IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 15TH JANUARY 2009 / 25TH POUSHA 1930 WP(C).No. 37582 of 2008(Y) -------------------------- PETITIONER(S): --------------- V.S.RAJAN S/O. SAVARIAR, PROPRIETOR, M/S. KERALA REISEN HOTEL ANAMUDI, MARAYOOR, DEVIKULAM TALUK, DIST.IDUKKI. BY ADV. SRI.K.REGHU KOTTAPPURAM RESPONDENT(S): --------------- 1. KERALA FINANCIAL CORPORTION, REPRESENTED BY ITS MANAGING DIRECTOR, VALANGAMBALAM, THIRUVANANTHPURAM - 695033. 2. THE BRANCH MANAGER, KERALA FINANCIAL CORPORATION, PULIMOOTTIL SHOPPING ARCADE, MUVATTUPUZHA ROAD, THODUPUZHA, DIST. IDUKKI. ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC,J. ----------------------- W.P.(C).No. 37582 OF 2008 ------------------------ Dated this the 15th day of January, 2009. JUDGMENT Petitioner is a defaulter to the respondent Corporation. When steps were taken for realizing the amount that was due to the respondent, petitioner applied for the benefit of One Time Settlement Scheme. That offer was accepted and the respondent agreed to settle the liability by accepting Rs.60 lakhs. Although, the petitioner had paid Rs.30 lakhs, he wanted further time to make payment in full. It is praying for a direction to the respondents to grant him further time that this writ petition has been filed. 2. At the time when the writ petition came up for orders before this court on 30.12.2008, the Standing Counsel for the respondents was directed to get instruction and the petitioner was also directed to remit a further sum WP(c).No.37582/08 2 of Rs.10 lakhs before 15.1.2009. 3. Today, when the matter came up, both sides agree that in compliance with the said order, a sum of Rs.10 lakhs has been remitted by the petitioner. Thus out of 60 lakhs, so far, the petitioner has paid Rs.40 lakhs and that the petitioner has proved his bonafides. In such circumstances, the petitioner is justified in seeking further time to liquidate the liability. 4. I heard the standing counsel appearing for the respondent. 5. However, though the three months period sought for by the petitioner is too long, I direct that if the petitioner pays the balance amount on or before 31.3.2009 along with interest for the belated payment, that shall be accepted by the respondent as payment in compliance with the offer accepting the OTS. WP(c).No.37582/08 3 6. Needless to say that, if the payment is not made as above, the Corporation will be entitled to proceed in accordance with law. Writ petition is disposed of as above. (ANTONY DOMINIC) JUDGE vi/ WP(c).No.37582/08 4