IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 28TH SEPTEMBER 2010 / 6TH ASWINA 1932 WP(C).No. 29786 of 2010(W) -------------------------- PETITIONER(S): --------------- M/S.ELAN ESTATES & RESORTS (P) LTD., 206, GOVIND APARTMENTS, KALATHILPARAMBIL ROAD, ERNAKULAM SOUTH, PIN - 682 016, REPRESENTED BY ITS MANAGING DIRECTOR, ABDUL SATHAR ISMAIL SAIT. BY ADV. SRI.K.G.ANIL BABU RESPONDENT(S): --------------- 1. THE KERALA FINANCIAL CORPORATION, BRANCH OFFICE, KATTAPPANA, PIN - 685 515. REPRESENTED BY ITS BRANCH MANAGER. 2. THE ZONAL MANAGER, KERALA FINANCIAL CORPORATION, ERNAKULAM, PIN - 682 017. 3. THE SPECIAL TAHSILDAR (RECOVERY), KERALA FINANCIAL CORPORATION, ERNAKULAM, PIN - 682 017. ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC FOR R1,2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/09/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------- W.P.(C) NO.29786 OF 2010(W) -------------------------------------------------- Dated this the 28th day of September, 2010 J U D G M E N T Petitioner has availed of loans from the first respondent for the establishment of a resort at Kumali in Idukki District. It would appear that default has been committed and accepting the offer made by the petitioner themselves, the first respondent has issued Ext.P2 requiring the petitioner to pay defaulted Principal and interest, in four instalments in the manner as indicated therein. Petitioner has no dispute about the liability. All that the petitioner submits is that going by the present scenario, it will not be possible for them to raise necessary resources to pay the amount specified in Ext.P2. It is in these circumstances the writ petition has been filed praying for a more easier instalment facility to discharge the liability and thus avoid coercive action against the mortgaged properties. 2. I heard the Standing Counsel appearing for the first respondent. He rightly pointed out that what is reflected in Ext.P2 is an offer made by the petitioner and therefore petitioner will have to discharge the liability in the manner mentioned in Ext.P2. WPC.No.29786 /2010 :2 : 3. Although the respondents cannot be faulted for the demand that has been made in Ext.P2, still having regard to the financial constraints expressed by the petitioner, I feel ends of justice require that the petitioner should be given an opportunity to make payments so as to avoid coercive action. Taking into account the fact that the demand made in Ext.P2 as as per the offer made by the petitioner themselves, I direct that as against 30.9.2010, on which date the first instalment is payable, the petitioner will be permitted to pay first instalment on 30.10.2010. It is directed that subsequent instalments as mentioned in Ext.P2 will be paid by the petitioner without default on the 30th of every succeeding month. In case default is committed, respondents will be free to proceed against the petitioner in accordance with law. Writ petition is disposed of as above. (ANTONY DOMINIC) JUDGE vi/ WPC.No.29786 /2010 :3 :