Kerala High Court
Prakashan V P vs Authorised Officer, Representing ... on 17 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
2024:KER:77364
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 17TH DAY OF OCTOBER 2024 / 25TH ASWINA, 1946
WP(C) NO. 25159 OF 2024
PETITIONER:
PRAKASHAN V P,
AGED 63 YEARS
S/O RAGHAVAN, KOUSALYA KIZHAKKE PARAMBU,
KUTHIRAVATTOM PO, KOZHIKODE DISTRICT, PIN -
673016
BY ADVS.
DILEEP VARGHESE
N.RAYNOLD FERNANDEZ
TESMY VARGHEESE
RESPONDENTS:
1 AUTHORISED OFFICER, REPRESENTING CANARA BANK,
REGIONAL OFFICE BUILDING, THALISAMOOHAM ROAD,
CHALAPPURAM, KOZHIKODE DISTRICT, PIN - 673002
2 BANCH MANAGER,
CANARA BANK, MARK TOWER, MEDICAL COLLEGE,
THONDAYAD, KOZHIKODE DISTRICT, PIN - 673017
OTHER PRESENT:
SRI.M. GOPIKRISHNAN NAMBIAR-SC
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 17.10.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C).No.25159 of 2024
2024:KER:77364
2
JUDGMENT
(Dated this the 17th day of October, 2024)
Earlier, the petitioner had approached this Court by
filing OP(DRT).No.59/2024. The said OP(DRT) was dismissed
as infructuous by efflux of time.
2. The present writ petition has been filed seeking
the following reliefs:
"A. Issue a writ of Mandamus or any other
appropriate writ, order or directing the
respondents to grant 12 instalments to
clear the Loan dues and not to initiate any
coercive steps till the repayment of
instalments or
B. Grant such other reliefs as this
honourable court may be pleased to deem
fit and proper in the circumstances of the
case.
C. To dispense with the English translation
vernacular documents."
3. This Court vide order dated 17.07.2024 directed
the petitioner to remit an amount of Rs.5,00,000/- within a
period of three weeks on or before 19.08.2024 and if the
2024:KER:77364
petitioner would remit the said amount, the Bank was
directed not to proceed further under the SARFAESI
proceedings without the leave of this Court. The petitioner
has paid the said amount on 16.08.2024 and approached
the Bank for a One Time Settlement proposal. As per the
One Time Settlement proposal the entire liability was to be
discharged, and the One Time Settlement amount would be
arrived at Rs.16,50,000/- which was to be paid on or before
16.10.2024. The petitioner has paid only Rs.7,00,000/- as
per the One Time Settlement proposal, and he has not
complied with the One Time Settlement proposal, the One
Time Settlement proposal has lapsed.
4. The learned counsel for the petitioner submits
that if the Bank is not extending the One Time Settlement
proposal, the petitioner will be permitted to pay the
remaining outstanding amount in respect of the loan
advanced by the Bank in few instalments, as this Court may
fix.
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5. Considering the aforesaid prayer of the
petitioner, the present writ petition is disposed of on the
following terms:
i) The petitioner shall pay the remaining
outstanding liability in 12 equal monthly instalments.
ii) The 1st instalment is to be paid on or before
07.11.2024 and the remaining 11 instalments on or before
the 7th day of each succeeding month.
iii) In case of failure to make payment of the 1 st
instalment or any subsequent instalments as directed
above, the Bank shall be free to proceed further against the
petitioner to realize its outstanding dues.
Sd/-
D. K. SINGH
JUDGE
Mms
2024:KER:77364
APPENDIX OF WP(C) 25159/2024
PETITIONER'S EXHIBIT
EXHIBIT P1 TRUE COPY OF JUDGEMENT IN OP(DRT)
NO.59/2024 DATED 01.07.2024
