IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 21ST MAY 2008 / 31ST VAISAKHA 1930 WP(C).No. 13504 of 2008(G) -------------------------- AGAINST THE ORDER DATED / / IN DRC.1971/05 IN OA.44/2002 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER: ------------ T.K.MASOOD, PLYTECH PAULIN'S BUILDINGS, T.D.ROAD, ERNAKULAM RESIDING AT SAFEENA MANZIL, BALABHAVAN ROAD ALAPPUZHA. BY ADV. SMT.MARIAMMA JOSEPH RESPONDENTS: ------------- 1. THE DEPUTY GENERAL MANAGER UNION BANK OF INDIA, M.G.ROAD, ERNAKULAM. 2. THE MANAGER, UNION BANK OF INDIA MAIN BRANCH, M.G.ROAD, ERNAKULAM. R1 & R2 BY SHRI.A.S.P.KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.13504 OF 2008 ------------------------------------------- Dated this the 21st day of May, 2008 JUDGMENT Petitioner suffered a recovery order before the Debts Recovery Tribunal. That resulted in a recovery certificate leading to Ext.P1 demand for Rs.39,73,446.92 as on 30.6.2005. Petitioner moved this Court and directions were issued to deposit an amount of Rs.25,00,000/-. That was not deposited in time. However, Exts.P3 and P3(a) show that a total amount of Rs.15,00,000/- was deposited. Giving credit to those payments, learned counsel for the Bank states that, as of now, further accruals have come to around Rs.20,00,000/- and the petitioner has not wiped off the outstandings in spite of different opportunities being available. It is also submitted on behalf of the Bank that the date for sale is yet to be fixed. The Bank states that the outstandings are due under proceedings initiated in 2002 by the Tribunal and the matter may not be permitted to be dragged on further. WPC.13504/08 2 Having regard to the facts noticed above, this writ petition is ordered directing that if the petitioner pays one half of the entire remaining outstandings within three weeks from now and the remaining portion within one month thereafter, the impugned proceedings shall be closed. However, if there is default in complying with any of the conditions stated above, the benefit under this judgment, in so far as it is in favour of the petitioner, would stand recalled and the writ petition would stand dismissed. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.