IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 8TH APRIL 2010 / 18TH CHAITHRA 1932 WP(C).No. 9673 of 2010(H) ------------------------- PETITIONER(S): --------------- 1. S.SUBHASH, S/O.SUKUMARAN, AGED 49 YEARS, RESIDING AT "GREESHMAM", EAST OF KELESWARAM TEMPLE, CHIRAYINKAIL, THIRUVANANTHAPURAM. 2. S.O.SHISSI, W/O.S.SUBHASH, RESIDING AT "GREESHMAM", EAST OF KELESWARAM TEMPLE, CHIRAYINKAIL, THIRUVANANTHAPURAM. BY ADV. SRI.THOMAS ABRAHAM SRI.DIPU.R SMT.MERCIAMMA MATHEW SRI.K.S.HARIDAS SRI.V.RENJITH KUMAR RESPONDENT(S): --------------- 1. SYNDICATE BANK, REPRESENTED BY ITS CHIEF MANAGER AND AUTHORISED OFFICER, REGIONAL OFFICE, THIRUVANANTHAPURAM. 2. MANGER, SYNDICATE BANK, TRIVANDRUM LOCAL BRANCH, TRIVANDRUM. BY SC SRI.R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ------------------------ W.P.(C)No.9673 OF 2010 ------------------------ Dated this the 8th day of April, 2010 JUDGMENT The learned counsel for the petitioners submits that the condition imposed by this court while granting the interim order dated 23/3/2010 has already been complied with. 2. The learned standing counsel appearing for the respondent bank submits that the balance outstanding liability will be nearly Rs.13,00,000/-. The learned counsel for the petitioner submits that the petitioners are ready and willing to settle the liability, if the Bank is ready to provide the benefit of 'OTS'. In response to this, the learned counsel for the bank submits that the benefit of OTS' was extended to the petitioners, which however was not availed on time, and this made the bank to proceed with further steps. 2. Taking note of the submissions made from either side, the petitioners are permitted to clear the entire liability in a phased manner, by way of 'six' equal monthly instalments, the first of which shall be effected on or before 30/4/2010 and the remaining instalments shall be effected on or before the 30th of WPC NO. 9673/2010 -2- the succeeding month. Subject to this, Ext.P1 notice shall be kept in abeyance. It is also made clear that if any default is made by the petitioners in clearing the liability as above, the respondents will be at liberty to proceed with further steps for realisation of the entire amount in lump sum. 3. The petitioner will be at liberty to file a representation before the Bank for extending concessions or allowances, if any, on which event, the same shall be considered (upon satisfying the first instalment as above) to the permissible extent at the sole discretion of the Bank and the benefit shall be given credit against the 'last instalment' payable by the petitioners. The Writ Petition is disposed of as above. P.R.RAMACHANDRA MENON, JUDGE. dpk