IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 16749 of 2009(K)
1. NIRMALA PRASAD, W/O.LATE PRASAD,
... Petitioner
2. ARUN, S/O.LATE PRASAD,
3. ANOOB, S/O.LATE PRASAD,
4. ASWIN, S/O.LATE PRASAD,
Vs
1. KERALA FINANCIAL CORPORATION,
... Respondent
2. DEPUTY THAHSILDAR R.R.,
For Petitioner :SRI.B.PREMOD
For Respondent :SRI.K.JAJU BABU,SC,KERALA FINANCIAL COR
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :05/08/2009
O R D E R
P.R. RAMACHANDRA MENON J.
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W.P. (C) No. 16749 of 2009
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Dated, this the 5th day of August, 2009
JUDGMENT
The deceased husband of the first petitioner had availed a loan
of Rs. 3,55,500/- from the first respondent in the year 1997, for
purchasing a jeep. Subsequently, the borrower took his last breath on
24.7.99 and when the repayments could not be effected as scheduled,
the respondents proceeded with the coercive steps. This was sought to
be intercepted by filing W.P.(C) 36275 of 2008, claiming for the benefit
of ‘OTS’, which led to Ext.P2 judgment.
2. As obvious from Ext.P2, the petitioners were permitted to avail
the benefit of ‘OTS’, giving appropriate directions to the respondents,
on condition that, the petitioners remitted a sum of Rs.1 lakh within one
month as specified. It is now brought to the notice of this Court as per
the statement filed from the part of the respondents that, in spite of the
specific direction given by this Court, the petitioners did not choose to
remit the sum of Rs. 1 lakh, nor did they file any fresh application for
‘OTS’. It is also stated that, the outstanding liability as on date will come
to about Rs. 17,28,869/- as given in paragraph 11 of the statement filed
by the respondents.
3. However, it is also pointed out by the respondents in
paragraph19 of the statement that, notwithstanding the lapses on the
WP (C) No. 16749 of 2009
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part of the petitioners, merely as a gesture of goodwill and help, the
respondents are ready to revive the ‘OTS’ for Rs. 4.5 lakhs as originally
granted to the petitioners, provided the said amount is remitted within
two months along with defaulted interest, by way of simple interest at
the rate of 12 % p.a. from 21.3.2002, the revenue recovery charges
and other incidental expenses/costs. The learned counsel for the
petitioners submits that, the course suggested by the respondents is
very much acceptable to them.
4. In the above circumstances, the petitioners are directed to
remit a sum of Rs. 4.5 lakhs with such other incidental charges as
specified within two months; subject to which, the coercive steps, now
stated as being pursued against the petitioners shall be kept in
abeyance. If any default is committed by the petitioners, the
respondents are at liberty to proceed with further steps, from the stage
where it stands now, for the realization of the entire amount in a lump
sum.
The Writ Petition is disposed of accordingly.
P. R. RAMACHANDRA MENON, JUDGE
kmd