Smt. Biji Sanjeev vs The Branch Manager
2021 Latest Caselaw 14151 Ker

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
              THE HONOURABLE MR.JUSTICE N.NAGARESH
   WEDNESDAY, THE 7TH DAY OF JULY 2021/16TH ASHADHA, 1943
                     WP(C) NO. 9655 OF 2021


PETITIONER:

         SMT. BIJI SANJEEV, AGED 49,
         W/O. SANJEEV, PROPRIETOR,
         M/S. ECO RUBBER, KONCHERY HOUSE,
         MAYITHARA MARKET P.O., CHERTHALA,
         ALAPPUZHA DISTRICT, PIN-688 539.

         BY ADVS.
         V.MAHENDRANATH
         SRI.P.T.SHEEJISH


RESPONDENT:

         THE BRANCH MANAGER
         KERALA FINANCIAL CORPORATION,
         ALAPPUZHA BRANCH,
         KUMARANESAN SMARAKA MANDIRAM,
         COURT ROAD, ALAPPUZHA-688 001.

         BY ADV SRI.BASANT BALAJI

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 07.07.2021, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
 WP(C) No.9655/2021

                                  2




                           JUDGMENT

Dated this the 7th day of July, 2021

The writ petition has been filed seeking to issue a

direction to the respondent to keep the coercive

proceedings against the petitioner in abeyance and permit

the petitioner to pay the loan amount arrived at through the

One Time Settlement Scheme in monthly equated

instalments without hampering the conduct of business and

the living of the family of the petitioner.

2. When this writ petition came up for admission,

this Court passed an interim order on 07.05.2021 directing

the respondent not to take any coercive action against the

petitioner, provided the petitioner deposits an amount of `1

Crore on or before 07.06.2021. Admittedly, the petitioner

could not deposit the said amount within the stipulated time.

However, the counsel for the petitioner submits that the WP(C) No.9655/2021

petitioner has deposited an amount of `25 lakhs by

28.06.2021 and seeks indulgence to remit the balance

amount.

3. On a pointed question, the learned counsel for

the respondent-KFC submitted that about `595.81 lakhs is

the current outstanding as on 07.06.2021 and if the

petitioner remits 10% of the amount and makes an

application for One Time Settlement, the same can be

considered in accordance with law.

4. In the circumstances, the writ petition is disposed

of on the following lines:

If the petitioner makes an application for One Time

Settlement remitting 10% of the outstanding amount as on

date of the application, the respondent shall consider such

application on merits and in accordance with the rules and

procedure. This 10% would be inclusive of the 25 lakhs

already deposited by the petitioner on 28.06.2021. If the WP(C) No.9655/2021

petitioner makes an application, making the deposit as

stated above within a period of one month, then any

coercive action against the petitioner shall be deferred till

the respondent takes a final decision on the application for

One Time Settlement.

5. If the petitioner is not making an application with

the deposit as directed above, the respondent will be at

liberty to proceed against the petitioner in accordance with

law. When the One Time Settlement is considered, the

respondent shall consider waiving of interest and penal

interest in accordance with the rules and procedures

followed by the Kerala Financial Corporation.

The writ petition is disposed of as above.

Sd/-

N. NAGARESH JUDGE ncd/07.07.2021 WP(C) No.9655/2021

APPENDIX OF WP(C) 9655/2021

PETITIONER'S EXHIBITS

EXHIBIT P1 THE TRUE COPY OF THE OFFER LETTER DATED 12.10.2020 ISSUED BY THE RESPONDENT WITH ENGLISH TRANSLATION.

EXHIBIT P2 THE TRUE COPY OF THE REQUEST LETTER DATED 28.10.2020 MADE BY TEH PETITIONER BEFORE THE RESPONDENT WITH ENGLISH TRANSLATION. EXHIBIT P3 THE TRUE COPY OF THE RECEIPT FOR RS.5 LAKHS.

EXHIBIT P4 THE TRUE COPY OF THE RECEIPT FOR

25.LAKHS.

EXHIBIT P5 THE TRUE COPY OF THE RECEIPT FOR RS.5 CRORES 70 LAKSH.

EXHIBIT P6 THE TRUE COPY OF THE NOTICE DATED 5.12.2018 U/S 29 OF THE SFCS ACT ISSUED BY THE RESPONDENT AND SERVED ON THE PETITIONER.

EXHIBIT P7 TRUE COPY OF THE NOTICE DATED 12/04/2021 ISSUED BY THE RESPONDENT WITH ENGLISH TRANSLATION.

EXHIBIT P8 TRUE COPY OF THE NOTICE DATED 03/05/2021 ISSUED BY THE RESPONDENT.

EXHIBIT P8 TRUE COPY OF THE NOTICE DATED 07/06/2021 ISSUED BY THE RESPONDENT.

EXHIBIT P9 TRUE COPY OF THE COMMUNICATION LETTER ISSUED BY THE RESPONDENT BANK.

RESPONDENTS' EXHIBITS

EXHIBIT R1(a) TRUE COPY OF THE REQUEST LETTER OF THE PETITIONER DATED 28/10/2020 EXHIBIT R1(b) TRUE COPY OFTHE CUSTODIAN AGREEMENT DATED 12/3/2019 EXHIBIT R1(c) THE TRUE COPY OF THE AFFIDAVIT GIVEN BY THE PROMOTER ON THE DETAILS OF THE PERSONAL ASSETS HELD BY HER