Vijayan K V vs Kerala State Co-Operative Bank ...
2023 Latest Caselaw 377 Ker

                    IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                     PRESENT
                    THE HONOURABLE MR. JUSTICE GOPINATH P.
         WEDNESDAY, THE 11TH DAY OF JANUARY 2023 / 21ST POUSHA, 1944
                            WP(C) NO. 10956 OF 2022
PETITIONERS:

     1       VIJAYAN K V
             AGED 60 YEARS
             S/O. VELAYUDHAN, KATTILAPARAMBIL HOUSE, METTIPADAM,
             KODASSERY POST, CHALAKUDY TALUK, THRISSUR DISTRICT.
     2       RAJINI
             AGED 49 YEARS
             W/O. VIJAYAN K.V, KATTILAPARAMBIL HOUSE, METTIPADAM,
             KODASSERY POST, CHALAKUDY TALUK, THRISSUR DISTRICT.
             BY ADV T.N.MANOJ

RESPONDENTS:

     1       KERALA STATE CO-OPERATIVE BANK LTD.,
             EVENING BRANCH, CHALAKUDY SOUTH, THRISSUR DISTRICT,
             REPRESENTED BY ITS BRANCH MANAGER, PIN - 680307.
     2       KERALA STATE CO-OPERATIVE BANK
             THRISSUR TOWN BRANCH / HEAD OFFICE KOVILAKATHUPADAM,
             THRISSUR, REPRESENTED BY ITS AUTHORIZED OFFICER, THRISSUR
             DISTRICT, PIN - 680022.
             ADV. P C SASIDHARAN, STANDING COUNSEL

     THIS    WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
11.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.10956 of 2022
                                     2




                             JUDGMENT

Dated this the 11th day of January, 2023

The petitioners have approached this Court

challenging the proceedings initiated by the

respondent bank to recover amounts due under credit

facilities extended to the petitioners, by invoking the

provisions of the SARFAESI Act, 2002.

2. When this matter is taken up for consideration

today, it is the submission of the learned counsel

appearing for the respondent bank that there is a One

Time Settlement scheme now in force and if the

petitioners were to apply for the benefits under the

said scheme, the matter can be settled in terms of

the One Time Settlement scheme. It is submitted that

the scheme is in force from 01.01.2023 till

14.02.2023 and if the petitioners file an application

for benefits under the scheme, the application will be

considered and the amount payable by the petitioners WPC No.10956 of 2022

in terms of the scheme will be communicated to the

petitioners.

3. Learned counsel appearing for the petitioners

would submit that the petitioners will file an

application for One Time Settlement in terms of the

scheme and will abide by the terms of the One Time

Settlement scheme offered to the petitioners.

The above submissions are recorded. The writ

petition is closed as no further orders are necessary

in the matter.

Sd/-

GOPINATH P.

JUDGE SKP/11-01 WPC No.10956 of 2022

APPENDIX OF WP(C) 10956/2022

PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 17.09.2021 ISSUED FROM THE OFFICE OF THE 1ST RESPONDENT AND SERVED ON THE 1ST PETITIONER.

EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 09.03.2022 SERVED ON THE 1ST PETITIONER, BY THE ADVOCATE COMMISSIONER APPOINTED, RESORTING TO THE PROVISIONS OF SECTION 13(2) OF THE SECURITIZATION AND RE CONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002.

EXHIBIT P3 TRUE COPY OF THE REPORT DATED 17/03/2022 PREAPED BY THE KERALA STATE DISASTER MANAGEMENT AUTHORITY, WICH IS FORWARDED TO BE APPROVED BY THE DISTRICT COLLECTOR.

EXHIBIT P4 TRUE COPY OF THE PROCEEDINGS OF THE TRISSUR DISTRICT DISASTER MANAGEMENT AUTHORITY, APPROVING THE RECOMANDATIONS OF KERALA DISASTER MANAGEMENT AUTHORITY.

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE