IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 3318 of 2006(T)
1. K.RAJANI, ARJUN AYURVEDA KENDRAM,
... Petitioner
Vs
1. THE KERALA FINANCIAL CORPORATION,
... Respondent
2. THE MANAGER, KERALA FINANCIAL
3. THE DEPUTY TAHSILDAR,
For Petitioner :SRI.K.S.ROCKEY
For Respondent : No Appearance
The Hon'ble MR. Justice P.R.RAMAN
Dated :18/01/2007
O R D E R
P.R.RAMAN, J.
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W.P.(C) NO. 3318 OF 2006
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Dated this the 18th day of January, 2007
J U D G M E N T
The petitioner has availed a loan from the Kerala Financial
Corporation (KFC). Though he had paid some amount towards the
said loan, he could not wipe off the entire liability. Revenue
recovery proceedings are now initiated against the petitioner for
recovery of amount of Rs.16,93,000/- with interest thereon from
1/10/03 as evidenced by Exhibit P7. The attempt to settle the
matter through the Adalath however did not succeed. The
petitioner submits that it is a sick unit entitled to certain statutory
benefits in the matter of interest. At the same time the petitioner
has also not moved the authorities claiming any such benefits if
he is so entitled. He place reliance on GO(P) No.115/05/ID dated
25th August 2005. It is not however produced in this case. .
2. Having heard the parties and taking into consideration
of the totality of the circumstances, the following direction is
issued.
The petitioner shall pay an amount of Rs.3,00,000/- (Rupees
three lakhs only) within a period of one month from today and if
WPC 3318/2006
: 2 :
he files an application claiming such benefits which are available
to him under law along with the said deposit of Rs.3,00,000/-, the
Kerala Financial Corporation shall duly consider and dispose of the
same and inform the petitioner of the result. Revenue recovery
proceedings now initiated against the petitioner pursuant to
Exhibit P7 will stand stayed for a period of two months so as to
enable compliance of the direction as aforesaid. However if the
petitioner fails to remit the amount of Rs.3,00,000/- and submit
the application as aforesaid, the petitioner will lose the benefit of
this order.
Writ petition is disposed of as above.
P.R.RAMAN, JUDGE
Rp