IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 24TH JULY 2008 / 2ND SRAVANA 1930 WP(C).No. 9478 of 2007(C) ------------------------- PETITIONER: ------------ A.ABDUL RASHEED,BADARIYA FOOD PRODUCTS, BADARIYA MANZIL,KULAPPADOM,NEDUMPANA,KOLLAM. BY ADV. SRI.R.KRISHNA RAJ RESPONDENTS: ------------- 1. KERALA FINANCIAL CORPORATION,REP.BY ITS CHIEF MANAGER,KOLLAM. 2. GENERAL MANAGER,DISTRICT INDUSTRIES CENTRE,KOLLAM. BY SHRI.ABUL HASSAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.9478 of 2007 ================== Dated this the 24th day of July, 2008 J U D G M E N T The petitioner took a loan from the Kerala Financial Corporation. He defaulted repayment of the same. Recovery proceedings have been initiated. The petitioner now wants to pay off the amounts by availing of One Time Settlement (OTS) benefit. The learned Standing Counsel appearing for the 1st respondent now submits that the petitioner has paid the initial amount for consideration of the application for OTS. The lower level officers of the 1st respondent have recommended for OTS benefit and the matter is placed before the Zonal Committee for appropriate decision in the matter. In the above circumstances, this writ petition is disposed of with the following directions: The Zonal Committee of the 1st respondent shall take a decision on the OTS application of the petitioner within a period of two months from the date of receipt of a certified copy of this judgment. If the OTS application is admitted, the petitioner shall pay the OTS amount as directed by the Zonal Commtitee. However, if the OTS application is not admitted, the KFC shall give appropriate time for the petitioner to pay off the balance amount due. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2