K.V. Shiraz vs The Jammu & Kashmir Bank Limited
2024 Latest Caselaw 26989 Ker

Kerala High Court

K.V. Shiraz vs The Jammu & Kashmir Bank Limited on 6 September, 2024

Author: Dinesh Kumar Singh

Bench: Dinesh Kumar Singh

                                                 2024:KER:67864

           IN THE HIGH COURT OF KERALA AT ERNAKULAM

                            PRESENT

         THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH

   FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946

                    WP(C) NO. 28173 OF 2024

PETITIONER/S:

          K.V. SHIRAZ,
          AGED 53 YEARS
          S/O. K. HAMZOO, R/O. NOORJAHAN, SHENOY ROAD, KALOOR,
          ERNAKULAM –, PIN - 682017


          BY ADVS.
          DENU JOSEPH
          MUHISEENA.V.Z
          MANJU M.K.
          JOYAL P. JOY




RESPONDENT/S:

    1     THE JAMMU & KASHMIR BANK LIMITED,
          66/4331, JYOTHIS FIRST FLOOR, M.G. ROAD, NEAR METRO
          PILLAR NO. 667, KOCHI, ERNAKULAM –REPRESENTED
          BY ITS MANAGER, PIN - 682035

    2     THE AUTHORIZED OFFICER,
          THE JAMMU & KASHMIR BANK LIMITED, 66/4331, JYOTHIS
          221; FIRST FLOOR, M.G. ROAD, NEAR METRO PILLAR NO.
          667, KOCHI, ERNAKULAM, PIN - 682035


          BY ADV MUMTAZ SHUMSUDDIN


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
                                                                 2024:KER:67864
   WP(C) NO. 28173 OF 2024

                                     2
                               JUDGMENT

The present writ petition has been filed with the following

prayers:-

"a)To issue a writ in the nature of certiorari calling call for the records based on which Exhibit P1 notice has been issued by the 2nd Respondent and to quash Exhibit P1 notice.

b)To issue a writ in the nature of mandamus or any other appropriate writ order or direction directing the Respondent Bank not to proceed further with coercive steps.

c)To issue a writ in the nature of mandamus or any other appropriate writ order or directing the Respondent Bank to consider Exhibit P2 the proposal seeking repayment of the debt after giving maximum concession including avoidance of excessive interests, penal interests, charges etc. in 30 equal installments.

d)Issue a writ in the nature of mandamus or any other writ order or direction directing the Respondent Bank to provide contractual documents including loan agreement in connection with the subject loan, up to date account statement, details of interests, expenses and penal interests charged, the details of the amounts charged other than the interest, expenses etc. and all such other details/documents which has influenced the Respondent Bank in computing the interest and other charges including the respective reserve bank guidelines, notifications etc.

e)Grant such other relief's that may be deemed fit and proper by this Hon'ble Court in the facts and circumstances of the case."

2.As of today, the total outstanding of the Bank is around

Rs.3,11,00,000/-. The learned counsel for the Bank submits that the

accounts have already been recalled and the petitioner may

approach the Bank for One Time Settlement.

3.The learned counsel for the petitioner submits that, the

petitioner shall approach the Bank within a period of two weeks 2024:KER:67864 WP(C) NO. 28173 OF 2024

from today. If the petitioner approaches the Bank for One Time

settlement, the bank shall consider the proposal for the same. For a

period of three weeks from today, further coercive measures should

not be taken against the petitioner.

With the aforesaid direction, the present writ petition

stands closed.

Sd/-

DINESH KUMAR SINGH JUDGE SJ 2024:KER:67864 WP(C) NO. 28173 OF 2024

APPENDIX OF WP(C) 28173/2024

PETITIONER EXHIBITS

Exhibit.P1 THE TRUE COPY OF NOTICE DATED 06.05.2024 UNDER SECTION 13(2) OF THE SARFAESI ACT BY THE 2ND RESPONDENT

Exhibit.P2 THE COPY OF THE REPRESENTATION DATED 05.07.2024 BY THE PETITIONER BEFORE THE RESPONDENTS.