Mohanraj vs Kerala Financial ...
2021 Latest Caselaw 5956 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                               PRESENT

                 THE HONOURABLE SMT. JUSTICE P.V.ASHA

    THURSDAY, THE 18TH DAY OF FEBRUARY 2021 / 29TH MAGHA,1942

                       WP(C).No.2443 OF 2021(E)


PETITIONERS:

      1        MOHANRAJ
               AGED 68 YEARS
               S/O. K C KANNAN, SHARIKA HOUSE, NARAYANA NAGAR P.O,
               VATAKARA, KOZHIKODE DISTRICT, PIN 673 101

      2        E.K PREMAN,
               AGED 66 YEARS
               S/O. K C KANNAN, KANNANS HOUSE, NARAYANA NAGAR P.O,
               VATAKARA, KOZHIKODE DISTRICT PIN 673 101

      3        E.K SUJATHA,
               AGED 64 YEARS
               D/O. K C KANNAN, JEEVA RUKMANI NAGAR,
               PAKKAMUDAIYANPE, PONDICHERY PIN 605 008

      4        E.K KRISHNADAS,
               AGED 62 YEARS
               S/O. KC KANNAN, MEPPAYIL P.O, VATAKARA, KOZHIKODE 673
               104

      5        E.K MANOJAN,
               AGED 59 YEARS
               S/O. K C KANNAN,ETTUKANDAM THAZHAKUNIYIL HOUSE,
               VATAKARA, KOZHIKODE DISTRICT, PIN 673 101

      6        E.K JANARDHANAN,
               AGED 55 YEARS
               S/O. K.C KANNAN, ETTUKANDAM THAZHAKUNIYIL HOUSE,
               VATAKARA, KOZHIKODE DISTRICT PIN 673 101

      7        E.K SUCHITHRA,
               AGED 52 YEARS
               D/O. K.C KANNAN, PADINJARAYIL HOUSE, P.O THIKKODI,
               KOZHIKODE PIN 673 529

               BY ADV. SHRI.RAZAK M.PAYYOLI

RESPONDENTS:

      1        KERALA FINANCIAL CORPORATION(KFC)
               HEAD OFFICE, VELLAYAMBALAM, THIRUVANANTHAPURAM PIN
 WP(C).No.2443 OF 2021(E)

                               2

             695 003

      2      KERALA FINANCIAL CORPORATION (KFC)
             REPRESENTED BY ITS BRANCH MANAGER, BRANCH OFFICE,
             MALIEKKAL BUILDING, MANJERI ROAD, UPHILL MALAPPURAM
             DISTRICT PIN 676 505

             R1 BY ADV. SRI.M.R.VENUGOPAL
             R1 BY ADV. SMT.DHANYA P.ASHOKAN

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.2443 OF 2021(E)

                                         3




                                   JUDGMENT

Dated this the 18th day of February 2021

The petitioners have availed a loan from the

respondents in the year, 2013. On account of

default in payment, the respondents have issued

Exts.P1 and P2 notices, proposing recovery

proceedings or proceedings under Section 29 of

the State Financial Corporation Act. The learned

counsel for the petitioners submits that the

petitioners are facing severe financial crisis

and they are not in a position to make the

payment immediately. The petitioners seek

instalment facility.

2. The learned Standing counsel on

instructions submits that the outstanding overdue

amount is Rs.40,05,739/-.

3. Therefore, there shall be a direction

to permit the petitioners to pay the overdue WP(C).No.2443 OF 2021(E)

amount in eight equal monthly instalments

starting from April, 2021, provided the

petitioners make payment of a sum of Rs.5 lakhs

before 15.03.2021. In case the petitioners make

payment regularly without any default as

directed, the proceedings for recovery shall be

kept in abeyance. In case any default is

committed in payment of any of the instalments,

respondents would be free to resume the

proceedings for recovery/under Section 29 of the

State Financial Corporation Act.

The writ petition is accordingly disposed of.

Sd/-

P.V.ASHA JUDGE DM WP(C).No.2443 OF 2021(E)

APPENDIX PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 16-01-2021 ISSUED TO THE PETITIONERS.

EXHIBIT P2 TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED TO THE PETITIONERS.

RESPONDENTS EXHIBITS: NIL

//TRUE COPY//

PA TO JUDGE