M/S. Prince Pretoleums vs The Karur Vyasya Bank Ltd
2023 Latest Caselaw 10340 Ker

                    IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                      THE HONOURABLE MR. JUSTICE T.R.RAVI
        Thursday, the 21st day of September 2023 / 30th Bhadra, 1945
                         WP(C) NO. 21912 OF 2022(L)
PETITIONERS:

  1. M/S. PRINCE PRETOLEUMS, PP 1680, KOTTAMAM, PARASUVAIKAL,
     NEYYATTINKARA, THIRUVANANTHAPURAM - 695508 REPRESENTED BY ITS
     PROPRIETOR SUDHA SURESH.,

     AND 2 OTHERS

RESPONDENT:

     THE KARUR VYASYA BANK LTD., MARTHANDAM BRANCH OFFICE, DOOR NO. 1,
     MAIN ROAD, PAMMA, MARTHANDAM, KANYAKUMARI REPRESENTED BY ITS
     AUTHORIZED OFFICER., PIN - 629165


     This Writ petition coming on for orders upon perusing this Court's
judgment dated 10/03/2023 in WP(C) 21912/2022 and order dated 19-09-2023
in IA 3/2023 and upon hearing the arguments of SRI.SIBI THOMAS JACOB,
Advocate for the petitioners and of SRI.P.S.GEORGE, Advocate for the
respondent, the court passed the following:-
                                      T.R.RAVI, J.
                      ---------------------------------------------
                            W.P(C) No.21912 of 2022
                  ------------------------------------------------------
                  Dated this the 21st day of September, 2023.

                                     ORDER

When the case was taken up, the counsel for the

petitioners submitted that the petitioners may be permitted

to pay Rs.25,00,000/- within two weeks and the entire balance

within three months thereafter. The counsel for the

respondent submitted that a sum of Rs.3.4 crores is due and

the time granted by this Court has ended in June, 2023 and

already three months are over. However, it is submitted that

the Bank is agreeable if the petitioner pays a sum of

Rs.50,00,000/- by the end of this month and the balance

amount in instalments by the end of this year.

In view of the above submission, there will be a direction

to the petitioner to pay a sum of Rs.50,00,000/- (Rupees Fifty

Lakhs only) on or before 30.09.2023 and the entire balance

remaining on or before 30.12.2023 in three equal instalments,

the first instalment falling due on or before 30.10.2023.

Sd/-

T.R.RAVI JUDGE

LEK

21-09-2023 /True Copy/ Assistant Registrar