IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 8TH MARCH 2010 / 17TH PHALGUNA 1931 WP(C).No. 36770 of 2009(M) -------------------------- PETITIONER: --------------- GOPINATHA PILLAI, AGED 65 YEARS, S/O. KRISHNAPILLA, POONTHALATHAZHAM PUTHENVILA HOUSE, KILIKOLLOOR.P.O., KOLLAM TALUK. BY ADV. SRI.BIJU .C. ABRAHAM RESPONDENTS: --------------- 1. JOINT REGISTRAR OF CO-OPRATIVE SOCIETIES KOLLAM. 2. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES/ARBITRATOR, KOLLAM. 3. THE AUTHORIZED OFFICER, DISTRICT CO-OPERATIVE BANK, HEAD OFFICE KOLLAM. 4. KOLLAM DISTRICT CO-OPERATIVE BANK PALLIMUKH BRANCH KOLLAM, REPRESENTED BY ITS GENERAL MANAGER. R4 BY ADV. SMT.AYSHA YOUSEFF,SC,KOLLM DISTRICT CO GOVERNMENT PLEADER SRI. BIJOY CHANDRAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 36770 of 2009 2 APPENDIX -------------- PETITIONER'S EXHIBITS: ------------------------------- 1. P1:- TRUE COPY OF THE APPLICATION WITH AN ENDORESEMENT DATED 2/7/2009 TO THE 2ND RESPONDENT 2. P2:- TRUE COPY OF THE NOTICE DATED 28/10/2009 ISSUED BY THE 3RD RESPONDENT. //TRUE COPY// PA TO JUDGE P.R. RAMACHANDRA MENON, J. ................................................... WP (C) NO. 36770 OF 2009 ............................................... Dated this the 8th day of March, 2010 J U D G M E N T The petitioner has approached this Court challenging the steps taken by the respondent Bank under the SARFAESI Act. When the matter came for consideration before this Court on 21-12-2009, an interim order was passed, intercepting the coercive steps, on condition that the petitioner remitted a sum of Rs.1.25 lakh on or before 15-01-2010, which was stated as complied with, under which circumstance, the interim order was extended further. The learned counsel for the petitioner submits that, the petitioner has come to understand that there is a Scheme for 'OTS' which is valid till 15th of this month and that the petitioner would like to avail the benefit of the said Scheme by filing necessary WP (C) NO. 36770 OF 2009 2 proceedings in this regard. It is also stated that the petitioner has already preferred Exhibit P1 application in this regard which has been reportedly forwarded with the endorsement made by the first respondent, to the 2nd respondent. The learned counsel further submits that the petitioner is ready and willing to file a fresh application, if necessitated, before the 4th respondent Bank as well. 2. Heard the learned counsel for the 4th respondent Bank and also the learned Government Pleader appearing for the respondents 1 and 2. After hearing both the sides, this Court finds that the petitioner could be permitted to pursue the proceedings for availing the benefit of OTS and to satisfy the liability accordingly. 3. In the above circumstances, the petitioner is permitted to file additional representation, if any, before the 4th respondent Bank. Learned counsel for the 4th respondent Bank submits that there is no necessity to submit any fresh application and that the Bank is ready WP (C) NO. 36770 OF 2009 3 and willing to consider the claim for OTS, provided the petitioner approaches the Bank and satisfies the requisite amount in tune with the provisions of the Scheme on or before the stipulated date, that is before the 15th of this month. 4. In the above facts and circumstances, the writ petition is disposed of directing the petitioner to approach the 4th respondent Bank for availing the benefit of OTS before 15-03-2010 and comply with all the requirements. The claim of the petitioner for OTS shall be considered and appropriate orders shall be passed by the 4th respondent. The liability of the petitioner to satisfy the outstanding amount will be subject to further orders to be passed by the 4th respondent as above. 5. Subject to this, all further recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that if any default is committed by the petitioner in satisfying the liability to be WP (C) NO. 36770 OF 2009 4 stipulated by Bank under the Scheme of OTS, the Bank will be at liberty to proceed with further steps for realisation of the dues in lump sum. The Writ Petition is disposed of as above. Sd/- P.R. RAMACHANDRA MENON, JUDGE. //True copy// PA to Judge rkc