IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 13TH JANUARY 2011 / 23RD POUSHA 1932 WP(C).No. 31913 of 2010(L) -------------------------- PETITIONER(S): --------------- 1. TOPSON T.ANTONY, POOVATHUMOOTTIL, NILAMBUR P.O., NILAMBUR VILLAGE, NILAMBUR TALUK, MALAPPURAM DISTRICT. 2. MATHEW K.M., KOOTTAPARAMBIL, NILAMBUR P.O., NILAMBUR VILLAGE, NILAMBUR TALUK, MALAPPURAM DISTRICT. BY ADV. SRI.K.B.ARUNKUMAR RESPONDENT(S): --------------- 1. THE SPECIAL DEPUTY TAHSILDAR(RR), NO.VIII, K.S.F.E.LTD., PALAKKAD, PIN-678001. 2. THE BRANCH MANAGER, K.S.F.E.LTD., NILAMBUR, PIN-679330. 3. THE MANAGING DIRECTOR, THE KERALA STATE FINANCIAL ENTERPRISES LTD., THRISSUR, PIN-680001. 4. THE KERALA STATE FINANCIAL ENTERPRISES LTD., REP. BY ITS MANAGING DIRECTOR, K.S.F.E.LTD., THRISSUR, PIN-680001. ADV. SRI.T.NAVEEN, SC, K.S.F.E. LTD. SRI.M.L.SAJEEV - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.31913 of 2010-L ---------------------------------------- Dated this the 13th day of January, 2011. J U D G M E N T The petitioners are the subscriber and guarantor respectively, in relation to a chitty transaction and loan transaction with the 2nd respondent. The revenue recovery steps were initiated for realising amounts due consequent to the default in repayment of the subscriptions. The petitioners are mainly disputing correctness of the amounts demanded, on the basis that the calculation of interest is not done in a proper manner and that of the payments effected by the petitioners are not given proper credit. 2. In a statement filed on behalf of respondents 2 to 4 it is categorically mentioned that all the remittances made by the petitioners were duly given credit and that the total outstanding in the various accounts pending payment as on 17.12.2010 were illustrated. 3. It is noticed that, by virtue of the conditions imposed through an interim order issued by this Court on W.P(C) No.31913 of 2010-L 2 19.10.2010, the petitioners had effected payment of a sum of `1 lakh. It is noticed that the balance outstanding will be more than `1.5 lakhs. Considering the averments contained in the writ petition, I am of the view that the petitioners could not raise any successful challenge against the liability. The dispute now raised with respect to correctness of the amount could not be adjudicated in this writ petition. It is always left open to the petitioners to approach the respondents with such objections and it will be obligatory on the part of the respondents to consider such objections. But I am not impressed by the contentions to restrain the recovery steps any further. 4. Confronted with the above situation, learned counsel for the petitioners submitted that, subject to the disputes with respect to correctness of the amount being resolved, the petitioners will make payment of the balance amount within a reasonable time in a phased manner. Therefore the petitioners seek indulgence of this Court to restrain the coercive steps of recovery. W.P(C) No.31913 of 2010-L 3 5. Under the above circumstances, the writ petition is disposed of directing the respondents to keep in abeyance all further coercive steps of recovery, subject to condition of the petitioners remitting the entire balance outstanding along with interest if any due, in 8 (eight) equal monthly instalments, falling due on or before 15.2.2011 and on or before the 15th day of succeeding months. 6. The 1st respondent will consider the objections raised by the petitioners under Ext.P8 disputing correctness of the amount in demand, if necessary after furnishing a copy of the statement of accounts to the petitioners and after affording an opportunity of personal hearing to them. A decision on such objections shall be taken at the earliest possible, at any rate within a period of one month from the date of receipt of a copy of this judgment. C.K.ABDUL REHIM JUDGE ab