.RENJITH

RESPONDENTS:

      1        THE KERALA FINANCIAL CORPORATION,
               REPRESENTED BY ITS MANAGING DIRECTOR, VELLAYAMBALAM,
               THIRUVANANTHAPURAM, PIN-695 033.

      2        THE BRANCH MANAGER,
               KERALA FINANCIAL CORPORATION, PAZHAMANNIL,
               JESSY TOWERS, COLLEGE ROAD,
               PATHANAMTHITTA, PIN-689 645.

               BY ADV. SRI.BASANT BALAJI, SC

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION             ON
09.04.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.8812 of 2021(B)
                                  2



                             JUDGMENT

The petitioner, who is doing business

of production of fruit juices and soft drinks,

has availed loan from the KFC. As the

repayment of loan is in default, KFC has

issued notice for recovery.

2. According to the learned counsel for

the petitioner, the outstanding arrears can be

paid off, if instalment facility is granted

and if the account is regularised.

3. Sri.Basant Balaji, learned Standing

Counsel submits that the overdue amount is

Rs.1,01,15,617/- as on 17.02.2021. It is also

pointed out that the loan can be regularised

provided the petitioner remits the overdue

amount in six monthly instalments.

Accordingly, the writ petition is

disposed of permitting the petitioner to remit

the overdue amount in six equal monthly WP(C).No.8812 of 2021(B)

instalments along with the regular

instalments. If that be so, coercive action

shall not be taken against the petitioner. In

case there is any default, respondents would

be free to proceed in accordance with law.

Sd/-

P.V.ASHA JUDGE ww WP(C).No.8812 of 2021(B)

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE NOTICE NO. KFC/BO/PTA/ REC./2005/2021 DATED 17/2/2021 ISSUED FROM KERALA STATE FINANCIAL CORPORATION.

EXHIBIT P2 A TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT VIA EMAIL DATED 28.03.2021.