IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 15466 of 2009(C)
1. JOSEPH K.C., AGED 65 YEARS,
... Petitioner
Vs
1. KERALA FINANCIAL CORPORATION,
... Respondent
2. DEPUTY TAHSILDAR (R.R.),
For Petitioner :SRI.RAJESH VIJAYAN
For Respondent :SRI.M.M.SAYED MUHAMMED, SC, KFC
The Hon'ble MR. Justice P.R.RAMACHANDRA MENON
Dated :05/06/2009
O R D E R
P.R. RAMACHANDRA MENON, J.
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W.P.(C) No. 15466 OF 2009
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Dated this the 5th June, 2009
J U D G M E N T
The petitioner had availed a loan of Rs.57,35,824/-from
the first respondent, for starting a modern rice mill.
Subsequently, coercive steps were taken by the respondents
against the petitioner when he turned to be a defaulter. In the
course of time, the petitioner applied for OTS facility and the
same was sanctioned . Even though the petitioner remitted a
sum of Rs.10 lakhs, since the entire amount covered by OTS was
not remitted even within the extended time, the benefit was
stated as withdrawn, followed by subsequent coercive steps as
borne by Ext.P4 notifying sale of immovables.
2. The learned counsel for the petitioner submits that the
entire amount under OTS will be cleared within 15 days . The
learned counsel appearing on behalf of the respondents submits
that the matter can be re-considered only if the petitioner remits
W.P.(C) No. 15466 OF 2009
2
30% of the due amount forthwith, subject to the approval of the
Corporation.
3. In the above facts and circumstances, the petitioner is
directed to effect payment of Rs. 35.44 lakhs , which is stated as
30% of the arrears due, within ten days from today. On such an
event, the matter shall be re-considered by the first respondent,
permitting the petitioner to clear the entire liability within such
time, to be fixed by the first respondent in this regard.
The Writ Petition is disposed of accordingly.
P.R. RAMACHANDRA MENON,
JUDGE.
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