IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI WEDNESDAY, THE 19TH NOVEMBER 2008 / 28TH KARTHIKA 1930 WP(C).No. 24283 of 2006(N) -------------------------- PETITIONER(S): --------------- KOYAKUTTY, VAYAPPURATH HOUSE, P.O.MAYANAD, KOZHIKODE. BY ADV. SRI.K.S.RAJESH SRI.M.SHAJU PURUSHOTHAMAN RESPONDENT(S): --------------- 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE DISTRICT MANAGER, KERALA FINANCIAL CORPORATION, BRANCH OFFICE, PAVAMONY ROAD, KOZHIKODE. ADV. SRI.K.JAJU BABU,SC,KERALA FINANCIAL COR FOR R1 & 2 SC SRI. JAJU BABU THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI, J ------------------- W.P.(C).24283/2006 -------------------- Dated this the 19th day of November, 2008 JUDGMENT Petitioner challenges the action taken by the Kerala Financial Corporation under Section 29 of the Kerala State Financial Corporation Act. Pursuant to the interim orders passed by this Court, petitioner paid an amount of Rs.10 Lakhs. According to the learned Standing Counsel for the KFC, the balance amount due from the petitioner would be Rs.20 Lakhs. Learned counsel for the petitioner submits that the petitioner has submitted Ext.P7, produced along with the affidavit dated 18.7.2008 before the first respondent praying for a One Time Settlement facility. Counsel for the Corporation submits that the Corporation shall consider Ext.P7. 2. In the result, writ petition is disposed of directing the first respondent to consider Ext.P7 and if the One Time Settlement scheme is still in force, then the Corporation shall consider whether the petitioner W.P.(C).24283/2006 2 shall be permitted to settle the dues under the OTS scheme. A decision shall be taken within three months from the date of receipt of a copy of this judgment. Further coercive proceedings against the petitioner shall be kept in abeyance till a decision is taken as aforementioned, provided the petitioner pays an amount of Rs.2,00,000/- within one month from today. V.GIRI, Judge mrcs