IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 2946 of 2008(A)
1. ABDUL MAJEED HAJI T.P.
... Petitioner
Vs
1. THE KERALA STATE FINANCIAL ENTERPRISES
... Respondent
2. THE BRANCH MANAGER
3. THE SPECIAL DEPUTY TAHSILDAR
4. P.P.PATHUMMA, NELLEKUNNAN HOUSE
For Petitioner :SRI.SASTHAMANGALAM S. AJITHKUMAR
For Respondent :SRI.M.L.SAJEEV,SC KSFE
The Hon'ble MR. Justice V.GIRI
Dated :31/01/2008
O R D E R
V.GIRI, J
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W.P.(C).2946/2008
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Dated this the 31st day of January, 2008
JUDGMENT
In the course of providing guarantee for the fourth
respondent, who had prized two chitties for Rs.6,00,000/-,
petitioner had mortgaged 51 cents of property in
Puduppadi village as a security for re-payment of the loan.
Apparently, there has been considerable default in the re-
payment of the loan. It further seems that the petitioner,
who was independently a subscriber to the chitty for an
amount of Rs.6,00,000/-, had kept the amount in deposit
with the Financial Enterprises. Recovery steps have now
been initiated as against the mortgaged property which is
proposed to be brought to sale on 7.2.2008 as evidenced
by Exts.P1 and P2. In the circumstances, petitioner has
approached this Court.
2. Learned Standing Counsel, on instructions, submits
that an amount of Rs.11,34,000/- (approximate) is due
from the fourth respondent, as on date and therefore,
sale of the mortgaged property seems inevitable. He
W.P.(C).2946/2007
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further submits that if there is a proper application by
the principal debtor along with the surety for
consideration of their case under the One Time
Settlement scheme, the respondent is ready and willing
to consider the same. Submission is recorded.
3. In the result, writ petition is disposed of permitting
the petitioner, along with the fourth respondent, to
approach the first respondent, KSFE, under the One
Time Settlement scheme. If an application on this behalf
is filed in accordance with the guidelines under the One
Time Settlement scheme on or before 28.2.2008, same
shall be considered and appropriate decision taken
thereon and communicated it to the parties on or before
31.3.2008. Applicants under the One Time Settlement
scheme shall be bound by the directions to pay the
amount determined thereunder.
4. Further, sale in pursuance of Exts.P1 and P2 shall
be kept in abeyance for a period of three months
W.P.(C).2946/2007
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provided the petitioner along with the fourth respondent
or otherwise, remits an amount of Rs.2,00,000/- on or
before 28.2.2008.
V.GIRI,
Judge
mrcs