IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 26TH OCTOBER 2010 / 4TH KARTHIKA 1932 WP(C).No. 31083 of 2010(I) -------------------------- PETITIONER(S): -------------------- SANTHA VISWANATHAN, W/O.V.K.VISWANATHAN NAMBIAR, PARVATHY NILAYAM, MUCHUKUNNU P.O., KOZHIKODE DISTRICT. BY ADV. SRI.R.PARTHASARATHY SMT.SEEMA RESPONDENT(S): ----------------------- 1. THE MANAGING DIRECTOR, KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, THIRUVANANTHAPURAM. 2. THE CHIEF MANAGER, KERALA FINANCIAL CORPORATION, KOZHIKODE. SRI.R.S.KALKURA, SC, KFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------- W.P.(C) NO. 31083 OF 2010(I) -------------------------------------------------- Dated this the 26th day of October, 2010 J U D G M E N T Petitioner was a defaulter to the respondent Corporation. While so, One Time Settlement Scheme was announced and according to the petitioner he applied for the benefit of OTS and on the basis of the offer made by the corporation he settled the liability. It is stated that despite the above, his title deeds are not released. It is complaining of the above, the writ petition is filed. 2. Standing Counsel has obtained instruction in the matter. According to him, within the time permitted by the Corporation the petitioner did not pay the OTS amount. It is stated that on account of the delay in paying the amount due under the OTS, petitioner is liable to pay interest for the belated payment. It is stated that since the petitioner has not paid the interest amount, the liability is not discharged and it was therefore the Corporation has not released the documents mortgaged by the petitioner. WPC.No. 31083/2010 :2 : 3. If as stated by the Corporation, payment was not made by the petitioner within the time, Corporation cannot be faulted if they have demanded interest on the belated payment. Petitioner has no case that, he made the payment of interest as demanded by the Corporation. If so, this court cannot direct release of the documents at this stage. Therefore, the writ petition is disposed of leaving it open to the petitioner to remit the interest on belated payment within two weeks defaulted amount and that if payment is made as above, documents mortgaged by the petitioner shall be released within the 2 weeks thereafter. (ANTONY DOMINIC) JUDGE vi/