Kerala High Court
M/S. P.K. Construction Company vs The Authorized Officer on 13 January, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
THURSDAY, THE 13TH DAY OF JANUARY 2022/23RD POUSHA, 1943
WP(C) NO. 1186 OF 2022
PETITIONER:
M/S. P.K. CONSTRUCTION COMPANY,
XV/111/1, POTTAIKANDATHIL,
NEAR NGO QUARTERS, MUVATTUPUZHA,
ERNAKULAM DISTRICT, PIN - 686 661
REPRESENTED BY ITS MANAGING PARTNER
SRI.KABEER KHAN P.B., AGED 57 YEARS,
S/O.P.S.BAVA RAWTHER, RESIDING AT
POTTAIKANDATHIL HOUSE, NEAR NGO QUARTERS,
MUVATTUPUZHA, ERNKAULAM DISTRICT, PIN - 686 661.
BY ADVS.
NIREESH MATHEW
NIJU MATHEW
VIVEK VENUGOPAL
BABU JOSE
SEBIN SEBASTIAN
GAJENDRA SINGH RAJPUROHIT
DEVAN N.R
RESPONDENTS:
1 THE AUTHORIZED OFFICER,
CSB BANK LIMITED, 1ST FLOOR,
DJM BUILDING, MARKET ROAD,
ERNAKULAM, KOCHI - 682 011.
2 THE BRANCH MANAGER, CSB BANK LIMITED,
MUVATTUPUZHA BRANCH, GROUND FLOOR,
OMBALAYIL TOWERS, SH-1,
OPPOSITE KSRTC BUS STAND,
NEAR 130 JUNCTION, THOTTUMKAL PEEDIKA,
MUVATTUPUZHA, ERNAKULAM DISTRICT, PIN - 686 661.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.01.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C)No.1186/2022
2
JUDGMENT
Dated this the 13th day of January, 2022
The petitioner is a Construction Company. The
petitioner has taken certain advances from the respondents.
The present outstanding balance payable towards the loan
account is `113.22 lakhs, according to the petitioner.
2. The respondents are proposing to declare the
account of the petitioner as NPA. Therefore, the petitioner
prays that the respondents be directed to drop all further
proceedings pursuant to Exts.P1 and P4 and permit the
petitioner to pay the loan dues in 25 equal monthly
instalments.
3. On instructions, the learned Standing Counsel
representing the respondents submits that the outstanding
amount from the petitioner is `1,12,92,469.96 plus accrued
interest and other charges as can be seen from Ext.P5.
WP(C)No.1186/2022
Taking into consideration the past history of the petitioner, a
reasonable time can be granted to the petitioner to wipe off
the liabilities.
4. I have heard the learned counsel for the
petitioner and the learned Standing Counsel representing
the respondents.
5. Taking into consideration the fact that the
petitioner has availed a much higher amount from the Bank
and also taking into consideration the Covid-19 pandemic
situation prevailing, this Court is of the view that the
petitioner can be granted reasonable time to pay off the
debt in instalments.
6. In such circumstances, the writ petition is
disposed of permitting the petitioner to wipe off the liabilities
on the following conditions:
(1) The petitioner shall remit an amount of `12 lakhs
within a period of one month and on or before 15.02.2022.
WP(C)No.1186/2022
(2) The balance outstanding amount along with
accrued interest and other bank charges shall be paid by
the petitioner in 12 equal monthly instalments commencing
from 15.03.2022.
(3) If the petitioner commits any two consecutive
defaults in remitting the instalments as stated above, the
respondents will be at liberty to proceed against the
petitioner in accordance with law.
Sd/-
N. NAGARESH
JUDGE
ncd/15.01.2022
WP(C)No.1186/2022
APPENDIX OF WP(C) 1186/2022
PETITIONER'S EXHIBITS
Exhibit P1 TRUE COPY OF THE LETTER ISSUED BY THE
1ST RESPONDENT DATED 11/10/2021.
Exhibit P2 TRUE COPY OF THE REPRESENTATION
SUBMITTED BY THE PETITIONER BEFORE
THE 1ST RESPONDENT DATED 25/10/2021.
Exhibit P3 TRUE COPY OF THE LETTER ISSUED BY THE
EXECUTIVE ENGINEER, PWD ROADS
DIVISION, MUVATTUPUZHA TO THE 2ND
RESPONDENT DATED 17/11/2021.
Exhibit P4 TRUE COPY OF TTHE LETTER ISSUED BY
THE 1ST RESPONDENT DATED 15/12/2021.
Exhibit P5 TRUE COPY OF THE BANK ACCOUNT
STATEMENT SHOWING THE REMITTANCE OF
RS.10 LAKHS.
