Kerala High Court
Karthika Group vs The Chief Manager And The ... on 23 September, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 23RD DAY OF SEPTEMBER 2021 / 1ST ASWINA, 1943
WP(C) NO. 19442 OF 2021
PETITIONERS:
1 M/S.KARTHIKA GROUP
REPRESENTED BY ITS PROPRIETOR, ARUN RAJ D., S/O.
E.DEVARAJAN, AGED 34 YEARS, PUTHENKADA, PARASSALA,
THIRUVANANTHAURAM-695 502.
2 ARUN RAJ D.
AGED 34 YEARS
S/O. E.DEVARAJAN, PUTHENKADA, PARASSALA,
THIRUVANANTHAPURAM-695 502.
BY ADVS.V.P.PREEJA
GEORGE BRISTON
V.P.PRASANTH
RESPONDENTS:
1 THE CHIEF MANAGER AND THE AUTHORIZED OFFICER
BANK OF BARODA, KESAVADASA PURAM BRANCH, TC3/48,
MORITS BHAVAN, KESAVADASAPURAM,
THIRUVANANTHAUPRAM-695 011.
2 THE BRANCH MANAGER
BANK OF BARODA, KESAVADASAPURAM BRANCH, TC 3/48,
MORITS BHAVAN, KESAVADASAPURAM,
THIRUVANANTHAPURAM-695 011.
SC. R.REMA
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.09.2021, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 19442 OF 2021
2
BECHU KURIAN THOMAS, J
=========================
W.P.(C) No.19442 of 2021
---------------------------------
Dated this the 23 rd day of September, 2021
JUDGMENT
Petitioners are borrowers from the respondent bank.
They committed default in repayment of the loan
amount. Consequently, proceedings have been
initiated by the bank for recovery of the amounts
due from the petitioners after recalling the loan.
2. Though petitioners have raised various challenges in
the writ petition, during the course of the hearing,
petitioners have confined their relief to an
opportunity for repaying the outstanding amount in
installments.
3. It was submitted on behalf of the respondent bank
that petitioners had committed default in repayment
of the loan amount. It was further submitted that
though proceedings for recovery have been initiated,
WP(C) NO. 19442 OF 2021
as a matter of indulgence, respondent bank is still
willing to accept repayment of the outstanding
amount of Rs.1,09,48,380/- in instalments.
4. I have heard Adv.V.P.Preeja, learned counsel for the
petitioners as well as Adv.R.Reena, the learned
Standing Counsel for the respondents.
5. Having regard to the circumstances of the case and
the situation now prevailing, apart from the
submissions made as recorded above, I am of the
view that the petitioners can be granted an
opportunity to repay the outstanding amount in
'eleven' instalments.
6. Accordingly, there will be a direction to the
respondent bank to accept repayment of the entire
outstanding amount along with other Bank charges
from the petitioners.
7. In view of the concession shown by the Bank to
grant an opportunity to the petitioner, the petitioner
WP(C) NO. 19442 OF 2021
is directed to pay the outstanding amount on the
following conditions:
(i).The entire outstanding amount of
Rs.1,09,48,380/- shall be paid in
'eleven' instalments of which
petitioners shall pay an amount of
Rs.15,00,000/- (Rupees Fifteen lakhs
only) on or before 30.09.2021 as
first instalment, and the balance
amount shall be paid in 'ten' equated
monthly instalments along with
other charges and interest.
(ii). In the event of default of any
one instalments, the respondent bank
shall be entitled to proceed in
accordance with law.
(iii) In order to enable the
petitioners to repay the entire
WP(C) NO. 19442 OF 2021
amounts, all coercive steps shall be
kept in abeyance.
The above writ petition is disposed of as above.
sd/-
BECHU KURIAN THOMAS,
JUDGE
AMV/23/09//2021
WP(C) NO. 19442 OF 2021
APPENDIX OF WP(C) 19442/2021
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE REGISTRATION CERTIFICATE
ISSUED BY MINISTRY OF MICRO, SMALL & MEDIUM
ENTERPRISES VIDE NO.KL12A0017595 ISSUED ON
17.6.2016.
xhibit P2 A TRUE COPY OF THE GST REGISTRATION CERTIFICATE
NO.32BSFPR3998J1Z4 ISSUED ON 31.7.2018.
Exhibit P3 A TRUE COPY OF THE CERTIFICATE OF IMPORTER-
EXPORTER ISSUED BY MINISTRY OF COMMERCE &
INDUSTRY DATED 24.10.2018.
Exhibit P4 A TRUE COPY OF THE STATEMENT OF ACCOUNTS IN
A/C.NO.74860400000028 FROM 28.8.2019 TO
4.11.2020.
Exhibit P5 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF
SARFAESI ACT DATED 24.3.2021 ISSUED BY THE IST
RESPONDENT.
Exhibit P6 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF
SARFAESI ACT ON 24.3.2021 ISSUED TO THE GURANTOR
BY THE IST RESPONDENT.
Exhibit P7 A TRUE COPY OF THE CIRCULAR ISSUED BY RBI IN
CONNECTION WITH COVID-19 PANDEMIC SITUATION WITH
REGARD TO MSMES RBI 2019-20 160 DATED 11.2.2020.
Exhibit P7(A) A TRUE COPY OF THE CIRCULAR ISSUED BY RBI IN
CONNECTION WITH COVID-19 PANDEMIC SITUATION WITH
REGARD TO THE MSMES RBI/2020-21/17 DATED
6.8.2020.
Exhibit P7(B) A TRUE COPY OF THE CIRCULAR ISSUED BY RBI IN
CONNECTION WITH COVID-19 PANDEMIC SITUATION WITH
REGARD TO THE MSMES RBI/2021-22/32 DATED
5.5.2021.
RESPONDENTS EXHIBITS NIL
TRUE COPY P.A.TO JUDGE
