Satheesh P vs Cananra Bank
2023 Latest Caselaw 4914 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR. JUSTICE T.R.RAVI
    THURSDAY, THE 13TH DAY OF APRIL 2023 / 23RD CHAITHRA, 1945
                       WP(C) NO. 13733 OF 2023


PETITIONER:

          SATHEESH P
          AGED 51 YEARS
          S/O PURUSHOTHAMAN PILLAI,
          SOUBHAGYA, UDAYAKAVALA,
          KUREEKKAD P.O, KUREEKKAD VILLAGE,
          KANAYANNUR TALUK, ERNAKULAM, PIN - 682305

          BY ADVS.
          DILEEP CHANDRAN
          K.M.ANEESH
          K.SANTHOSH KUMAR (KALIYANAM)
          SHASHANK DEVAN
          V.Y.EBIN



RESPONDENTS:

    1     CANANRA BANK
          REGIONAL OFFICE, ERNAKULAM II,
          3RD FLOOR, METRO STATION COMPLEX,
          M.G ROAD, ERNAKULAM, KERALA, PIN - 682035
          REPRESENTED BY ITS AUTHORISED OFFIICER

    2     CANARA BANK
          KUREEKKAD BRANCH, ARATHY CENTER,
          KANDANAD ROAD, ERNAKULAM, KERALA,
          PIN - 682305
          REPRESENTED BY ITS BRANCH MANAGER

          SRI. M. GOPIKRISHNAN NAMBIAR, SC.




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 13733 OF 2023
                                    2



                              T.R. RAVI, J.
               --------------------------------------------
                      W. P. (C). No.13733 of 2023
                --------------------------------------------
                  Dated this the 13th day of April, 2023

                               JUDGMENT

The petitioner has approached this Court seeking permission to pay

off the amounts due to the respondent Bank in easy instalments. The

counsel for the respondents on instructions submits that an amount of

₹55,89,115/- is due to them.

In the above circumstances, this writ petition is disposed of

permitting the petitioner to pay off the amounts due along with accrued

interest and cost in 15 equal monthly instalments, the 1 st instalment

falling due on or before 30.04.2023 and the subsequent instalments

falling due on or before 30th of the succeeding months. If the petitioner

makes a single default in payment of instalments, the respondents are at

liberty to proceed with the steps for recovery. Steps for recovery shall

be kept in abeyance to facilitate the payment of instalments. The above

order will not in any way prejudice the petitioner from approaching the

Bank for One Time Settlement proposal. If such a proposal is received,

the Bank shall consider the same.

Sd/-

T.R. RAVI JUDGE Pn WP(C) NO. 13733 OF 2023

APPENDIX OF WP(C) 13733/2023

PETITIONER'S EXHIBITS

Exhibit P1 EXHIBIT P1 TRUE COPY OF THE DEMAND NOTICE DATED 04-10-2021 ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT

Exhibit P2 EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 05-04-2023 ISSUED BY THE LEARNED ADVOCATE COMMISSIONER

Exhibit P3 EXHIBIT P3 TRUE COPY OF THE ONE TIME SETTLEMENT LETTER DATED 15/03/2023 ISSUED BY THE RESPONDENT BANK

Exhibit P4 EXHIBIT P4 TRUE COPY OF THE APPLICATION DATED 10-04-2023 SUBMITTED TO THE RESPONDENT BANK TO EXTEND THE TIME OF THE OTS