IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH WEDNESDAY, THE 8TH AUGUST 2007 / 17TH SRAVANA 1929 WP(C).No. 16459 of 2007(H) -------------------------- PETITIONER: ------------ AJAY P.S., PUTHUPARAMBIL HOUSE, CHIRAKADAVU CENTER P.O., KANJIRAPPALLY, KOTTAYAM DISTRICT. BY ADV. SRI.BIMAL K.NATH SRI.S.JAMAL SRI.E.M.SUNIL KUMAR RESPONDENTS: ------------- 1. THE GENERAL MANAGER, MEENACHIL EAST URBAN CO-OPERATIVE BANK LTD., NO.4266, POONJAR, ERATTUPETTA (VIA), KOTTAYAM DISTRICT. 2. THE SPECIAL SALE OFFICER, MEENACHIL EAST URBAN CO-OPERATIVE BANK LTD., NO.4266, POONJAR, ERATTUPETTA (VIA), KOTTAYAM DISTRICT. BY ADV. SRI.SHAJI THOMAS PORKKATTIL GOVT.PLEADER SRI.P.K.RAVIKRISHNAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08/08/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER'S EXHIBITS EXT.P1 TRUE COPY OF THE NOTICE DTD. 12-02-2007 ISSUED BY R2 EXT.P2 TRUE COPY OF THE O.T.S. APPLICATION FILED BEFORE R1 DTD. 18-4-07 /True Copy/ PA to Judge. K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - W.P.(C).No. 16459 OF 2007 - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 8th day of August, 2007 JUDGMENT Petitioner availed a loan which is not repaid. Petitioner challenges the recovery proceedings. He seeks a direction to the first respondent to consider Ext.P2 proposal for one time settlement. He seeks a further direction to the first respondent to provide instalment facilities to him. 2. I heard learned counsel for the petitioner and the learned counsel for the Bank also. 3. It is submitted by the learned counsel for the Bank that there is no one time settlement scheme available in the Urban Bank. Learned counsel for the petitioner prays that petitioner may be permitted to pay off the entire amounts in easy instalments. The writ petition is disposed of permitting the petitioner to pay off the entire amount remaining to be paid with due interest in six equal monthly instalments, the first of which shall be WPC No.16459/07 2 payable on or before 04/09/2007. Petitioner is to pay the remaining instalments on or before the 4th of every succeeding months. The first respondent will serve a statement on the petitioner showing the amount remaining to be paid and also the amount of instalments to be paid on the basis that the amount is to be paid in 6 equal monthly instalments, within two weeks from today. If the petitioner does not pay any of the instalments as aforesaid, petitioner will lose the benefit of this judgment and it is open to the respondent-Bank to proceed against the petitioner in accordance with law. (K.M.JOSEPH, JUDGE) sv. WPC No.16459/07 3 WPC No.16459/07 4 (K.M.JOSEPH, JUDGE) sv. WPC No.16459/07 5