IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 18TH JUNE 2008 / 28TH JYAISHTA 1930 WP(C).No. 18251 of 2008(W) -------------------------- PETITIONER: ------------ THOMAS JOSEPH, KADAMPUZHA HOUSE, EDAKUNNAM VILLAGE, MUKKALI DESOM, PARATHODE P.O., KOTTAYAM DISTRICT. BY ADV. SRI.PHILIP T.VARGHESE SRI. THOMAS T. VARGHESE RESPONDENTS: ------------- 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE CHIEF MANAGER, KERALA FINANCIAL CORPORATION, KOTTAYAM. BY SRI. JAMES KURIAN, SC FOR KFC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J = = = = = = = = = = = = = = = = W.P.(C).No. 18251 OF 2008 = = = = = = = = = = = = = Dated this the 18th day of June, 2008. J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due from the petitioner to the 1st respondent, Kerala Financial Corporation (KFC). The KFC has taken steps to sell the mortgaged property and the sale is posted to today. The petitioner now submits that he is prepared to pay the entire amounts due by 31.8.2008 and therefore the sale may be stayed. 2. Standing counsel for the KFC opposes the same. According to him, the petitioner was given all facility to pay the amounts and the petitioner has not availed of the same. 3. The counsel for the petitioner would submit that as per Ext.P1 letter, one time settlement benefit was extended to the petitioner by providing only 15 days time, whereas the norms prescribe at least three months' time. 4. I am not inclined to consider these contentions now, since Ext.P1 is dated 14.3.2007 and the petitioner had approached this court only on 17.06.2008. However, if the W.P.(C).No. 18251 OF 2008 2 petitioner is prepared to pay the balance amount due as demanded by the KFC, I think the respondents should consider the same as sufficient discharge to avoid the sale proceedings. Accordingly this writ petition is disposed of with the following directions: The respondents may continue the sale proceedings, but, the sale shall not be confirmed. If the petitioner pays the entire amount due as demanded by the KFC on or before 31.8.2008, the sale shall not be confirmed and the property shall be returned to the petitioner. S.SIRI JAGAN, JUDGE bkn/-