IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 18TH MARCH 2011 / 27TH PHALGUNA 1932 WP(C).No. 7303 of 2011(K) ------------------------- PETITIONER(S): -------------------- MR.ANIAN KOSHY,AGED 44 YEARS, S/O LATE G.KUNJU KOSHY,NELLIVILA PUTHEN VEEDU, IYPALLUR,KIZHEKKETHERUVU.P.O,KOTTARAKKARA. BY ADV. SRI.S.SACHITHANANDA PAI RESPONDENT(S): ----------------------- 1. DEPUTY TAHSILDAR,REVENUE RECOVERY, KOTTARAKKARA. 2. UNION BANK OF INDIA,CHALAI BAZAR BRANCH, JALAL BUILDING,THIRUVANANTHAPURAM,REP.BY ITS CHIEF MANAGER. SRI.A.S.P.KURUP, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ================ W.P.(C) NO. 7303 OF 2011 ===================== Dated this the 18th day of March, 2011 J U D G M E N T I heard the learned counsel for the petitioner, learned Government Pleader for the 1st respondent and the learned standing counsel appearing for the 2nd respondent. 2. Petitioner had availed of a cash credit facility to the limit of `15,00,000/- and a term loan of `15,00,000/-. Both were availed of on 29/6/2009. The cash credit was for a period of one year and the term loan was for a period of seven years. Default was committed in both. Therefore recovery proceedings were initiated by Exts.P1 and P2, which are under challenge. 3. Standing counsel appearing for the Bank submits that, in so far as the cash credit facility is concerned, the overdue outstanding is `1,21,379/- and that in the term loan, overdue outstanding is `3,49,316/-. It is stated that it was in view of the default committed by the petitioner that in order to realise the entire amount, revenue recovery proceedings were initiated by the Bank. 4. Having regard to the fact that this is a case of admitted WPC No. 7303/11 :2 : default, the Bank cannot be faulted for the recovery steps that are initiated. At this stage, counsel for the petitioner submitts that the petitioner is willing to clear the overdue outstanding and that on such remittance, the Bank may be directed to regularise the account of the petitioner. 5. From the submissions made by the Bank, it was obvious that the Bank was willing to consider the request provided the outstanding is cleared. 6. Taking note of the submissions thus made by both sides, I dispose of this writ petition with the following directions:- (1) That the overdue amounts outstanding towards the cash credit facility and the term loan as indicated above shall be paid by the petitioner in two equal instalments along with regular instalments. (2) The first instalment will be paid by the petitioner before 30/3/2011 and the second instalment will be paid on or before 30/4/2011. (3) It is directed that, if payment is made as above, the Bank will regularise the cash credit and the term loan availed of by the petitioner. WPC No. 7303/11 :3 : (4) It is also made clear that in the event the petitioner commits default, the Bank will be free to continue the recovery proceedings. ANTONY DOMINIC, JUDGE Rp