IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 22ND JUNE 2010 / 1ST ASHADHA 1932 WP(C).No. 19384 of 2010(W) ---------------------------------------- PETITIONER(S): ------------------------ AUGUSTINE GEORGE, AGED 47 YEARS, S/O. GEORGE, ANAPARAMBIL SHOPPING COMPLEX, THALAYOLAPOARAMBU.P.O., THALAYOLAPARAMBU, KOTTAYAM DIST. BY ADV. SRI.JOHN JOSEPH(ROY) RESPONDENT(S): ---------------------------- 1. KERALA STATE FINANCIAL CORPORATION, REPRESENTED BY THE MANAGING DIRECTOR, FINANCIAL TOWER, KALOOR, KOCHI-17. 2. THE BRANCH MANAGER, KFC KOTTAYAM, GEETHA TRADE CENTRE, EAST OF YWCA, M.C. ROAD, KOTTAYAM. BY ADV. SRI. A.A.ABUL HASSAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/06/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No.19384 of 2010-W ---------------------------- Dated this the 22nd day of June, 2010. J U D G M E N T The petitioner has approached this Court apprehending the steps stated as being pursued by the respondents to take over the unit run by the petitioner, in spite of the fact that the petitioner has been continuing to satisfy the due amount up to February 2010. 2. The learned standing counsel appearing for the respondent Corporation submits on instructions that, the idea and understanding of the petitioner is quite wrong and misconceived. Eventhough the petitioner was a defaulter, who had to be alerted on many an occasion as to the liability to satisfy the due amount, the respondents have taken a very lenient approach and attitude, enabling the petitioner to run the unit and there is absolutely no merit or boanfides with regard to the averments and allegations as to the alleged course of action. It is also brought to the notice of this Court that because of the serious default, the unit was taken over by the respondent under Section 29 of the SFC Act on 5.2.2010, as borne by Ext.P5. Subsequently, the unit was released W.P(C) No.19384 of 2010-W 2 to the petitioner on 24.2.2010, pursuant to the deposit made by the petitioner as borne by Exts.P3 and P4 receipts. Again, the petitioner committed default, when he was alerted to effect the payment vide Exts.P6 and P7. Finally, Ext.P8 notice was issued informing the petitioner as to the pending arrears and the entire outstanding liability. The learned standing counsel further submits that, if the petitioner is ready and willing to clear the arrears and continues to satisfy the monthly instalments, no further coercive steps will be taken. 3. In the above facts and circumstances, the petitioner is directed to clear the entire 'overdue' amount as informed vide Exts.P6, P7 and P8 within two weeks and shall continue to effect the regular monthly instalments without fail. If any default is committed by the petitioner with regard to the 'overdue' amount or if any two consecutive defaults are committed with regard to the regular EMIs, the respondents will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON ab JUDGE