IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR FRIDAY, THE 4TH JANUARY 2008 / 14TH POUSHA 1929 WP(C).No. 12497 of 2005(K) -------------------------- PETITIONER: ------------ RAJAN.P.M. S/O.MANEUL, S.S.R.NIVAS, T.C. 5/2387, KAWDIAR, TRIVANDRUM -3. BY ADV. SRI.GEORGE ZACHARIAH ERUTHICKEL RESPONDENTS: ------------- 1. THE MANAGER, REVENUE RECOVERY, THE KERALA STATE FINANCIAL ENTERPRISES LIMITED, TRIVANDRUM. 2. THE SPECIAL DEPUTY TAHSILDAR (RR), KERALA STATE ENTERPRISES LTD., TRIVANDRUM-1. BY ADV. SRI.ASOK M.CHERIYAN, SC, K.S.F.E. LTD. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 04/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2 APPENDIX PETITIONER'S EXHIBITS: EXT.P1 SERIES TRUE COPIES OF THE MEDICAL CERTIFICATES ISSUED AND THE RECORDS IN CONNECTION WITH THE PETITIONER'S ACCIDENT. EXT.P2 TRUE COPY OF THE CERTIFICATE SHOWING PENDENCY OF OP MV 201/2004 BEFORE THE MOTOR ACCIDENTS CLAIMS TRIBUNAL, NEYYATTINKARA DATED 15.1.2005 ISSUED BY ADV. MR. ROBINSON , VANCHIYOOR, TRIVANDRUM. EXT.P3 TRUE COPY OF THE DEMAND NSOTICE ISSUED BY THE 2ND RESPONDENT. EXT.P4 STRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 2ND RESPONDENT. EXT.P5 TRUE COPY OF THE LETTER DATED 18.12.2004 ISSUED BY THE PRINCIPAL SECRETARY TO GOVT., TO THE DIST COLLECTOR, TRIVANDRUM. EXT.P6 TRUE COPY OF THE REQUEST DATED 15.1.2005 SUBMITTED TO THE HON'BLE CHIEF MINISTER, KERALA. EXT.P7 TRUE COPY OF THE REQUEST SUBMITTED TO THE HONOURABLE REVENUE MINISTER, TRIVANDRUM. EXT.P8 TRUE COPY OF THE ORDER OF THE LOKADALATH DATED 12.3.2005 EXT.P9 TRUE COPY OF THE NOTICE DATED 19.3.2005 RESPONDENTS' EXHIBITS: NIL. TRUE COPY P.S. TO JUDGE. C.N. RAMACHANDRAN NAIR, J. -------------------------------------------- W.P.C. NO. 12497 OF 2005 -------------------------------------------- Dated this the 4th day of January, 2008 JUDGMENT Standing counsel for KSFE submitted that inspite of OTS benefit granted to the petitioner, petitioner failed to remit arrears. Further petitioner also obtained instalment facility by approaching the Chief Minister. However, payments are not so far made. W.P. is pending for the last over 2-1/2 years and petitioner has not so far made any effort to settle liability. Petitioner's case is that the only property he has is the residential building and the adjoining land which was acquired with the loan availed from KSFE. Obviously even if property is sold to repay the arrears, petitioner will still be a gainer because of the escalation in value of land and building. Therefore the only option for the petitioner is to sell the property, settle liability and retain the margin for reinvestment in house or for any other purpose. Having regard to the financial plight of the petitioner, I direct the KSFE to collect only the arrears of loan and simple interest at contract rate that is without compounded rate of interest, and without penal or default interest, 2 provided petitioner clears the entire arrears by 30.3.2008. However, if payment is not made by 30.3.2008 then KSFE is free to take over, dispossess the petitioner and sell the property in recovery proceedings after 30.3.2008. Petitioner is free to negotiate for sale of the house and even he can enter into agreement for sale. However, sale deed will be executed only after arrears are cleared as stated above. W.P. is disposed of as above. (C.N. RAMACHANDRAN NAIR) Judge 3