IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 13TH JULY 2009 / 22ND ASHADHA 1931 WP(C).No. 19244 of 2009(A) -------------------------- PETITIONER: --------------- AMBILEY G., PROPRIETOR, THRIPTHY FLAMES, THAMARASSERY COMPLEX, MUTTAMBALAM P.O. KOTTAYAM - 686004 RESIDING AT INDEEVARAN, NEDUMKUNNAM P.O., KOTTAYAM. BY ADV. MR. SURIN GEORGE IPE RESPONDENTS: --------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS CHIEF ENGINEER, SME BRANCH, SASTHRI ROAD, KOTTAYAM - 1. BY ADV. MR. SATHISH NINAN, STANDING COUNSEL, THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 19244 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 13th day of July, 2009 JUDGMENT In connection with the running of gas agency alloted by the Hindustan Petroleum Corporation Limited, the petitioner had availed a loan from the respondent Bank, which however could not be repaid on time as scheduled. Pursuant to the further steps taken, the godown was sealed and the possession was taken by the respondent Bank, which led to other deterrent steps taken by the HPCL as well. Subsequently, the petitioner cleared the entire liability to the HPCL, pursuant to which they issued Ext.P4 letter dated 19.6.2009, directing the petitioner to forward the action plan for commencing the distributorship operations without delay. 2. The learned counsel for the petitioner submits that, the petitioner, in the said circumstances, has approached the respondent Bank, by filing a representation dated 24.6.2009 for permission to operate the LPG godown, offering to effect substantial payment towards the arrears to the Bank and to have the loan regularized. The learned counsel for the petitioner further submits that, the petitioner is very much ready and willing to deposit a sum of Rs.3,00,000/- on or before the 15th of this month. The learned counsel for the respondent Bank submits that, if any such remittance is made by the petitioner on WP (C) No. 19244 of 2009 : 2 : or before 15th of this month, the Bank will intimate the petitioner as to the further amount to be paid for regularizing the loan account within a week. On serving the intimation as above, the petitioner is to clear the entire outstanding amount towards the defaulted EMIs and expenses within a further period of two weeks thereafter. 3. In the above facts and circumstances, the respondent is hereby directed to hand over the key of the premises of the petitioner on her remitting a sum of Rs.3,00,000/- (Rupees Three lakhs only) to the Bank, so as to enable her to make appropriate arrangements to run the LPG distributorship in terms of Ext.P4 and serve the general public at large. It is also made clear that, once the due amount as above is cleared by the petitioner, the loan account will stand regularized and all further proceedings taken by the Bank, invoking the relevant provisions under the SARFAESI Act, will stand deferred, for the time being. It is further made clear that, if the petitioner fails to clear the outstanding liability as above, the Bank will be at liberty to re-possess the premises without any further notice and to proceed with further steps. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON, JUDGE kmd