IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 6TH FEBRUARY 2008 / 17TH MAGHA 1929 WP(C).No. 2738 of 2008(A) ------------------------- PETITIONER: ------------ C.V.ELIAS, AGED 49, S/O. VARGHESE, CHANDANASSERIL HOUSE, PARAKKADAVU, KATTAPPANA, KATTAPPANA VILLAGE, IDUKKI DISTRICT. BY ADV. SRI.VARGHESE C.KURIAKOSE SRI.PRAVEEN K. JOY SRI.E.M.MURUGAN RESPONDENTS: ------------- 1. STATE OF KERALA, REP. BY MINISTRY OF FINANCE, SECRETARIAT, TRIVANDRUM. 2. THE KERALA FINANCIAL CORPORATION, HEAD OFFICE, VELLAYAMBALAM, REP. BY ITS GENERAL MANAGER. 3. THE MANAGING DIRECTOR, THE KERALA FINANCIAL CORPORATION, HEAD OFFICE, VELLAYAMBALAM. 4. THE BRANCH MANAGER, KERALA FINANCIAL CORPORATION, KATTAPPANA BRANCH, KATTAPPANA. R1 BY GOVERNMENT PLEADER SRI I.V.PRAMOD R2 TO 4 BY STANDING COUNSEL SRI V.B.UNNIRAJ THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------ W.P.(C) 2738 of 2008 ------------------------------------- Dated: February 6, 2008 JUDGMENT The prayer sought for in this writ petition is to extend the benefit of one time settlement of the term loan account of the petitioner and to return the documents that are deposited by him. 2. On the other hand, the learned counsel for the KFC would argue that in terms of the rules of the one time settlement scheme, the borrower is required to make a concrete proposal and the borrower has to deposit 10% of th e amount in default. According to the counsel, this has not been done by the petitioner. 3. Though the petitioner submits that he has not been informed of such a requirement, this submission of the petitioner's counsel is contradicted by the counsel for the corporation. It is also reiterated by the corporation that even at this distance of time, if the petitioner makes a concrete proposal along with a deposit of 10% of the amount in default, the corporation will consider the proposal provided that such a proposal should come from the WP(C) 21738/08 Page numbers petitioner within two weeks from today. 4. Having regard to the submissions made by both sides, I dispose of this writ petition directing that within two weeks from today it will be open to the petitioner to submit a concrete proposal for one time settlement to the respondent along with a deposit of 10% of the amount in default, in which case respondents 2 to 4 shall consider the same and take a decision thereon. ANTONY DOMINIC, JUDGE mt/-