Kerala High Court
The South Indian Bank Ltd vs Smt.Remani Viswanathan on 20 March, 2019
Author: Sunil Thomas
Bench: Sunil Thomas
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE SUNIL THOMAS
WEDNESDAY,THE 20TH DAY OF MARCH 2019 / 29TH PHALGUNA, 1940
OP(C).No. 914 of 2019
(EARLY DISPOSAL OF IA.NO.320 OF 2019 IN IP 4/2018 of II ADDITIONAL
SUB COURT,KOTTAYAM )
PETITIONER/S:
THE SOUTH INDIAN BANK LTD.,
KOTTAYAM MAIN BRANCH, CATHOLIC CENTRE, CENTRAL
JUNCTION, KOTTAYAM-686 001,REPRESENTED BY ITS
ASSISTANT GENERAL MANAGER, MR.BOBAN V.J.,
BY ADVS.
SRI.K.N.SIVASANKARAN
SUNIL SHANKAR
RESPONDENT/S:
1 SMT.REMANI VISWANATHAN
KUNNATHUKALATHIL JINO BHAVAN, THEKKUMGOPURAM,
THIRUNAKKARA KARA, KOTTAYAM.P.O., PIN-0686 001
2 SRI.P.K.VINOD KUMAR,
ADVOCATE, OFFICIAL RECEIVER, COLLECTORATE COMPLEX,
KOTTAYAM-686 002
THIS OP (CIVIL) HAVING COME UP FOR ADMISSION ON 20.03.2019, THE
COURT ON THE SAME DAY PASSED THE FOLLOWING:
OP(C).No. 914 of 2019
2
JUDGMENT
The limited relief sought by the petitioner is for expeditious consideration of IA.No.320 of 2019 pending in IP.No.4/2018 of II Additional Sub Court, Kottayam.
2. The contention of the petitioner herein is that the bank has offered a settlement of dues, at a fixed amount, which according to the petitioner, will be beneficial to all the creditors. Since the concession offered is lower than the contractual amount, it is liable to be distributed among the creditors, the respondents appeared and raised a contention that regarding the loans availed by K.V.Viswanathan and Remani Viswanathan by hypothication of jewellary and bullion, gold equivalent to or more of the amount advanced is in the custody of the bank. The bank is silent on it, it is contended. The learned counsel for the petitioner, in answer invited my attention to paragraph 6 of Ext.P1, wherein it is reiterated that if the settlement amount is adjusted to the loan account, all other securities in the charge of the bank and loan documents will be OP(C).No. 914 of 2019 3 released to the third respondent, the official receiver. I feel that it is for the court below to consider the application and the above contention on merits.
3. Having considered this, I am inclined to direct the court below to take up and consider IA.No.320/2019 as expeditiously as possible, after giving a reasonable opportunity to file objections to the contesting respondents and pass appropriate orders. If possible, the court may take up the matter on or before 30.03.2019.
O.P.(C) is disposed of as above.
Sd/-
SUNIL THOMAS, JUDGE R.AV //True Copy// PA to Judge OP(C).No. 914 of 2019 4 APPENDIX PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE COPY OF IA.NO.320/2019 IN IP.NO.4 OF 2018 INSOLVENCY COURT, (2ND ADDITIONAL SUB COURT), KOTTAYAM EXHIBIT P2 EXTRACT OF PROCEEDINGS OBTAINED FROM THE E-COURTS WEBSITE.
RESPONDENT'S/S EXHIBITS NIL