IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH THURSDAY, THE 22ND JANUARY 2009 / 2ND MAGHA 1930 WP(C).No. 2458 of 2009(P) ------------------------- PETITIONER(S): ---------------------- 1. K.R.VALSARAJ, AGED 40 YEARS, (PROP. V & B PLASTIC INDUSTRIES), S/O.RAGHAVA PANICKAR, KALARIKKAL HOUSE, PENAKAM, P.O.PERUVALLUR, THRISSUR 680 508. 2. RAGHAVA PANICKAR, S/O.KRISHNAN, KALARIKKAL HOUSE, PENAKAM, P.O.PERUVALLUR, THRISSUR 680 508. BY ADV. SRI.SHOBY K.FRANCIS RESPONDENT(S): ---------------------- 1. THE KERALA FINANCIAL CORPORATION (KFC), VELLAYAMBALAM, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR. 2. CHIEF MANAGER, KFC, BRANCH OFFICE, SMART CENTRE, KOKKALAI, THRISSUR-21. 3. DEPUTY TAHSILDAR (RR), KFC, SMART CENTRE KOKKALAI, THRISSUR-21. BY SC SRI. S. SREEKUMAR. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - WP.(C) No. 2458 of 2009 - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 22nd day of January, 2009 JUDGMENT Petitioner availed a loan. It was not repaid. Petitioner is faced with recovery proceedings. 2. Heard learned counsel for the petitioners and the learned Standing Counsel Sri.S.Sreekumar. 3. Learned counsel for the petitioners only wants two months' time to repay the amount. I feel that some time can be granted provided the petitioners pay Rs.1,00,000/- before the time of sale. The writ petition is disposed of as follows: Proceedings pursuant to Ext.P1 will be kept in abeyance on condition petitioners pay Rs.1,00,000/- before the time of sale. Petitioners are given two months' time to pay the balance amount inclusive of collection charges. Petitioners are also directed to pay one half of the amount remaining to be paid after paying Rs.1,00,000/- on or before 15.2.2009 and the remaining one half on or before 15.3.2009. If the petitioners fail to remit Rs.1,00,000/- before the time of sale or one half of WPC.2458/2009. 2 the amount on or before 15.2.2009 or the balance amount remaining to be paid on or before 15.3.2009, it will be open to the respondents to proceed against the petitioners in accordance with law for recovery. (K.M. JOSEPH, JUDGE) sb