IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR FRIDAY, THE 14TH MARCH 2008 / 24TH PHALGUNA 1929 Con.Case(C).No. 286 of 2008(S) ------------------------------ AGAINST THE JUDGEMENT/ORDER IN WPC.25787/2007 Dated 18/09/2007 .................... : PETITIONERS/PETITIONERS: ----------------------------------------- 1. C.M. ABDUL KHADER, S/O. MEERANKUTTY RAWTHER, AGED 56 YEARS, PROPRIETOR, M/S. C.M.A. RICE MILL, CHERANADU, ERIMAYUR, PALAKKAD DISTRICT. 2. C.M. ABDUL RAHIMAN, S/O. MEERANKKUTTY RAWTHER, AGED 58 YEARS, CHERANADU, ERIMAYUR, PALAKKAD DISTRICT. 3. C.M. MUSTAFA, S/O. MEERANKKUTTY RAWTHER, AGED 48 YEARS, CHERANADU, ERIMAYUR, PALAKKAD DISTRICT. 4. C.M. UMMER, S/O. MEERANKKUTTY RAWTHER, AGED 38 YEARS, CHERANADU, ERIMAYUR, PALAKKAD DISTRICT. BY ADV. SRI.K.MOHANAKANNAN SMT.A.R.PRAVITHA RESPONDENTS: RESPONDENT: ------------------------ SHRI HARIDAS, BRANCH MANAGER (AGE AND FATHER'S NAME NOT KNOWN TO THE PETITIONER), STATE BANK OF INDIA, AGRICULTURAL DEVELOPMENT BRANCH, SHOBHA COMPLEX, PALAKKAD-678 001. BY SHRI.K.K.CHANDRAN PILLAI THIS CONTEMPT OF COURT CASE (CIVIL) HAVING COME UP FOR ADMISSION ON 14/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR, J. ---------------------- Contempt of Court Case No. 286 of 2008 ------------------------------------ Dated, this the 14th day of March, 2008 J U D G M E N T Heard learned counsel for the petitioners and learned standing counsel for State Bank of India appearing for the respondent. 2. Pursuant to the direction of this Court to the Bank to consider the grant of incentives to petitioners, the learned counsel has communicated the decision of the Bank to permit settlement by petitioners on payment of Rs.23 lakhs and if immediate payment is not made, the Bank has also agreed to grant three months' time for payment of the amount under settlement on condition of payment of interest @ 11.5%. Learned counsel for the petitioners has submitted that they want to avail the time and will also pay the interest. Accordingly, the Contempt of Court Case is closed with the following directions:- (1) The petitioners will pay Rs.23 lakhs on or before 15/06/2008 along with interest on this amount @ 11.50% from 15/03/2008 till the date of payment. (2) If petitioners fail to make payment as above, then the Bank COC No.286/2008 -2- will be free to proceed with recovery of the entire decree amount as per final orders issued by the DRT. (3) If payment is made as above, the same shall be treated as settlement of liability under the DRT award and the Bank will release the title deeds without any delay. (C.N.RAMACHANDRAN NAIR, JUDGE.) jg