IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 4TH SEPTEMBER 2008 / 13TH BHADRA 1930 WP(C).No. 26006 of 2008(U) -------------------------- PETITIONER: ------------------ JOSSY VARGHESE, AGED 47 YEARS, S/O LATE T.J.VARGHESE, THOPPIL HOUSE, KURUSUMMOODU P.O., (BEHIND ST. THOMAS HOSPITAL), CHANGANASSERY. BY ADV. SRI.BIMAL K.NATH SRI.S.JAMAL SRI.E.M.SUNIL KUMAR SMT.SMITHA DIVAKARAN SRI.SREEVALSAN.V RESPONDENTS: ---------------------- 1. KERALA FINANCIAL CORPORATION, THIRUVANANTHAPURAM REP. BY ITS MANAGING DIRECTOR. 2. THE BRANCH MANAGER, KERALA FINANCIAL CORPORATION, PAZHAMANNIL JESST TIWERSM COLLEGE ROAD, PATHANAMTHITTA. BY ADV. SRI.K.JAJU BABU,SC,KERALA FINANCIAL COR FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = = W.P.(C) No. 26006 OF 2008 U = = = = = = = = = = = = = = = = = Dated this the 4th day of September 2008 J U D G M E N T Recovery proceedings were initiated against the petitioner and now the property has also been sold. However, the sale is yet to be confirmed. The petitioner approached this Court challenging the sale proceedings on the ground that it was without giving him an opportunity to buy the land that the KFC was proceeding with the confirmation of the sale. Responding to the direction the KFC has filed a statement stating that such confirmation will be only after giving the petitioner an opportunity to pay the amount. 2. However, when the matter was taken up today, counsel for the petitioner, pointing out that what is sold is his family house, sought an opportunity to discharge the liability in instalments. When this submission was made I heard the counsel for the KFC also. 3. Having regard to the submissions that are made before me, W.P.(C) No. 26006 OF 2008 -2- I feel, an opportunity should be given to the petitioner to save his family property. 4. Accordingly, it is directed that the petitioner shall be permitted to pay the total amount of Rs.50 lakhs due with belated interest of 12.5%, in five equal monthly instalments. The first instalment shall be paid on or before 30.9.2008 and the subsequent instalments will be paid on or before the 30th of every succeeding month. Subject to payment as above, further proceedings shall be kept in abeyance and in case the petitioner commits default it will be open to the KFC to proceed with the confirmation and sale. Writ petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-