IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH FRIDAY, THE 17TH OCTOBER 2008 / 25TH ASWINA 1930 WP(C).No. 30620 of 2008(T) -------------------------- PETITIONER(S): --------------- K.K.ALIKUTTY, KUNNAPPILLY HOUSE, KAKKANAD.P.O. BY ADV. SRI.BABU CHERUKARA SRI.ANZAR BASHEER RESPONDENT(S): --------------- 1. DEPUTY TAHSILDAR (R.R), KERALA FINANCIAL CORPORATION, ERNAKULAM, COCHIN-17. 2. KERALA FINANCIAL CORPORATION, HEAD OFFICE AT VELLAYAMBALAM, THIRUVANANTHAPURAM, REP.BY IT'S MANAGING DIRECTOR. 3. THE DISTRICT MANAGER, K.F.C, ERNAKULAM DISTRICT OFFICE, AT KALOOR, COCHIN-17. 4. TELWIN AUGUSTINE, ALUMKAL HOUSE, PAI ROAD, PALLURUTHY.P.O, COCHIN-6. BY SRI.M.M.SAIDU MUHAMMED, SC, KFC GOVERNMENT PLEADER SRI.BEJOY CHANDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M. JOSEPH, J. ```````````````````````````````````````````````````` W.P.(C) No. 30620 OF 2008 T ```````````````````````````````````````````````````` Dated this the 17th day of October, 2008 J U D G M E N T Petitioner challenges Ext.P5 and seeks nine months' time to pay off the amount due to the KFC proportionately. Admittedly, the petitioner has defaulted in payment of the amounts due. He was a guarantor for a loan taken by the 4th respondent. He approached this court earlier and this court directed consideration of his OTS application. Thereafter, Ext.P4 dated 28.1.2008 resulted. It was found that the offer was too low and it was rejected. Recovery proceedings were initiated as per Ext.P5. I see no merit in the challenge to Ext.P5. 2. I heard learned counsel for the petitioner, learned Government Pleader and learned standing counsel for KFC. Proceedings pursuant to Ext.P5 will be kept in abeyance for a period of one month on condition that the petitioner deposits a sum of Rs.2 lakhs before the time of sale mentioned in Ext.P5 WPC.30620/08 : 2 : and pays a further sum of Rs.3 lakhs within three weeks from today. In the meantime, it is open to the petitioner to approach the KFC for any relief including OTS. If the petitioner does not pay the amounts as aforesaid, the petitioner will loose the benefit of this judgment and it will be opened to the respondents to proceed with the sale. Writ petition is disposed of as above. Sd/- (K.M.JOSEPH, JUDGE) aks // TRUE COPY // P.A. TO JUDGE