M/S Word Mart Technologies ... vs State Bank Of India
2023 Latest Caselaw 5435 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
             THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
         FRIDAY, THE 28TH DAY OF APRIL 2023 / 8TH VAISAKHA, 1945
                        WP(C) NO. 14058 OF 2023
PETITIONER/S:

     1       M/S WORD MART TECHNOLOGIES
             REPRESENTED BY ITS DIRECTOR
             D NO. 65/4367, VATTOLY LANE,
             SRM ROAD ERNAKULAM VILLAGE,
             KANAYANNUR TALUK, ERNAKULAM - 682018

     2       MICHAEL MATHEW
             AGED 32 YEARS
             DIRECTOR, M/S. WORD MART TECHNOLOGIES,
             S/O. MATHEW T.J, THONDAMPALLILHOUSE,
             AMALOOR, ELANAD VILLAGE. THALAPPILLY TALUK,
             THRISSUR DISTRICT, PIN - 680586

     3       KHALID V.K
             AGED 48 YEARS
             DIRECTOR, M/S. WORD MART TECHNOLOGIES,
             VAKYAPADAM HOUSE, KIZHAKKUMURI, ELANAD VILLAGE,
             THALAPPILLY TALUK ELANAD, PIN - 680586

             BY ADVS.
             ADOLPHIN MAMACHAN
             CHRISTABEL D AVRAVU


RESPONDENT/S:

     1       STATE BANK OF INDIA
             STATE BANK OF INDIA,
             SME CITY CREDIT CENTRE,
             ALINCHUVADU, KERALA.
             REPRESENTED BY ITS AUTHORISED OFFICER

     2       AUTHORISED OFFICER
             SME CITY CREDIT CENTRE ERNAKULAM,
             KERALA., PIN - 682025
 WP(C) NO. 14058 OF 2023
                                    2



     3       LIJO JOSE (AGE UNKNOWN)
             DEPUTY TAHSILDAR
             THALAPPILLY TALUK OFFICE, WADAKKANCHERY,
             THRISSUR DISTRICT, PIN - 680623

             SRI.MAHESH KUMAR ,SC


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   28.04.2023,   THE   COURT   ON     THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 WP(C) NO. 14058 OF 2023
                                 3



                           JUDGMENT

The petitioners availed a loan from the 1 st respondent Bank.

Since the petitioners defaulted the payment of installments, the

bank took steps to recover the amount by initiating recovery

proceedings under the Revenue Recovery Act. Exhibit P1 is the

Revenue Recovery Demand Notice issued under Section 34 of the

Revenue Recovery Act. The petitioner has approached this Court

seeking for a direction to the respondents to permit the petitioner

to pay the outstanding loan amount in installments and to stay

Ext. P1 revenue recovery proceedings.

2. Heard the learned counsel appearing for the petitioner

and the learned counsel appearing for respondents 1 and 2.

3. Having regard to the direction I propose to issue, notice

to the 3rd respondent is dispensed with.

4. The learned counsel appearing for respondents 1 and 2

submits that an amount of Rs. 7,74,860/- is outstanding in the loan

account and the Bank is willing to settle the amount if the

petitioner pays the said amount in ten equated installments. WP(C) NO. 14058 OF 2023

5. There will be a direction to the petitioner to pay the

amount of Rs.7,74,860/- in ten equated monthly installments

commencing from 15.05.2023. In case the petitioner defaults the

payment of any of the installments, the respondents 1 and 2 will

be free to recover the entire amount from the petitioner in

accordance with law.

This writ petition is disposed of.

Sd/-

MURALI PURUSHOTHAMAN JUDGE

avs WP(C) NO. 14058 OF 2023

APPENDIX OF WP(C) 14058/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE REVENUE RECOVERY NOTICE ISSUED BY THE 2ND RESPONDENT DATED 04-01-