K.P.Shafique vs The Kerala State Financial ...
2021 Latest Caselaw 12439 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                 THE HONOURABLE MR. JUSTICE GOPINATH P.

      FRIDAY, THE 14TH DAY OF MAY 2021 / 24TH VAISAKHA, 1943

                       WP(C).No.11296 OF 2021(J)


PETITIONER:

               K.P.SHAFIQUE
               AGED 51 YEARS
               S/O. K.P ABU RESIDING AT PARAKKATT HOUSE, FEROKE P.O,
               KOZHIKODE DISTRICT 673 631

               BY ADVS.
               SRI.K.SANEESH KUMAR
               SMT.V.B.SANTHINI

RESPONDENTS:

      1        THE KERALA STATE FINANCIAL ENTERPRISES
               REPRESENTED BY ITS MANAGING DIRECTOR, HEAD OFFICE
               BADRATHA, MUSEUM ROAD, THRISSUR DISTRICT PIN CODE 680
               020

      2        BRANCH MANAGER,
               THE KERALA STATE FINANCIAL ENTERPRISES MAVOOR ROAD
               BRANCH, OPPOSITE TO NATIONAL HOSPITAL, KOZHIKODE
               DISTRICT 673 001.

      3        STATE OF KERALA
               REPRESENTED BY ITS CHIEF SECRETARY, GOVERNMENT
               SECRETARIAT, THIRUVANANTHAPURAM DISTRICT 695 001


OTHER PRESENT:

               SRI SALIL NARAYANAN (SC)

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION             ON
14.05.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.11296/2021                     2




                                  JUDGMENT

Dated this the 14th day of May 2021

The petitioner availed a chitty loan from the Kerala State Financial

Enterprises through its Mavoor Road Branch. There is a default in repayment

and accordingly, Ext.P4 has been issued to him stating that unless an amount of

Rs.27,28,642/- is remitted immediately and, at any rate, before 15.5.2021, the

bank guarantee provided by him will be invoked.

2. I have heard the learned counsel for the petitioner and Sri. Salil

Narayanan,the learned Standing Counsel for respondents 1 and 2. The learned

counsel for the petitioner submits that he is in a position to remit a sum of

Rs.2.00 lakhs within a period of three weeks from today and re-pay the balance

amount due, as demanded in Ext.P4, in ten equal monthly instalments.

3. The learned Standing counsel very fairly submits that this proposal

can be accepted subject to the condition that the bank guarantee provided shall

be renewed and shall continue for the period aforesaid.

4. The learned counsel for the petitioner submits that the bank

guarantee is in force till 25.11.2023. This is recorded.

5. In the result, this writ petition is disposed of in the following

manner:-

i) The petitioner shall remit an amount of Rs.2 lakhs within three

weeks from today.

ii) The balance amount due to the 2 nd respondent shall be re-paid in ten

equal monthly instalments starting from 1.7.2021.

iii) Needless to say, any interest accruing on such amount shall also be

remitted by the petitioner.

If the petitioner complies with the aforesaid directions, proceedings for

recovery of the amounts due from him, including the invocation of the bank

guarantee shall not be proceeded with.

Sd/-

GOPINATH P.

JUDGE acd

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE LETTER DATED 13-4-2021 ISSUED BY THE 2ND RESPONDENT

EXHIBIT P2 A TRUE COPY OF THE TRACKING DETAILS AND DELIVERY OF THE EXHIBIT P1 LETTER IS PRODUCED OBTAINED FROM THE ONLINE PORTAL OF THE INDIAN POSTAL SERVICE DATED 5-11-2021.

EXHIBIT P3 A TRUE PHOTOCOPY OF THE LETTER SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 20-04-2021.

EXHIBIT P4 A TRUE PHOTOCOPY OF THE LETTER ISSUED BY THE 1ST RESPONDENT THROUGH THE 2ND RESPONDENT DATED 22-04-2021 TO THE PETITIONER.

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