Kerala High Court
Renji Prasad vs Uco Bank on 24 March, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
WEDNESDAY, THE 24TH DAY OF MARCH 2021 / 3RD CHAITHRA, 1943
WP(C).No.7634 OF 2021(D)
PETITIONER:
RENJI PRASAD
AGED 43 YEARS
S/O. P.P. RAJENDRA PRASAD, VACHIPURACKAL KARTHIKA,
AYMANAM P.O., KOTTAYAM-686 015.
BY ADV. SRI.E.A.BIJUMON
RESPONDENT:
UCO BANK
REPRESENTED BY THE AUTHORIZED OFFICER, ZONAL OFFICE,
39/3720 F, S R COMPLEX, REVIPURAM, VALANJAMBALAM,
ERNAKULAM-682 036.
OTHER PRESENT:
SC-SRI.H.RAMANAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).Nos.7634 OF 2021(D) & 7574 of 2021 (V)
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
WEDNESDAY, THE 24TH DAY OF MARCH 2021 / 3RD CHAITHRA, 1943
WP(C).No.7574 OF 2021(V)
PETITIONER:
P.P.RAJENDRA PRASAD
AGED 68 YEARS
S/O. P.K.PATHMANABHAN, VANCHIPURACKAL KARTHIKA,
AYMANAM P.O., KOTTAYAM-686 015
BY ADV. SRI.E.A.BIJUMON
RESPONDENT:
UCO BANK
REPRESENTED BY THE AUTHORIZED OFFICER, ZONAL
OFFICE, 39/3720 F, S.R.COMPLEX, REVIPURAM,
VALANJAMBALAM, ERNAKULAM-682 036
OTHER PRESENT:
SC- SRI.H.RAMANAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).Nos.7634 OF 2021(D) & 7574 of 2021 (V)
3
JUDGMENT
Dated this the 24th day of March 2021
The learned counsel for the petitioners who happens to be a
guarantor and the borrower submits that as per the notice issued by
the Advocate Commissioner appointed by the Chief Judicial Magistrate,
possession of the secured asset is scheduled to be taken on
25/03/2021. The learned counsel for the petitioners on instructions
makes a statement that petitioners will be approaching the respondent
Bank on 25/03/2021 with their fresh offer for one time settlement of
all loan accounts and will request the respondent Bank to take decision
on their proposal within a period of one week. The learned counsel for
the respondent submits that if the petitioners approaches the
respondent Bank with their fresh offer under one time settlement by
25/03/2021, the same will be decided within a period of one week from
tomorrow.
2. The learned counsel for the petitioners, on instructions of
petitioners makes the following statements-
That the petitioners shall abide by the decision taken by the
respondent Bank on their application of one time settlement, they will
not question that decision in any Court or Forum, if the petitioners
fails to comply the decision on their application for one time
settlement, they shall hand over possession of the secured asset
WP(C).Nos.7634 OF 2021(D) & 7574 of 2021 (V)
from tenth day from today to the respondent/secured creditor.
In view of statements made by learned counsel for both parties,
the writ petition is disposed of by accepting those statements. The
respondent is directed to keep the coercive action of recovery of
possession in abeyance till tenth day from today. This Court hope and
expect that the request for one time settlement made by the
petitioners shall be considered by the respondent Bank
sympathetically, according to the prevalent rules. The learned counsel
for the petitioners to supply copies of this judgment to the respondent
Bank for compliance. Parties to act on authenticated copy of this
judgment.
Sd/-
A.M.BADAR
Nsd
//true copy// JUDGE
PA to Judge
WP(C).Nos.7634 OF 2021(D) & 7574 of 2021 (V)
APPENDIX OF 7634 OF 2021
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE 13(2) NOTICE DATED
14.5.2019.
EXHIBIT P2 TRUE COPY OF THE NOTICE UNDER RULE 8(11) OF
THE SECURITY INTEREST (ENFORCEMENT) RULES,
2002, DATED 29.7.2019.
EXHIBIT P3 TRUE COY OF THE ADVOCATE COMMISSIONERS
NOTICE DATED16.3.2021.
EXHIBIT P4 TRUE COPY OF THE ONE TIME SETTLEMENT
PROPOSAL DATED 22.3.2021.
EXHIBIT P5 TRUE COPY OF THE OBSERVATION LETTER DATED
22.3.2021.
APPENDIX OF 7574 of 2021
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE NOTICE UNDER RULE 8 (11)
OF THE SECURITY INTEREST (ENFORCEMENT)
RULES, 2002 DATED 27.09.2019
EXHIBIT P2 TRUE COPY OF THE ADVOCATE COMMISSIONERS
NOTICE DATED 15.03.2021
EXHIBIT P3 TRUE COPY OF THE ONE TIME SETTLEMENT
PROPOSAL DATED 22.03.2021
EXHIBIT P4 TRUE COPY OF THE OBSERVATION LETTER DATED
22.03.2021
