BEFORE THE LOK ADALAT ORGANISED BY THE HIGH COURT LEGAL SERVICES COMMITTEE AT ERNAKULAM PRESENT : SHRI.M.R.RAJENDRAN NAIR (SR.ADVOCATE) & SHRI P.CHANDRASEKHARA PILLAY (RETD.DIST.JUDGE THURSDAY, THE 4TH MARCH 2010 / 13TH PHALGUNA 1931 WP(C).No. 36176 of 2008(F) ----------------------- AGAINST THE ORDER DATED IN EP 440/2004 IN OS.122/2001 of ADL.SUB COURT, THALASSERY .................. PETITIONER: ---------- K.A.PRABHAKARAN S/O.KRISHNAN, AGED 60 YEARS LAKSHMI NIVAS, THIRUVANGAD AMSOM, KAVUMBHAGOM DESOM THALASSERY, KANNUR DISTRICT. BY ADV. SRI.C.P.PEETHAMBARAN RESPONDENT(S): ------------- M/S. LORD KRISHNA BANK LTD LATE MERGED TO CENTURION BANK AND NOW H.D.F.C. BANK, TELICHERRY BRANCH REPRESENTED BY ITS BRANCH MANAGER. ADV. SRI.GEORGE VARGHESE (MANACHIRACKEL) FOR R THIS WRIT PETITION (CIVIL) HAVING COME UP FOR DETERMINATION AT THE LOK ADALAT ON 04/03/2010, THE ADALAT ON THE SAME DAY DELIVERED THE FOLLOWING: HON'BLE MR. JUSTICE V. BHASKARAN NAMBIAR (RETD. JUDGE) AND SRI. P. CHANDRASEKHARA PILLAY (RETD. DISTRICT JUDGE) - - - - - - - - - - - - - - - - - - - - - - - - - - W.P.(C). NO.36176 OF 2008 - - - - - - - - - - - - - - - - - - - - - - - - - - DATED THIS THE 18TH DAY OF JANUARY, 2010 O R D E R Counsel for the petitioner and respondent present. Bank's counsel submitted that the Bank is not prepared to receive Rs.1,25,000/- in full settlement of the claim. The petitioner who is present submitted that he is prepared to pay Rs.2,02,000/- in full settlement and that he requires 3 months time to pay the amount. The Bank will consider this suggestion and submit their stand at the next hearing. Post on 3rd week of February, 2010. Sd/- V. BHASKARAN NAMBIAR (RTD. JUDGE) Sd/- SRI. P. CHANDRASEKHARA PILLAY (RETD. DISTRICT JUDGE) //True copy// PA to Judge ss/. SRI.M.R.RAJENDRAN NAIR (SENIOR ADVOCATE, HIGH COURT OF KERALA) AND SRI.P.CHANDRASEKHARA PILLAY (RETD. DISTRICT JUDGE) - - - - - - - - - - - - - - - - - - - - - - W.P.(C). NO.36176 OF 2008 - - - - - - - - - - - - - - - - - - - - - - DATED THIS THE 4TH DAY OF MARCH, 2010 A W A R D Mr.Peethambaran counsel for the petitioner and Mr.V.B.Bhaskaran Chief Manager (Legal, HDFC Bank Ltd., Kochi) are present before us. A statement dated 04.03.2010by the decree holder bank is filed. According to this, this proposal made by the petitioner to close the account under the one time settlement by paying a sum of Rs.2,02,000/-(Rupees Two lakhs two thousand only) was considered and approved by the Bank, provided the payment is made on or before 15.03.2010 in full and final settlement of the dues under the decree in question. Today when the matter is taken up for discussion, parties agreed that the Bank will accept a sum of Rs.2,02,000/- in full and final settlement of the entire claim under the decree provided the payment is made on or before 25.03.2010. If the payment as stated above is not made, it will be upon for the decree hold Bank to continue the execution proceedings for realization of entire amount due as per the decree without any concession. On making payment as above, the execution petition will stand closed. Statement submitted by the decree holder Bank is taken on record. M.R.RAJENDRAN NAIR (SENIOR ADVOCATE) P.CHANDRASEKHARA PILLAY (RETD. DISTRICT JUDGE) ss/.