IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.J.B.KOSHY & THE HONOURABLE MR. JUSTICE P.BHAVADASAN MONDAY, THE 9TH FEBRUARY 2009 / 20TH MAGHA 1930 WA.No. 300 of 2009() ------------------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.2347/2009 Dated 22/01/2009 .................... APPELLANT(S): PETITIONERS ------------------------- 1. PARVATHY SRINIVASAN, 1-C PALACE ORCHARDS APARTMENTS, MATTANCHERRY, COCHIN-682 002. 2. SHYLA JOSE, 15/275, MOOLANKUZHI, COCHIN-682 002. BY ADV. MR.GEORGE THOMAS (MEVADA) RESPONDENT(S): RESPONDENTS -------------------------- 1. CANARA BANK, OVER SEAS BRANCH, KARUNA BUILDINGS, M.G.ROAD, KOCHI, REP.BY ITS CHIEF MANAGER. 2. CANARA BANK, ARM BRANCH, RUKIYA BAGH, RAVIPURAM, ERNAKULAM, REP.BY CHIEF MANAGER. 3. M/S. SAI SANTHOSHI FOOD, SANTHOSHI MANSION, KARUVELIPADY, COCHIN-682 005, REP. BY MANAGING PARTNER BINDU M.GANESH. BY ADV. SMT.PAULY MATHEW MURICKAN THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 09/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J.B. Koshy,Ag.C.J. & P. Bhavadasan, J. ---------------------------------------- W.A.No. 300 of 2009 ---------------------------------------- Dated this the 9th day of February, 2009 Judgment Koshy, Ag.C.J. Appellants are the two guarantors for the loan taken by the second respondent from the first respondent bank. Recovery certificate has been issued by the Debt Recovery Tribunal under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 for Rs.1,61,00,000/-. On 14.9.2007 an offer was made as part of settlement requiring the debtor to pay an amount of Rs.40,00,000/- in a faced manner. The above offer was accepted. If that offer was still there, balance amount payable is only Rs.26.40 lakhs as on 31.12.2008. Perhaps, interest will be payable on that amount thereafter also. But, the demand was issued for Rs.1.61 crores. It is submitted that Rs.26.5 lakhs was not paid in time, that is, 31.12.2008 due to unforeseen situation. In the above circumstances, they filed Ext.P6 representation. Appellants are only guarantors to the loan. First respondent Canara Bank, a public sector undertaking, has to take a generous view on the facts and circumstances of this case also. On these facts, if the W.A.No.300/2009 2 appellants pay Rs.30 lakhs on or before 28.2.2009. Ext.P6 representation should be considered by the bank and a decision should be taken. Considering all the facts and circumstances of the case, a practical approach should be made by the bank. Till Ext.P6 representation is disposed of no further action should be taken by the bank. The appeal is disposed of. J.B.Koshy Acting Chief Justice V. Giri Judge vaa