IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 9TH MARCH 2011 / 18TH PHALGUNA 1932 WP(C).No. 2267 of 2011(G) ------------------------------------- PETITIONER: ------------------ A.G.RAVINDRANATHAN, PROPRIETOR, M/S. UDAYA PLASTICS PERINGANOOR, RESIDING AT PRASANTHI, KRISHNA GARDENS, VELLAT LANE, THRISSUR-11. BY ADV. SRI.C.E.UNNIKRISHNAN RESPONDENTS: ----------------------- 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM-682 033, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE CHIEF MANAGER, KERALA FINANCIAL CORPORATION, THRISSUR BRANCH, SMART BUILDING, KOKKALAI, THRISSUR-680 021. 3. THE DEPUTY TAHSILDAR (R.R.), KERALA FINANCIAL CORPORATION, SMART BUILDING, KOKKALAI, THRISSUR-680 021. R1 & R2 BY ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : TRUE COPY OF THE APPLICATION FOR LOAN SANCTION LETTER DATED05-04-1991. EXT.P2 : TRUE COPY OF THE STATEMENT OF ACCOUNTS FOR THE PERIOD FROM 21-08-1991 TO 30-03-1996. EXT.P3 : TRUE COPY OF THE LETTER OF AGM DATED 01-04-2000. EXT.P4 : TRUE COPY OF THE LETTER DATED 12-08-2002. EXT.P5 : TRUE COPY OF THE RR NOTICE DATED 12-08-2008. EXT.P6 : LETTER OF THE 2ND RESPONDENT NO.110091810/1700/2008 DATED 18-08-2008 EXT.P7 : TRUE COPY OF THE RECEIPT DATED 17-12-2007 EXT.P8 : TRUE COPY OF THE RECEIPT DATED 10-11-2008. EXT.P9 : TRUE COPY OF THE REPRESENTATION DATED 07-10-2010 SENT BY THE PETITIONER. EXT.P10 : TRUE COPY OF THE NOTICE DATED 30-12-2010. EXT.P11 : TRUECOPY OF THE LETTER OF THE 2ND RESPONDENT DATED 22-01-2011. RESPONDENTS' EXHIBITS: NIL //TRUE COPY// P.A. TO JUDGE AMG C.K. ABDUL REHIM,J. --------------------------------------- W.P.(C)No. 2267 OF 2011-G --------------------------------------- DATED THIS THE 9th DAY OF MARCH, 2011 J U D G M E N T Proceedings for sale initiated for realising amounts due to the 1st respondent, is the subject matter of challenge in this writ petition. 2. Inspite of various contentions raised in this case, now the petitioner had filed IA No.2215/2011 seeking direction to restrain respondents from insisting remittance of OTS amount covered under Ext.P11 on or before 31-03-2011. From Ext.P11, it is noticed that 1st respondent Corporation had shown further indulgence in permitting the petitioner to settle the accounts by payment of the OTS amount with belated interest within 15 days from the date of Ext.P11. It is stated by standing counsel appearing for the respondent Corporation that even the dates stipulated therein had already been expired. However, the learned counsel for the petitioner points out that the sale proclaimed under Ext.P10 could not materialise and it is learnt that the respondents are making further proclamation for sale of the property on 24-03-2011. Under such circumstances the petitioner seeks interference of this Court to permit the W.P.(C)No.2267/2011 -2- petitioner to pay off the liability in terms of Ext.P11 before the date of the sale. 3. Without entering upon any finding on the merits of the matter, I am of the view that indulgence can be shown in permitting the petitioner to settle the account under one time settlement, as stipulated in Ext.P11 on payment of the amounts along with belated interest and other expenses if any due, on or before 23-03-2011. 4. Needless to say that if the amount as stipulated above is remitted, the sale scheduled on 24-03-2011 shall be deferred. If payment of amounts due as directed above is made, then necessary steps shall be taken by respondents to release the mortgage without further delay. 5. It is made clear that if there is any failure to make payment as stipulated above, the respondents will be free to proceed with the sale and the further steps as scheduled. The writ petition is disposed of with the above directions. Sd/- C.K. ABDUL REHIM, JUDGE. AMG True copy P.A to Judge