Kerala High Court
Malabar Extractions ( P ) Ltd vs M/S. C.S.B Bank Formerly Known As ... on 29 October, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
FRIDAY, THE 29TH DAY OF OCTOBER 2021 / 7TH KARTHIKA, 1943
WP(C) NO. 19264 OF 2021
PETITIONERS:
1 M/s.MALABAR EXTRACTIONS (P) LTD.,
12/1264, NEAR GOVT.HOMEOPATHIC MEDICAL COLLEGE,
KERAPARAMBA (P.O.),
KOZHIKODE-673 010,
REPRESENTED BY ITS MANAGING DIRECTOR,
SRI.MUHAMMED JASIR.M.,
AGED 38 YEARS, S/O.SRI,ABDULLA,
12/1264, NEAR GOVT.HOMEOPATHIC MEDICAL COLLEGE,
KARAPARAMBA (PO),
KOZHIKODE-673 010.
2 SRI.MUHAMMED JASIR M.,
AGED 38 YEARS, S/O.SRI.ABDULLA,
SAJ MAHAL, OPP.TRAINING SCHOOL,
P.O.KANNUR,
NOW RESIDING AT SKYLINE HILL DALE APARTMENT,
RAJEEV NAGAR COLONY, THIRUTHIYAD,
KOZHIKODE-673 004.
3 SMT.SAHEERA P.,
AGED 40 YEARS, W/O.SRI.MUHAMMED NISHAD,
NO.3-B, SKYLINE HILLS DALE APARTMENTS,
THIRUTHIYAD, P.O.PUTHIYARA,
KOZHIKODE-673 004.
4 SMT.JARBEEZ BHANU.T.P.,
AGED 41 YEARS, W/O.SRI.MUHAMMED SAJID,
RAHNA VILLA, P.O.VALAPATTANAM,
KANNUR-670 010.
BY ADVS.
SRI.SANTHARAM.P
SMT.REKHA ARAVIND
SRI.PAUL P. ABRAHAM
W.P.(C) No.19264/21
-:2:-
SRI.P.G.GOKULNATH
RESPONDENT:
M/S. C.S.B BANK
FORMERLY KNOWN AS CATHOLIC SYRIAN BANK LTD.,
BAZAR BRANCH, KOZHIKODE,
REPRESENTED BY ITS AUTHORISED OFFICER,
ZONAL OFFICE, C.M.MATHEW ARCADE,
CHAKKORATHKULAM, P.O.ERANHIPPALAM,
KOZHIKODE-673 006.
BY ADV. MADHU RADHAKRISHNAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 29.10.2021, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C) No.19264/21
-:3:-
BECHU KURIAN THOMAS, J.
-----------------------------------------
W.P.(C) No.19264 of 2021
----------------------------------------
Dated this the 29th day of October, 2021
JUDGMENT
Dispute between the petitioners and the respondent bank has
boiled down to the limited question of period within which the one
time settlement proposal should be cleared.
2. The respondent bank has very fairly agreed to settle the
entire liability of the first petitioner for Rs.1,42,00,000/- based upon
the proposal submitted by the petitioners to settle for
Rs.1,40,00,000/-. Though the respondent bank initially insisted on
payment being made within a limited number of days, ultimately,
after arguments were concluded, the respondent bank agreed to
grant time till 15.12.2021, to the petitioners to clear off the entire
amounts due under the settlement scheme.
3. Accordingly, there will be a direction to the petitioners to pay
Rs.1,00,00,000/- (Rupees One Crore only) on or before 30.11.2021
and the balance Rs.42,00,000/- on or before 15.12.2021 as a
measure of clearing the entire liabilities under the settlement entered
W.P.(C) No.19264/21
into between the parties. If the amounts are paid as directed above,
certificates of discharge shall be issued to the petitioners. Failure of
the petitioners to abide by any of the stipulations for payment as
directed above, shall render the settlement scheme to fail and the
respondent bank shall be entitled to proceed in accordance with law.
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
vps
W.P.(C) No.19264/21
APPENDIX OF WP(C) 19264/2021
PETITIONER'S/S' EXHIBITS
EXHIBIT P1 PHOTOCOPY OF JUDGMENT OF HIGH COURT OF
KERALA IN WP(C) NO.22089 OF 2020 DATED
04.12.2020.
EXHIBIT P2 PHOTOCOPY OF SANCTION LETTER DATED
29.12.2020 ISSUED BY RESPONDENT TO
PETITIONER.
EXHIBIT P3 PHOTOCOPY OF LETTER REJECTING
PETITIONER'S PROPOSAL BY RESPONDENT
DATED 13.08.2021.
EXHIBIT P4 PHOTOCOPY OF ADVOCATE COMMISSIONER
NOTICE DATED 06.09.2021.
RESPONDENT'S/S' EXHIBITS
ANNEXURE A TRUE COPY OF THE SANCTION LETTER ISSUED
BY THE HEAD OF THE RESPONDENT DATED
04.09.2021
