IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 4TH JANUARY 2010 / 14TH POUSHA 1931 WP(C).No. 26853 of 2009(B) -------------------------- PETITIONER: --------------- DHARMARAJAN.P.S., AGED 45, S/O. SANKU PULLUKKATT, NADAKKAVU, UDAYAMPEROOR POST, MANAKUNNAM VILLAGE, KANAYANNUR TALUK. BY ADV. SRI.K.C.ELDHO ADV. SRI.JIJO THOMAS RESPONDENTS: --------------- 1. CANARA BANK, ERNAKULAM SOUTH BRANCH COCHIN-16, REP. BY ITS CHIEF MANAGER. 2. M/S. EXCELLENT DECORS, D.NO.36/26A 1, IDL COMPLEX, LISSIE HOSPITAL ROAD, COCHIN-18. PRESENT ADDRESS. D.NO. C 33/965 KOLANGAT, PULLEPPADY JUNCTION, COCHIN-18. 3. SRI. BINOY.M.NAIR, S/O. K.K.MANOHARAN NAIR, 28/1111, AMBIKA NIVAS, K.P.VALLON ROAD, KADAVANTHARA, COCHIN-20. 4. SRI. GEEJO.S.ANIYAN, S/O.ANIYAN, ATHIKAYAM, KARUGAPPADY GARDENS, AYAMANAM POST, KOTTAYAM-15. 5. THE RECOVERY OFFICER, DEBT RECOVERY TRIBUNAL, 8TH FLOOR, KSHB BUILDING, PANAMPILLY NAGAR, ERNAKULAM. R1 BY ADV. SMT.SHAHNA KARTHIKEYAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C) NO. 26853 OF 2009 ......................................................................... Dated this the 4th January, 2010 J U D G M E N T The petitioner is aggrieved of the steps taken by the Bank for realisation of the amount due in respect of a loan transaction, which was the subject matter of O.A.No.55 of 2001 before the DRT, Ernakulam. 2. The above proceedings before the DRT, Ernakulam happened to be finalised because of the fact that the petitioner as well as his Counsel could not appear on the posting date, allegedly for the reason that the date was mistakenly noted down. Met with the situation, the petitioner filed a Review Petition seeking to review Ext. P2 verdict passed by the Tribunal It is also stated that due to some or other reason, it also happened to be dismissed and a petition filed to restore the Review Petition is pending. 3. When the above matter had come up for admission W.P.(C) NO. 26853 OF 2009 2 before this Court on 24.11.2009, this Court took note of the steps taken by the parties to have the matter settled by way of 'One Time Settlement'. The learned Sr. Counsel appearing for the respondent Bank had submitted that the proposal submitted by the petitioner to have the matter settled confining the liability to Rs.25,20,000/- was accepted by the Bank on condition that 1/4th of the said amount was to be paid within one month and the balance amount within three months. It was in the said circumstances, that the position as above was recorded and an interim order was passed on 24.11.2009 intercepting the coercive proceedings and directing the petitioner to remit 1/4th of the due amount of Rs. 25,20,000/- within one month. 4. The learned Counsel for the petitioner submits that the petitioner has complied with the direction and the payment has been effected as per the receipt issued from the Bank , which is stated as correct as reported from the part of the respondent Bank. 5. In the above facts and circumstances, taking note of the fact that the interim order dated 24.11.2009 is a self contained W.P.(C) NO. 26853 OF 2009 3 one, whereby the Bank had agreed to have the liability settled for Rs.25,20,000/- and to have it realised in the prescribed manner, the petitioner having effected payment of 1/4th within the specified time, the balance 3/4th of the total amount of Rs.25,20,000/- shall be cleared within three months, as agreed. It is made clear that if the petitioner fails to honour the commitment as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the due amount, from the stage where it stands now. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk The amount “Rs. 25,20,000/-” occurring in the 7th and 13th lines of paragraph 3 and 4th and 7th lines of paragraph 5 of the judgment dated 04/02/2010 in W.PO.(C) 26853/2003 is corrected as “Rs.25,30,000” as per order dated 11/02/2010 in I.A. 1755/2010. Sd/- Registrar (Judicial ) W.P.(C) NO. 26853 OF 2009 4