IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 17TH MAY 2010 / 27TH VAISAKHA 1932 WP(C).No. 37765 of 2009(M) -------------------------- PETITIONER: --------------- THOMAS, S/O.JOSEPH AMBALATHINKAL, MALAYAMPADI P.O., KELAKAM, KANNUR DISTRICT. BY ADV. SRI.C.P.PEETHAMBARAN RESPONDENTS: --------------- 1. THE KERALA STATE HOUSING BOARD, REPRESENTED BY ITS SECRETARY, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, KERALA STATE HOUSING BOARD, IRITTY, KANNUR. BY SRI.A.JAYANKAR - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/05/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No.37765 of 2009-M ---------------------------- Dated this the 17th day of May, 2010. J U D G M E N T The petitioner had availed a housing loan of Rs.34,000/- on 10.3.1995 from the respondent Bank; which had to be repaid by 168 monthly instalments, at the rate of Rs.500/- per month. Since it was not re-paid on time, the Bank proceeded with further steps as discernible from the admitted pleadings and the materials on record. The petitioner has filed Ext.P1 representation before the second respondent pointing out the hardships and that the petitioner is ready and willing to settle the entire liability under the 'One Time Settlement Scheme'. 2. The learned standing counsel appearing for the respondents submits on instruction, that the Government has already extended the 'One Time Settlement Scheme' for clearing the outstanding liability and that the Scheme will remain open till 30.9.2010. The learned standing counsel further submits that the total outstanding liability will be about Rs.2,23,375/- as on the last W.P(C) No.37765 of 2009-M 2 day of the Scheme; and it will be enough, if the petitioner satisfies just a sum of Rs.1,13,500/- or or before 30.9.2010, so as to wipe of the entire liability and to have the loan account closed. 3. In the above circumstances, the petitioner is permitted to clear the liability under the 'One Time Settlement Scheme' by remitting Rs.1,13,500/- on or before 30.9.2010, on which event the respondent shall record satisfaction and close the loan account. Subject to this, all further coercive steps against the petitioner shall be kept in abeyance, for the time being. It is made clear that, if any default is made by the petitioner in satisfying the liability as above, the respondents will be at liberty to proceed with further steps, for realisation of the entire amount due in a lump. The Writ Petition is disposed of. P.R.RAMACHANDRA MENON JUDGE ab