IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH MONDAY, THE 22ND SEPTEMBER 2008 / 31ST BHADRA 1930 WP(C).No. 28056 of 2008(M) -------------------------- PETITIONERS: ------------------- 1. RONI A.P.P. POONTHOTTAM, S/O ABRAHAM, POONTHOTTAM HOUSE, KADAVANTHARA, K.P. VALLON ROAD, COCHIN -20 2. THRESIAMMA ABRAHAM, S/O ABRAHAM, POONTHOTTAM HOUSE, KADAVANTHARA, K.P. VALLON ROAD, COCHIN -20. BY ADV. SRI.BABY KURIAKOSE SRI.P.VIJAYAKUMAR SRI.ASHIM.M.V. RESPONDENTS: --------------------- 1. KERALA FINANCIAL CORPORATION REPRESENTED BY MANAGING DIRECTOR VELLAYAMBALAM THIRUVANANTHAPURAM -33. 2. CHIEF MANAGER, KERALA FINANCIAL CORPORTION, KALOOR BRANCH, ERNAKULAM. BY ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - WP.(C) No. 28056 of 2008 - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of September, 2008 JUDGMENT Petitioners are defaulters in respect of a loan availed from the Kerala State Financial Corporation. Petitioner has filed Ext.P2, which is a request for one time settlement. 2. I heard learned counsel for the petitioner and the learned Standing Counsel for the respondents. 3. Learned counsel for the respondents submits that without initial payment of 10% of the amount, Ext.P2 cannot be considered. Sale of the petitioners' properties is posted tomorrow . In such circumstances, the writ petition is disposed of as follows: If the petitioner remits a sum of Rs.2,70,000/- prior to 2 p.m., on 23.9.2008, the sale of the properties of the petitioners will stand adjourned by a period of two months. If the payment is made as aforesaid, the first respondent will consider Ext.P2 in accordance with law and take a decision thereon and communicate the same to the petitioner within a period of six weeks from today. If no payment is made, it is made clear that the sale can go on in accordance with law. (K.M. JOSEPH, JUDGE) sb