IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 8TH OCTOBER 2010 / 16TH ASWINA 1932 WP(C).No. 30323 of 2010(M) -------------------------- PETITIONER(S): --------------- 1. K.KRISHNAKUMAR,AGED 42 YEARS, S/O.K.JANARDHANAN NAIR,(LATE),KEZHIKKETTIL HOUSE, KRISHNAKRIPA,ARANI,SHORNUR. 2. T.K.ABOOBACKER,S/O.ABDURAHIMAN, THINIKKADAVIL HOUSE,SHORNUR. 3. T.K.HAMEED,S/O.ABDURAHIMAN, THONIKKADAVIL HOUSE,SHORNUR. BY ADV. SRI.P.DEEPAK RESPONDENT(S): --------------- 1. THE DEPUTY TAHSILDAR(R.R),OTTAPALAM. 2. THE VILLAGE OFFICER,SHORNUR. 3. THE STATE BANK OF TRAVANCORE, REPRESENTED BY BRANCH MANAGER,PATTAMBI BRANCH, PATTAMBI. ADV. SRI.T.SETHUMADHAVAN FOR R3 SRI.PUSHPARAJAN KODOTH FOR R3 SRI.K.JAYESH MOHANKUMAR FOR R3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K. ABDUL REHIM, J ------------------------------- WP(C) NO. 30323 OF 2010 ------------------------------------- Dated this the 8th day of October, 2010 JUDGMENT Steps initiated under the Kerala Revenue Recovery Act, pursuant to Ext.P1 notice, for realizing amounts due under a Bank loan availed by the first petitioner from the 3rd respondent Bank, is under challenge. Petitioners 2 and 3 are the guarantors with respect to the loan transactions. Eventhough various grounds are raised against the proceedings, learned counsel for the petitioner conceded that the petitioners are ready and willing to pay off the entire liability within a reasonable time, in instalments. 2. Heard, learned counsel appearing for 3rd respondent Bank. It is submitted that a total amount of about 2.5 lakhs is outstanding, as on date. It is further submitted that the loan account is in chronic default. 3. Having considered the facts and circumstances I am of the opinion that since the petitioners are 2 WP(C) No. 30323/2010 relinquishing all challenges, some indulgence can be shown for permitting them to pay off the entire liability within a reasonable time, in instalments. 4. The Writ Petition is accordingly disposed of directing the respondents to keep in abeyance all further coercive steps of recovery initiated pursuant to Ext.P1 notice, provided the petitioners remit the entire outstanding along with future interest if any due, in 3 (three) equal monthly instalments falling due on or before 30.10.2010 and on or before the last day of the two succeeding months. 5. It is made clear that on the event of default in payment of any one of the instalments, the respondents will be free to proceed with further steps and on any such event, the petitioners will be precluded from raising any challenge either before this Court or before any other Forum. C.K. ABDUL REHIM JUDGE dnc