IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 5TH AUGUST 2009 / 14TH SRAVANA 1931 WP(C).No. 16749 of 2009(K) -------------------------- PETITIONERS: --------------- 1. NIRMALA PRASAD, W/O.LATE PRASAD, RESIDING AT 'NEW HEAVEN', NATTAKAM VILLAGE, POOVANTHURUTH KARA, KOTTAYAM THALUK, KOTTAYAM DISTRICT. 2. ARUN, S/O.LATE PRASAD, RESIDING AT 'NEW HEAVEN', NATTAKAM VILLAGE, POOVANTHURUTH KARA, KOTTAYAM THALUK, KOTTAYAM DISTRICT. 3. ANOOB, S/O.LATE PRASAD, RESIDING AT 'NEW HEAVEN', NATTAKAM VILLAGE, POOVANTHURUTH KARA, KOTTAYAM THALUK, KOTTAYAM DISTRICT. 4. ASWIN, S/O.LATE PRASAD, RESIDING AT 'NEW HEAVEN', NATTAKAM VILLAGE, POOVANTHURUTH KARA, KOTTAYAM THALUK, KOTTAYAM DISTRICT. BY ADV. MR. B.PREMOD RESPONDENTS: --------------- 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM, REP. BY ITS DISTRICT MANAGER, K.F.C.OFFICE, M.C.ROAD, NEAR YWCA, KOTTAYAM TOWN, KOTTAYAM DISTRICT. 2. DEPUTY THAHSILDAR R.R., OFFICE OF THE KERALA FINANCIAL CORPORATION, M.C.ROAD, NEAR Y.W.C.A., KOTTAYAM TOWN, KOTTAYAM DISTRICT. ADV. SRI.K.JAJU BABU,SC,KERALA FINANCIAL COR FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 16749 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 5th day of August, 2009 JUDGMENT The deceased husband of the first petitioner had availed a loan of Rs. 3,55,500/- from the first respondent in the year 1997, for purchasing a jeep. Subsequently, the borrower took his last breath on 24.7.99 and when the repayments could not be effected as scheduled, the respondents proceeded with the coercive steps. This was sought to be intercepted by filing W.P.(C) 36275 of 2008, claiming for the benefit of 'OTS', which led to Ext.P2 judgment. 2. As obvious from Ext.P2, the petitioners were permitted to avail the benefit of 'OTS', giving appropriate directions to the respondents, on condition that, the petitioners remitted a sum of Rs.1 lakh within one month as specified. It is now brought to the notice of this Court as per the statement filed from the part of the respondents that, in spite of the specific direction given by this Court, the petitioners did not choose to remit the sum of Rs. 1 lakh, nor did they file any fresh application for 'OTS'. It is also stated that, the outstanding liability as on date will come to about Rs. 17,28,869/- as given in paragraph 11 of the statement filed by the respondents. 3. However, it is also pointed out by the respondents in paragraph19 of the statement that, notwithstanding the lapses on the WP (C) No. 16749 of 2009 : 2 : part of the petitioners, merely as a gesture of goodwill and help, the respondents are ready to revive the 'OTS' for Rs. 4.5 lakhs as originally granted to the petitioners, provided the said amount is remitted within two months along with defaulted interest, by way of simple interest at the rate of 12 % p.a. from 21.3.2002, the revenue recovery charges and other incidental expenses/costs. The learned counsel for the petitioners submits that, the course suggested by the respondents is very much acceptable to them. 4. In the above circumstances, the petitioners are directed to remit a sum of Rs. 4.5 lakhs with such other incidental charges as specified within two months; subject to which, the coercive steps, now stated as being pursued against the petitioners shall be kept in abeyance. If any default is committed by the petitioners, the respondents are at liberty to proceed with further steps, from the stage where it stands now, for the realization of the entire amount in a lump sum. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd