Murugan Cc vs Reserve Bank Of India
2023 Latest Caselaw 3699 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
               THE HONOURABLE MR. JUSTICE SHAJI P.CHALY
    WEDNESDAY, THE 29TH DAY OF MARCH 2023 / 8TH CHAITHRA, 1945
                       WP(C) NO. 11064 OF 2023
PETITIONERS:

    1     MURUGAN CC
          AGED 50 YEARS
          S/O CHANDRASEKHARAN NAIR, THEVAKKAL HOUSE, CHULLIYAR
          MEDU, MUTHALAMADA POST, PALAKKAD., PIN - 678507
    2     HARIKUMAR C.L.
          AGED 53 YEARS
          S/O CHANDRASEKHARAN NAIR, THEVAKKAL HOUSE, CHULLIYAR
          MEDU, MUTHALAMADA POST, PALAKKAD., PIN - 678507
    3     PRAMEELA MURUGAN
          AGED 41 YEARS
          W/O MURUGAN, THEVAKKAL HOUSE, CHULLIYAR MEDU,
          MUTHALAMADA POST, PALAKKAD., PIN - 678507
          BY ADVS.
          SAJAN VARGHEESE K.
          LIJU. M.P
          JOPHY POTHEN KANDANKARY


RESPONDENTS:

    1     RESERVE BANK OF INDIA
          MAIN BUILDING, PO BOX 901, SHAHID BHAGAT SINGH ROAD,
          MUMBAI, REP. BY THE GOVERNOR, PIN - 400001
    2     THE SOUTH INDIAN BANK LTD
          PERUMATTY BRANCH, WARD NO.14, TKD BUILDING, NANNIYODU
          PO, PERUMATTY, PALAKKAD., PIN - 678534



          R2 - SRI.SUNIL SHANKER,SC



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
29.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.11064 of 2023
                                         2




                               JUDGMENT

Dated this the 29th day of March, 2023

This writ petition is filed by the petitioners seeking the

following reliefs:

i. Call for the records relating to Exhibits P1;

ii. Issue a writ of mandamus or other appropriate writ of order or direction, directing the respondent No.2 to extend the period mentioned in Ext.P1 to pay the balance amount of Rs.38,10,000/-, for a reasonable period viz three months.

2. The 1st petitioner availed a loan from the South Indian

Bank Limited, Perumatty Branch, Palakkad - the 2 nd respondent.

According to the petitioners, due to unforeseen circumstances the

loan could not be repaid as expected. Anyhow at the instance of

the petitioner the OTS scheme was applied and the petitioner was

directed to pay an amount of Rs.40,10,000/- on or before

31.03.2023. Learned counsel for the petitioners submitted that,

petitioner paid 2,00,000/- out of the said amount. It is also

submitted that two months more time is required to pay the entire

balance under the OTS scheme.

3. Learned Standing Counsel for the respondent bank

submitted that, the OTS granted to the petitioner cannot be

extended and has brought to my notice the judgment of the apex W.P.(C) No.11064 of 2023

Court in State Bank of India Vs. Aravindra Electronics Pvt.Ltd

[MANU/SC/1429/2022] wherein apex Court has laid down the

law that the High Court under Article 226 of the Constitution of

India shall not extend the period of OTS. Any how being convinced

with the situation, the learned counsel for the petitioners submitted

that the petitioner may be permitted to submit a representation

before the bank seeking appropriate reliefs.

In that view of he matter, after hearing learned counsel for

the petitioners, Sri.Laiju M.P. and learned Standing Counsel for the

bank Sri.Sunil Sankar; the writ petition is disposed of leaving open

the liberty of the petitioner to file suitable representation before

the bank within two weeks from the date of receipt of a copy of

this judgment. If any such representation is received by the bank, I

have no reason to think that the bank will not consider the same

in accordance with law and grant sufficient time to the petitioner to

pay off the outstanding amounts either under any OTS scheme

available or otherwise.

Sd/-

SHAJI P. CHALY JUDGE AP W.P.(C) No.11064 of 2023

APPENDIX OF WP(C) 11064/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE LETTER DATED 14.03.2023 ISSUED BY THE RESPONDENT NO.2 .

Exhibit P2 TRUE COPY OF THE SALE AGREEMENT DATED 13.06.22 EXECUTED BETWEEN THE 1ST PETITIONER AND ONE NOUSHAD AND SUBRAHMANIAN .