IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 7TH MARCH 2008 / 17TH PHALGUNA 1929 W.P(C).No. 37561 of 2007(V) ------------------------------------- PETITIONER: -------------- V.HARIDAS "LAKSHMI", KALOOR ROAD, KOCHI-17 BY ADV. SRI.N.K.MOHANLAL RESPONDENTS: ----------------- 1. THE BRANCH MANAGER, SYNDICATE BANK (HOUSING FINANCE) RAJAJI ROAD, ERNAKULAM. 2. THE CHIEF MANAGER SYNDICATE BANK REGIONAL OFFICE PIONEER TOWERS SHANMUGHAM ROAD ERNAKULAM 682 031 3. AUTHORISED OFFICER SYNDICATE BANK, REGIONAL OFFICE PIONEER TOWERS, ERNAKULAM 682 031. BY ADV. SRI. R.S. KALKURA, SC FOR BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 37561 OF 2007 V = = = = = = = = = = = = = = = = Dated this the 7th March, 2008 J U D G M E N T Proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, against the petitioner and he seeks an instalment facility. In view of the past conduct of the petitioner, the bank is not agreeable for such a course. 2. Petitioner then claims the benefit of One Time Settlement Scheme and the answer of the bank is that presently there is no such scheme. In such circumstances, this Court will not be justified in forcing the bank to provide either instalment facility or benefit of any One Time Settlement Scheme. 3. However, the fact remains that the petitioner has expressed his genuine desire before this Court to settle the liability but seeks reduction in the interest levied. I feel, it is essentially a matter for the bank to consider in order to persuade the bank to consider and the request of the petitioner for giving reduction in the W.P.(C) No.37561 OF 2007 - 2 - interest that has been levied, it is for the petitioner to prove his bonafides. This can be done only by making remittance of the entire amount. Therefore, I direct that if the petitioner makes remittance of the entire amount that is due before 31.3.2008, on a representation made by him the bank will consider as to whether the petitioner can be given any reduction in interest and if favourable decision is taken the excess amount, if any paid by the petitioner, shall be refunded. Writ Petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-