High Court of KeralaWP(C)/10735/2015disposed of

Bijo M.Jacob v. Union Bank Of India

2015-06-02Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE TUESDAY, THE 2ND DAY OF JUNE 2015/12TH JYAISHTA, 1937 WP(C).No. 10735 of 2015 (N) ---------------------------- PETITIONER :

----------------------- BIJO M.JACOB, AGED 41 YEARS, S/O. LATE M.C. JACOB, PLAMPARAMBIL HOUSE, MOOZHICAL, MMUMUKKU, PAZHAVANGADI.P.O., RANNY, PATHANAMTHITTA.

BY ADV. SRI.P.V.GEORGE(PUTHIYIDAM) RESPONDENT(S):

----------------------------

1. UNION BANK OF INDIA, REPRESENTED BY BRANCH MANAGER, NAGAMPADOM BRANCH, KOTTAYAM-686 001.

2. AUTHORIZED OFFICER, CHIEF MANAGER, UNION BANK OF INDIA, REGIONAL OFFICE, 1ST FLOOR, ZAC BUILDINGS, KODIMATHA, KOTTAYAM-686 001.

R1 & R2 BY SRI.A.V.THOMAS,SENIOR ADVOCATE ADVS. SMT.M.M.JASMIN SRI.NIDHI SAM JOHNS THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

sts

WP(C).No. 10735 of 2015 (N) ------------------------------------------ APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXT.P1.

TRUE COPY OF THE C.M.P. NO. 1/2015 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, PATHANAMTHITTA.

EXT.P2.

TRUE COPY OF THE ONE TIME SETTLEMENT PROPOSAL DATED 23-2-2015 SUBMITTED BY PETITIONER.

EXT.P3.

TRUE COPY OF THE ONE TIME SETTLEMENT PROPOSAL DATED 18-3-2015.

EXT.P4.

TRUE COPY OF THE LETTER DATED 23-3-2015 ISSUED BY E.K. KURIAKOSE EXT.P5.

TRUE COPY OF THE NOTICE DATED 24-3-015 ISSUED BY ADVOCATE COMMISSIONER.

RESPONDENT(S)' EXHIBITS:

NIL ----------------------------------------- /TRUE COPY/ P.A.TO JUDGE sts

A.MUHAMED MUSTAQUE, J.

******************************************************* W.P.(C)No.10735 of 2015 ******************************************************* Dated this the 2nd day of June, 2015

JUDGMENT

The petitioner impugns SARFAESI proceedings. It is submitted by the learned counsel for the petitioner that the petitioner availed One Time Settlement Scheme and the proposal has been accepted by the Bank. It is further submitted that till the proposal is concluded in accordance with the terms of the agreement, the writ petition be kept pending. It is also submitted that the Bank may be directed to withdraw the Original Application filed before the Debt Recovery Tribunal claiming the amount. 2.

If the petitioner satisfies the One Time Settlement Scheme, necessarily, the Bank will have to withdraw the Original Application filed before the Debt Recovery Tribunal. In that view of the matter, this writ petition is disposed of with the following directions:

The petitioner shall satisfy the claim of the Bank in terms of the One Time Settlement agreement accepted by the Bank.

W.P.(C)No.10735 of 2015 2

2. On satisfaction, the Bank shall withdraw the Original Application filed before the Debt Recovery Tribunal.

3. Till the period of One Time Settlement Scheme is over, no action shall be taken against the petitioner in terms of the SARFAESI proceedings. Sd/- A.MUHAMED MUSTAQUE, JUDGE ln