IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 7TH SEPTEMBER 2011 / 16TH BHADRA 1933 WP(C).No. 24607 of 2011(A) -------------------------- PETITIONER(S): --------------- GEORGE K.J, AGED 41 YEARS, S/O.JACOB, KOCHUPURAKKAL, PULLISSERRY P.O, MANNARKKAD, PALAKKAD DT. 678 582 BY ADV. SRI.B.V.JOY SANKER RESPONDENT(S): --------------- 1. THE KERALA STATE HOUSING BOARD, REPRESENTED BY ITS SECRETARY, SHANTHI NAGAR, THIRUVANANTHAPURAM – 695 001 2. THE ASSISTANT SECRETARY, DIVISION OFFICE, KERALA STATE HOUSING BOARD, PALAKKAD, PIN – 678 014 3. THE AUTHORISED OFFICER, DIVISION OFFICE, KERALA STATE HOUSING BOARD, PALAKKAD, PIN – 678 014 BY SRI.A.JAYASANKAR - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 24607 of 2011(A) APPENDIX PETITIONER'S EXHIBITS : EXT.P1 : COPY OF THE LETTER ISSUED BY THE 2ND RESPONDENT DTD.3.8.2011 EXT.P2: COPY OF THE AUCTION NOTICE ISSUED BY THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.A TO JUDGE S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.24607 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 7th day of September, 2011 J U D G M E N T The petitioner is a defaulter in repayment of housing loan taken by him from the 1st respondent - Kerala State Housing Board. The loan amount was Rs.3 lakhs. The petitioner has now been directed to pay an amount of Rs.20,80,245/-, which includes 4.7 lakhs interest, Rs.1.67 lakhs penal interest and Rs.11.5 lakhs default interest. The petitioner submits that, the petitioner is not liable to pay the default interest. It is further submitted that the petitioner may be given One Time Settlement facility and also facility to pay off the amount in instalments. 2. The learned Standing Counsel for the Board submits that, the petitioner has to either choose One Time Settlement benefit or facility to pay the total amount due in instalments. If the petitioner is willing to avail of the benefit of One Time Settlement, he would get reduction of W.P.(C)No.24607 of 2011 -2- 80% of default interest and the total penal interest as well. But for availing of that benefit, the petitioner has to pay off the One Time Settlement amount before 30.09.2011, till which time only the scheme is in force. The petitioner chooses the 2nd option to pay off the amount in instalments. The petitioner seeks facility to pay off the amount in fifteen equal monthly instalments. 3. Having heard both sides, I dispose of this writ petition with a direction to the respondents to permit the petitioner to pay off the amounts in 15 (fifteen) equal monthly instalments starting from 01.11.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further coercive proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalments, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in W.P.(C)No.24607 of 2011 -3- that regard. I make it clear that, if the One Time Settlement scheme is being extended beyond 30.09.2011 or if there is any other new scheme, it would be open to the petitioner to approach the respondents for the benefit of the same. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/