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K.RAJANI, ARJUN AYURVEDA KENDRAM versus THE KERALA FINANCIAL CORPORATION

High Court of Kerala

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K.RAJANI, ARJUN AYURVEDA KENDRAM v. THE KERALA FINANCIAL CORPORATION - WP(C) No. 3318 of 2006(T) [2007] RD-KL 1419 (18 January 2007)

IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 3318 of 2006(T)

1. K.RAJANI, ARJUN AYURVEDA KENDRAM,
... Petitioner

Vs

1. THE KERALA FINANCIAL CORPORATION,
... Respondent

2. THE MANAGER, KERALA FINANCIAL

3. THE DEPUTY TAHSILDAR,

For Petitioner :SRI.K.S.ROCKEY

For Respondent : No Appearance

The Hon'ble MR. Justice P.R.RAMAN

Dated :18/01/2007

O R D E R

P.R.RAMAN, J.

``````````````````````````` W.P.(C) NO. 3318 OF 2006 ```````````````````````````

Dated this the 18th day of January, 2007



J U D G M E N T

The petitioner has availed a loan from the Kerala Financial Corporation (KFC). Though he had paid some amount towards the said loan, he could not wipe off the entire liability. Revenue recovery proceedings are now initiated against the petitioner for recovery of amount of Rs.16,93,000/- with interest thereon from 1/10/03 as evidenced by Exhibit P7. The attempt to settle the matter through the Adalath however did not succeed. The petitioner submits that it is a sick unit entitled to certain statutory benefits in the matter of interest. At the same time the petitioner has also not moved the authorities claiming any such benefits if he is so entitled. He place reliance on GO(P) No.115/05/ID dated 25th August 2005. It is not however produced in this case. .

2. Having heard the parties and taking into consideration of the totality of the circumstances, the following direction is issued. The petitioner shall pay an amount of Rs.3,00,000/- (Rupees three lakhs only) within a period of one month from today and if WPC 3318/2006 he files an application claiming such benefits which are available to him under law along with the said deposit of Rs.3,00,000/-, the Kerala Financial Corporation shall duly consider and dispose of the same and inform the petitioner of the result. Revenue recovery proceedings now initiated against the petitioner pursuant to Exhibit P7 will stand stayed for a period of two months so as to enable compliance of the direction as aforesaid. However if the petitioner fails to remit the amount of Rs.3,00,000/- and submit the application as aforesaid, the petitioner will lose the benefit of this order. Writ petition is disposed of as above.

P.R.RAMAN, JUDGE

Rp


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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