IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 8204 of 2008(B)
1. MANUEL JACOB,S/O. JACOB
... Petitioner
Vs
1. THE BRANCH MANAGER,
... Respondent
2. KERALA FINANCIAL CORPORATION LTD
3. THE DEPUTY TAHSILDAR (R.R)
For Petitioner :SRI.P.V.BABY
For Respondent :SRI.P.PARAMESWARAN NAIR, SC, KFC
The Hon'ble MR. Justice V.GIRI
Dated :11/03/2008
O R D E R
V.GIRI, J.
-----------
W.P.(C)No.8204 OF 2008
-----------------------------
DATED THIS THE 11TH DAY OF MARCH, 2008
J U D G M E N T
Petitioner availed a loan of Rs.6,60,000/= from the Kerala
Financial Corporation Ltd. Admittedly there has been default in
the repayment. The Corporation proposes to bring the property
belonging to the petitioner to sale as evidenced by Exhibit P3.
Exhibit P1 will show that the petitioner was earlier given an
opportunity to settle the dues under the one time settlement
scheme. Apparently, the petitioner was not able to avail the
opportunity. The one time settlement facility offered by the
Corporation is available till 31.3.2008, according to the counsel
for the petitioner.
2. After hearing both sides, the writ petition is disposed
of directing the first respondent to consider the petitioner’s
application for one time settlement, provided the petitioner
makes a written request in this regard expressing his willingness
to settle the dues under the one time settlement scheme. The
W.P.(C)No.8204 OF 2008
2
request may be made on or before 28.3.2008 and it should be
accompanied by a deposit of Rs.2.5 lakhs. If the application for one
time settlement is accompanied by the deposit as aforementioned,
the second respondent shall consider the petitioner’s case for one
time settlement and a decision in this regard shall be taken within
30.4.2008. The sale proposed under Exhibit P3 shall be deferred
for a period of three months from today and the same shall
thereafter be subject to the decision to be taken under the one time
settlement scheme.
V.GIRI, JUDGE.
dsn