Qualonix Cyber Park vs South Indian Bank
2021 Latest Caselaw 7814 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                 PRESENT

                 THE HONOURABLE MR. JUSTICE A.M.BADAR

     FRIDAY, THE 05TH DAY OF MARCH 2021 / 14TH PHALGUNA, 1942

                       WP(C).No.4682 OF 2021(I)

PETITIONERS:

       1       QUALONIX CYBER PARK
               GANGA PLAZA, KSEB BUIDLING, SREEKANDAPURAM, KANNUR,
               KERALA PIN 670 631 REPRESENTED BY ITS MANAGING PARTNER

       2       PRAVEEN P TOM,
               AGED 30 YEARS
               S/O. TOMY P PULIKAKL , RESIDING AT PULIKAL HOUSE,
               VAYATTUPARAMBA P.O, BALARAMAPURAM, KANNUR, KERALA PIN 670
               582

       3       LINTO P KURIAKOSE,
               AGED 30 YEARS
               S/O. KURIAKOSE, RESIDING AT PAMPARA HOUSE,
               CHANDANAKAMPARA P.O KANNUR, KERALA PIN 670 652

               BY ADVS.
               SMT.A.V.INDIRA
               SHRI.ANANDA PADMANABHAN
               SHRI.MAHESH CHANDRAN
               SHRI.AKHIL GEORGE
               SHRI.GAJENDRA SINGH RAJPUROHIT

RESPONDENTS:

       1       SOUTH INDIAN BANK
               HAVING ITS HEADQUARTERS AT SIB HOUSE, T B ROAD, MISSION
               QUARTERS, THRISSUR, KERALA PIN 680 001 REPRESENTED BY ITS
               MANAGING DIRECTOR

       2       THE CHIEF MANAGER,
               SOUTH INDIAN BANK , REGIONAL OFFICE, KANNUR, KVR TOWER,
               PAMPAN MADHAVAN ROAD, OPP LIC OFFICE, TALAP, KANNUR,
               KERALA PIN 670 002

       3       RESERVE BANK OF INDIA,
               MAIN BUILDING, P.O BOX 901, SHAHID BHAGAT SINGH ROAD,
               MUMBAI, MAHARASHTRA 400 001 REPRESENTED BY ITS GOVERNOR.

               R1-2 BY ADV. SRI.SUNIL SHANKER
               R1-2 BY ADV. SMT.VIDYA GANGADHARAN

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.4682 OF 2021(I)

                                  2

                              JUDGMENT

Dated this the 5th day of March 2021

Heard both sides.

2. The learned counsel for the petitioners argued that the

petitioners had availed loan of Rs.41,00,000/- for purchase of

machinery apart from other loans and they were regular in repayment

of those loans. However, in the month of June, 2019, the petitioner

could not pay EMIs for a continuous period of three months because of

default of customers of the petitioner in payment of bills. The learned

counsel for the petitioners submits that the petitioners had therefore

made a representation, Ext.P6 for availing the benefit of one time

settlement scheme of the respondent Bank of relieving of the dues. It

is further argued that the respondent Bank had framed its guidelines

for granting benefit of the OTS to the micro and small enterprises

which is at Ext.P2 and by keeping in mind, those guidelines,

representation of the petitioners which is at Ext.P6 deserves to be

decided by the respondents.

3. The learned counsel for the respondent Nos. 1 and 2

submits that the competent officer of the respondents shall decide the

representation at Ext.P6 by keeping in mind, all necessary applicable

guidelines within a period of one week from today. WP(C).No.4682 OF 2021(I)

4. In this view of the matter, the petition is disposed of with

the following direction.

5. The authority of the respondent Nos. 1 and 2 shall decide

the representation at Ext.P6 filed by the petitioners within a period of

one week from the date of communication of this judgment. This Court

hope and trust that the concerned authority shall keep in mind all

guidelines of the respondent financial institute while deciding the

representation at Ext.P6 for grant of benefit of one time settlement

scheme.

The petitioners to supply copy of this judgment to the

respondent for necessary compliance.

SD/-

A.M.BADAR Nsd //TRUE COPY// JUDGE PA TO JUDGE WP(C).No.4682 OF 2021(I)

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 A TRUE PHOTOSTAT COPY OF THE LOAN SANCTION LETTER DATED 22-03-2016

EXHIBIT P2 TRUE PHOTOSTAT COPY OF THE NOTICE DATED 14-

EXHIBIT P3 A TRUE PHOTOSTAT COPY OF THE ACCOUNT STATEMENT OF THE PETITIONER FIRM

EXHIBIT P4 A TRUE COPY OF THE NOTICE DATED 07-12-2020 ISSUED BY THE BANK

EXHIBIT P5 A TRUE COPY OF THE OTS SCHEME ISSUED BY THE 1ST RESPONDENT BANK

EXHIBIT P6 A TRUE COPY OF THE REPRESENTATION DATED 04-

02-2021 MADE BY THE PETITIONER TO