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DIVAKARAN, PROPRIETOR versus UNION BANK OF INDIA

High Court of Kerala

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DIVAKARAN, PROPRIETOR v. UNION BANK OF INDIA - WP(C) No. 1502 of 2007(D) [2007] RD-KL 1401 (18 January 2007)

IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 1502 of 2007(D)

1. DIVAKARAN, PROPRIETOR,
... Petitioner

Vs

1. UNION BANK OF INDIA,
... Respondent

2. THE REGIONAL MANAGER,

3. UNION BANK OF INDIA,

For Petitioner :SRI.V.L.SHENOY

For Respondent :SRI.A.S.P.KURUP, SC, UBI

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR

Dated :18/01/2007

O R D E R

C.N.RAMACHANDRAN NAIR, J.


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W.P.(C)NO.1502 OF 2007
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Dated this the 18th day of January 2007



JUDGMENT

Counsel for petitioner submits that there is loss in business and liability can be settled only by sale of property. In view of the undertaking by the petitioner to settle the entire arrears within four months from now, writ petition is disposed of granting time to the petitioner till 31st of May 2007 to clear the entire arrears with interest due to the respondent Bank. I make it clear that even though the bank's counsel demanded atleast part payment by 31st March this year, the same is not ordered only because of undertaking given by petitioner as above and if petitioner fails to honour the undertaking given to the court based on which time is granted, there will be direction to petitioner to hand over possession of property to the Bank on 1st June 2007 itself, failing which Bank can move this court for initiating contempt against petitioner besides proceeding for attachment and sale of property. Writ petition is disposed of as above.

C.N.RAMACHANDRAN NAIR, JUDGE

jes


Copyright

Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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