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M.E.Ali vs Kerala Financial Corporation on 2 July, 2007

Kerala High Court
M.E.Ali vs Kerala Financial Corporation on 2 July, 2007
       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 11567 of 2007(B)


1. M.E.ALI,AGED 60,S/O.IYYAMU,
                      ...  Petitioner

                        Vs



1. KERALA FINANCIAL CORPORATION,
                       ...       Respondent

2. DEPUTY TAHSILDAR (RR),

3. BRANCH MANAGER,KFC,PERUMBAVOOR.

4. STATE OF KERALA REPRESENTED BY SECRETARY

                For Petitioner  :SRI.R.ANILKUMAR

                For Respondent  :SRI.P.PARAMESWARAN NAIR, SC, KFC

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR

 Dated :02/07/2007

 O R D E R
                        C.N.RAMACHANDRAN NAIR, J.

                        -----------------------------------

                           WP(C) No. 11567 of 2007

                         ---------------------------------

                    Dated, this the 2nd day of July, 2007


                                  J U D G M E N T

Heard learned counsel for the petitioner and learned Standing

Counsel for the KFC. Petitioner’s request is only for grant of OTS

benefit. Learned Standing Counsel for the KFC submitted that even for

considering OTS, petitioner has to make payment of 10% of the

outstanding liability. Moreover, regular OTS scheme is not in force is

his contention. Even if OTS scheme is not there, the Board of the

Company is still free to grant OTS or other incentives, provided

petitioner co-operates in the matter. In the circumstances, petitioner is

directed to pay Rs. 4 lakhs on or before 31/07/2007 and offer time

frame within which he can remit the balance liability exclusive of

incentives, for the 1st respondent to grant OTS benefit. If petitioner

makes application after payment and offers clearance of liability within

a reasonable time, there will be direction to the 1st respondent to grant

OTS benefits or at least waiver of default interest and penal interest.

However, if petitioner does not make payment and apply for OTS as

above, respondents can proceed for recovering entire arrears after

31/07/2007.

This WP(C) is disposed of as above.

(C.N.RAMACHANDRAN NAIR, JUDGE)

jg

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