IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE THE CHIEF JUSTICE MR.H.L.DATTU & THE HONOURABLE MR. JUSTICE K.M.JOSEPH THURSDAY, THE 7TH FEBRUARY 2008 / 18TH MAGHA 1929 WA.No. 320 of 2008 --------------------------- AGAINST THE JUDGEMENT IN WPC NO.21993/2007 DATED 18/12/2007 .................... APPELLANTS/RESPONDENTS: ------------------------------------------- 1. THE REGIONAL MANAGER (AUTHORISED OFFICER UNDER THE SARFEASI ACT) CENTRAL BANK OF INDIA, METRO PALACE COCHIN-18. 2. THE BRANCH MANAGER CENTRAL BANK OF INDIA KOZHIKODE BRANCH, KOZHIKODE. BY ADV. SRI.DEVAN RAMACHANDRAN SRI.K.M.ANEESH RESPONDENT/PETITIONER IN THE WPC: ----------------------------------------------------------- THAYODIYIL SAMEER, S/O.T.MOOSA HAJI THAYODIYIL HOUSE, ATHOLI P.O., CALICUT. BY ADV.SRI.GEORGE VARGHESE THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 07/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: H.L.DATTU, C.J. & K.M.JOSEPH, J. ------------------------------------------ W.A.No.320 of 2008 ------------------------------------------ Dated, this the 7th day of February, 2008 JUDGMENT H.L.Dattu, C.J. In order to give a quietus to the litigation between the appellant Bank and the respondent defaulter, we had suggested to both the learned counsel that if the contesting respondent pays a sum of Rupees two lakhs within four months from today, the Bank will not take any coercive steps against the contesting respondent. 2. The suggestion made by us is acceptable to both the learned counsel appearing for the parties. 3. Sri.Devan Ramachandran, learned counsel appearing for the Bank, would submit that, as on today, the contesting respondent is due in a sum of Rupees nine lakhs. 4. However, taking into consideration the facts and circumstances of the present case, without interfering with the orders passed by the learned Single Judge, we direct the respondent to pay a sum of Rupees two lakhs to the Bank within four months time from today, over and above what has been ordered by the learned Single Judge. If the said amount is paid within the time granted by this Court, that amount will not carry any interest. That would take care of the interest of the Bank. If for any reason, the respondent commits default in making the payment as directed by this Court , the Bank is at liberty W.A.No.320 of 2008 2 to take appropriate proceedings to recover the said amount with interest at the rate of 14% per annum. 5. With these observations and directions the writ appeal is disposed of. Ordered accordingly. (H.L.DATTU) CHIEF JUSTICE (K.M.JOSEPH) JUDGE vns