Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE5H DAY OF FEBRUARY201416TH MAGHA, 1935 WP(C).No. 14657 of 2010 (F) ---------------------------- PETITIONER : ---------------------- THOMAS K.T., S/O.THOMAS, THEKKE KADUNGAM PARAMBIL, KULASEKHARA MANGALAM P.O., VAIKOM. BY ADV. SRI.P.I.GEORGEKUTTY RESPONDENT(S) : ---------------------------- 1. THE AUTHORISED OFFICER, THE KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD, HEAD OFFICE, KOTTAYAM.
2. THE KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, KOTTAYAM REPRESENTED BY ITS MANAGING DIRECTOR.
3. THE KOTTOYAM DISTRICT CO-OPERATIVE BANK LTD., BRANCH OFFICE, VAIKOM REPRESENTED BY IT'S BRANCH MANAGER.
4. JOSE VARGHESE,CHAKKALACKAL HOUSE, KULASEKHARAMANGALAM, VAIKOM.
5. JOSEPH K.T., THEKKE KADUNGAM PARAMBIL, KULASEKHARA MANGALAM P.O., VAIKOM. R1 TO R3 BY ADV. SRI.SUNIL CYRIAC, SC THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON0502-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 14657 of 2010 (F) APPENDIX PETITIONER'S EXHIBITS : EXT.P1 : DEMAND NOTICE UNDER SEC. 13(2) OF THE SECURITISATION ACT IN RESPECT OF LOAN NO. OL595-96 DATED152.2010. EXT.P2 DEMAND NOTICE UNDER SEC. 13(2) OF THE SECURITISATION ACT IN RESPECT OF LOAN NO. OL695-96 DATED152.2010. EXT.P3 COPY OF THE DEMAND NOTICE ISSUED BY THE3D RESPONDENT TO THE5H RESPONDENT DTD. 6-12-2011. EXT.P4 COPY OF THE DEMAND NOTICE ISSUED BY THE3D RESPONDENT TO THE5H RESPONDENT DTD. 23-9-2013. RESPONDENT'S EXHIBITS : NIL //TRUE COPY// P.S. TO JUDGE Mn P.R. RAMACHANDRA MENON, J.
.............................................................................. W.P.(C)No.14657 OF2010......................................................................... Dated this the 5th February, 2014 JU D G M E N T The petitioner is challenging the action taken by the respondent Bank invoking the remedy under the SARFAESI Act for realisation of the amount stated as due under a loan transaction. The loan was sanctioned in the name of the respondents 4 and 5 (i.e. Jose Varghese and Joseph K.T.) and the father of the petitioner had stood as surety for the said loan transaction. Since the father of the petitioner is no more, coerciveed proceedings are being pursued against the property of petitioner's father, which made the petitioner to contest the matter on the grounds raised in the writ petition.
2. A counter affidavit has been filed on behalf of the respondents 1 to 3/District Co-operative Bank, Kottayam, seeking to sustain the course and events.
3. Today, when the matter is taken up for consideration, the learned Counsel for the petitioner submits that the Government has already declared a beneficial Scheme by name 'Ashwas-2014' and that the petitioner is entitled to have the W.P.(C)No.14657 OF20102 benefits thereunder. The learned Standing Counsel for the Bank submits that if the petitioner files a proper application in this regard, the claim for the benefit of the above Scheme will be considered and eligible benefits will be extended to the petitioner; and that the liability has to be cleared on or before 15.03.2014, as the Scheme now stands.
4. In the above circumstance, the writ petition is disposed of , with liberty to the petitioner to file an application under the Scheme before the respondent Bank, within two weeks , upon which the same shall be considered and appropriate orders shall be passed forthwith. The petitioner shall be let known as to the actual liability to be cleared under the Scheme and it is for the petitioners to satisfy the due amount so as to have the loan account closed under the Scheme. P.R.RAMACHANDRA MENON JUDGE lk