Jyothiprakasan P.R vs Karur Vysya Bank Ltd
2022 Latest Caselaw 7941 Ker

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                           PRESENT
          THE HONOURABLE MR. JUSTICE GOPINATH P.
  WEDNESDAY, THE 29TH DAY OF JUNE 2022/8TH ASHADHA, 1944
                 WP(C) NO. 12396 OF 2022


PETITIONER:

         JYOTHIPRAKASAN P.R., AGED 48 YEARS,
         S/O. RAMANKUTTY, SOUPARNIKA,
         AISHWARYA GARDEN, KONGAD P.O.,
         PALAKKAD-678 631.

         BY ADV E.V.MOLY

RESPONDENT:

         KARUR VYSYA BANK,
         ERNAKULAM DIVISIONAL OFFICE,
         40/1045C, FIRST FLOOR, AMRITHA TOWER,
         OPP. MAHARAJAS COLLEGE GROUND,
         M.G.ROAD, ERNAKULAM-682 011,
         REPRESENTED BY ITS AUTHORIZED OFFICER

         BY ADV P.S.GEORGE, SC

     THIS WRIT PETITION     (CIVIL) HAVING COME UP     FOR
ADMISSION ON 29.06.2022,    THE COURT ON THE SAME      DAY
DELIVERED THE FOLLOWING:
 WP(C) No.12396/2022
                                  :2 :




                          JUDGMENT

Dated this the 29th day of June, 2022

When this matter is taken up for consideration today, it is

the submission of the learned counsel appearing for the

petitioner that the petitioner intends to approach the bank for

settlement under the One Time Settlement (OTS) Scheme of

the bank. It is submitted that in order to show the bonafides,

the petitioner is willing to remit some amount towards the

liability.

2. The learned Standing Counsel appearing for the

respondent bank submits that as on date, nearly `86.50 lakhs

is due from the petitioner. It is submitted that the petitioner is

recalcitrant defaulter and the account became NPA on

31.03.2021. However, the Standing Counsel states that if the

petitioner makes a suitable proposal before the bank, the

same can be considered as per the norms of the bank. WP(C) No.12396/2022

3. Having regard to the submissions made by the

learned counsel for the petitioner and the learned Standing

Counsel for the respondent bank, the writ petition is disposed

of directing that any OTS proposal that may be submitted by

the petitioner shall be considered by the bank in accordance

with the norms of the bank. If such proposal is submitted

within two weeks from today, further coercive steps against

the petitioner shall be deferred to await a decision by the bank

on the proposal to be submitted by the petitioner, on condition

that the petitioner deposits a sum of `10 lakhs on or before

30.07.2022.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ncd/29.06.22 WP(C) No.12396/2022

APPENDIX OF WP(C) 12396/2022

PETITIONER'S EXHIBITS

Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 16.03.2022 RECEIVED BY THE PETITIONER