IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH THURSDAY, THE 29TH JANUARY 2009 / 9TH MAGHA 1930 WP(C).No. 2947 of 2009(A) ------------------------- PETITIONER(S): --------------------- C.M. PLLYMERS, ENKAKAD P.O., WADAKKANCHERY, THRISSUR DISTRICT, REPRESENTED BY ITS MANAGING PARTNER MR. C.M. NAZSSAR. BY ADV. SRI.SHAJI CHIRAYATH SMT.JIJI M. VARKEY RESPONDENT(S): ------------------------ 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM,THIRUVANANTHAPURAM, PIN 695 033, REPRESENTED BY ITS MANAGING DIRECTOR. 2. BRANCH MANAGER, KERALA FINANCIAL CORPORATION, BRANCH OFFICE, SMART CENTRE, KOKKALA, THISSUE DISTRICT PIN 680 021. 3. DEPUTY TAHSILDAR, (REVENUE RECOVERY), KERALA FINANCIAL CORPORATION, SMART CENTRE, KOKKALA, THISSUR DISTRICT PIN 680 021. BY GOVT.PLEADER SRI. BEJOY CHANDRAN. BY SC SRI. S. SREEKUMAR. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - WP.(C) No. 2947 of 2009 - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 29th day of January, 2009 JUDGMENT Heard learned counsel for the petitioner, learned Standing Counsel Sri.S.Sreekumar and the learned Government Pleader. 2. Petitioner took a loan. It was not repaid. Petitioner is given the benefit of one time settlement scheme. The terms were not fulfilled. That was cancelled. Petitioner is faced with sale. Sale stands adjourned to 15.2.2009. 3. Learned Standing Counsel points out that if the petitioner is prepared to pay interest on the belated payment, Kerala Financial Corporation will extend the benefit of revival of one time settlement scheme provided the petitioner pays a sum of Rs.5,00,000/- on or before 15.2.2009. Petitioner is aggreable to the same. The writ petition is disposed of as follows: Recovery steps will be kept in abeyance if the petitioner remits Rs.5,00,000/- prior to 15.2.2009 and remits the balance amount under the one time settlement scheme with interest for delayed payment on or before 31.3.2009. Upon payment of Rs.5,00,000/-, the respondent KFC will intimate the petitioner the amount remaining to be paid in terms of this WPC.2947/2009. 2 judgment within ten days from 15.2.2009. Petitioner will also be liable to pay the collection charges payable in terms of one time settlement scheme. In case the petitioner does not remit Rs.5,00,000/- on or before 15.2.2009 or the balance amount payable on or before 31.3.2009, the petitioner will forfeit the benefit of this judgment and it is open to the respondents to proceed with the recovery in accordance with law. (K.M. JOSEPH, JUDGE) sb