K.V. Rajan vs Kerala State Financial … on 1 January, 2007

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

OP No. 32121 of 2002(Y)


1. K.V. RAJAN, S/O. P.V. VARGHESE,
                      ...  Petitioner
2. BINOY VARGHESE, ALSEENA BLOCK

                        Vs



1. KERALA STATE FINANCIAL CORPORATION
                       ...       Respondent

2. THE BRANCH MANAGER, OFFICE OF THE

                For Petitioner  :SRI.P.HARIDAS

                For Respondent  :SRI.V.B.UNNIRAJ, SC, KFC

The Hon'ble MR. Justice P.R.RAMAN

 Dated :01/01/2007

 O R D E R
                                P.R.RAMAN, J.

                        ```````````````````````````

                         O.P NO. 32121 OF 2002

                        ```````````````````````````

              Dated this the 1st day of January, 2007


                               J U D G M E N T

Petitioner has availed a loan from the Kerala State Financial

Corporation for an amount of Rs.25 lakhs. Loan was availed in

August 2001 repayable in seven years. Though the petitioner

would aver that inspite of financial constraints, the petitioner

used to remit the instalments. What is the actual amount so far

repaid by the petitioner is not even mentioned in the writ petition.

Exhibit P1 is a notice requiring the 2nd petitioner to remit an

amount of Rs.6,77,730/-. Exhibit P1 is dated 24.9.02. According to

the petitioner at the time of admission, this court directed the

petitioner to pay the amount of Rs 1.5 lakhs.

Learned counsel appearing for the petitioner submits that

the said amount has been paid. No receipt as such is produced.

No counter affidavit is also filed disputing the same. Whatever it

be, in the factual situation, there is no material placed to quash

Exhibit P1. However, the learned counsel submits that the

petitioner may be given benefit of one time settlement. If the

petitioner makes an application with concrete proposal to repay

OP 32121/2002

: 2 :

the amount along with remittance of Rs. 3 lakhs within a period of

three weeks, the respondent may consider the application and

dispose of the same in accordance with law and inform the

petitioner accordingly. In case the petitioner pays the amount of

Rs. 3 lakhs and submits an application, proceedings if any for

recovery of the amount may be kept in abeyance until such

representation is considered and disposed of. In case the

petitioner commits default, this order will automatically stand

cancelled.

Writ petition is disposed of as above.

P.R.RAMAN, JUDGE

Rp