IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 30242 of 2004(A)
1. THOMAS MICHAEL, KALLUVAYALIL HOUSE,
... Petitioner
2. KURIEN MATHEW, ILLIMOOTTIL HOUSE
Vs
1. THE KERALA FINANCIAL CORPORATION,
... Respondent
2. THE BRANCH MANAGER, KERALA FINANCIAL
3. THE DEPUTY TAHSILDAR (RR), K.F.C.,
For Petitioner :SRI.P.RAMAKRISHNAN
For Respondent : No Appearance
The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
Dated :20/11/2007
O R D E R
C.N.RAMACHANDRAN NAIR, J.
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WP(C) No. 30242 of 2004
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Dated, this the 20th day of November, 2007
J U D G M E N T
The petitioners availed loan from the Kerala Financial
Corporation and committed default. Natural consequence is
recovery proceedings and challenge against the same is not backed
by any valid reasons. However, since scheme is there for
settlement of liability, it is for the petitioners to apply for the benefit
of OTS, as per the scheme, and settle liability, failing which
respondents are free to proceed with recovery. The petitioners are
directed to make an application for OTS along with copy of this
judgment and if such an application is made as above, the
Corporation will consider the same and grant incentives subject to
terms for payment. In case of default, the Corporation is free to
proceed for recovery.
This writ petition is disposed of as above.
(C.N.RAMACHANDRAN NAIR, JUDGE)
jg