Unipulp Agro Industries vs Kerala Financial Corporation (Kfc) on 30 March, 2023

[Cites 0, Cited by 0]

Kerala High Court

Unipulp Agro Industries vs Kerala Financial Corporation (Kfc) on 30 March, 2023

Bench: Murali Purushothaman

                  IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
               THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
          Thursday, the 30th day of March 2023 / 9th Chaithra, 1945
                         WP(C) NO. 11025 OF 2023(C)
PETITIONER:

     UNIPULP AGRO INDUSTRIES, PLOT NO. 72, KINFRA FOOD PARK SPECIAL
     ECONOMIC ZONE, KAKKANCHERRY, CALICUT UNIVERSITY P.O., MALAPPURAM
     DISTRICT, PIN - 673 635 REPRESENTED BY ITS MANAGING PARTNER N.V.
     KUNHABDULLA.

RESPONDENTS:

  1. THE KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM,
     PIN - 695 033 REPRESENTED BY ITS MANAGING DIRECTOR.
  2. BRANCH MANAGER, KERALA FINANCIAL CORPORATION, BRANCH OFFICE AT
     MANUEL SONS BUILDING, G.H. ROAD, KOZHIKODE - 673 001
  3. UNIPULP FOODS PVT. LTD. REPRESENTED BY ITS DIRECTOR A. RAMAN THAMPI,
     'SWATHI', WARD NO. 4, NO. 98, BHARANIKKAVU P.O., BHARANIKKAVU SOUTH,
     ALLEPPEY - 690 503

     Writ petition (civil) praying inter alia that in the circumstances
stated in the affidavit filed along with the WP(C) the High Court be
pleased to issue an interim direction to the respondents not to take over
the assets of Unipulp Agro Industries or the securities offered towards
loan for the firm, pending disposal of the above Writ Petition.
     This petition coming on for admission upon perusing the petition and
the affidavit filed in support of WP(C) and upon hearing the arguments of
SRI.M.RAMESH CHANDER (SENIOR ADVOCATE) along with M/S. BONNY BENNY, BALU
TOM, GOVIND G.NAIR & BEJOY JOSEPH P.J., Advocates for the petitioner,
SMT.DHANYA P.ASHOKAN, STANDING COUNSEL for R1 & R2 and of SRI.SALIL
NARAYANAN, Advocate for R3, the court passed the following:
             MURALI PURUSHOTHAMAN, J.
           ========================
                  W.P.(C)No.11025 of 2023
          ==========================
           Dated this the 30th day of March, 2023

                         ORDER

Admit.

2. Smt. Dhanya P.Ashokan, learned Standing Counsel takes notice for respondents 1 and 2. Sri.Salil Narayanan, learned counsel takes notice for the 3 rd respondent.

3. The learned Senior Counsel appearing for the petitioner submits that the petitioner is willing to deposit an amount of Rs.25,00,000/- towards the dues to the 1st respondent by 31.03.2023 and a further amount of Rs.25,00,000/- by 10.04.2023 and the entire amounts due to the 1st respondent will be paid on or before 31.07.2023.

4. The learned Standing Counsel for respondents 1 and 2 to get instructions.

W.P.(C)No.11025/2023 2

5. There will be a direction to respondents 1 and 2 not to take over the assets of the petitioner or the securities offered towards the loan availed, for a period of two months, on condition that the petitioner deposits an amount of Rs.25,00,000/- (Rupees twenty five lakhs only) by 31.03.2023.

Post on 10.04.2023.

Sd/-

MURALI PURUSHOTHAMAN JUDGE SB 30-03-2023 /True Copy/ Assistant Registrar

Unlock Advanced Research with PRISMAI

Kerala High Court