IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR WEDNESDAY, THE 9TH JANUARY 2008 / 19TH POUSHA 1929 WP(C).No. 7149 of 2005(A) ------------------------- PETITIONER: ------------ ANANTHARAMA IYER, PROPRIETOR, SRI SAKTHI OIL AND FLOUR MILL, SOORAMBAIL, P.O. ERNAD, KUMBLA, KASARAGOD DISTRICT BY ADV. SRI.K.I.MAYANKUTTY MATHER ADV.SUNIL SHANKAR RESPONDENTS: ------------- 1. KERALA FINANCIAL CORPORATION, HEAD OFFICE AT VELLAYAMBALAM, THIRUVANANTHAPURAM, REP. BY ITS MANAGING DIRECTOR. 2. BRANCH MANAGER, KERALA FINANCIAL CORPORATION, BRANCH OFFICE, HIGH LANE PLAZA, M.G.ROAD, KASARAGOD. BY SHRI.V.M.UNNIRAJ, SC THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) No. 7149/2005 APPENDIX PETITIONER'S EXHIBITS P1 : COPY OF STATEMENT OF ACCOUNT IN RESPECT OF TERM LOAN ISSUED BY 2ND RESPONDENT. P2 : COPY OF STATEMENT OF ACCOUNT IN RESPECT OF TERM LOAN (NEF) ISSUED BY 2ND RESPONDENT. P3 : COPY OF STATEMENT OF ACCOUNT IN RESPECT OF WORKING CAPITAL LOAN ISSUED BY 2ND RESPONDENT. P4 : COPY OF STATEMENT OF ACCOUNT IN RESPECT OF CD ACCOUNT OF PETITIONER WITH SOUTH INDIAN BANK LTD., KASARGOD DATED 26/02/2005. P5 : COPY OF LETTER ISSUED BY 2ND RESPONDENT TO PETITIONER. P6 : COPY OF PROCEEDIGNS OF 2ND RESPONDENT TO PETITIONER. // TRUE COPY // PA TO JUDGE. jg C.N.RAMACHANDRAN NAIR, J. ------------------------- WP(C) No. 7149 of 2005 --------------------------------- Dated, this the 9th day of January, 2008 J U D G M E N T Heard learned counsel for petitioner and learned standing counsel for KFC. 2. Even though learned counsel for petitioner submitted that loan period is not over and petitioner should be given the facility to clear the arrears in easy instalments, I do not think instalment facility will help the petitioner because unit is wound up. Petitioner is, therefore, given an option to pay 10% of the balance outstanding on or before 15/03/2008 and make an application for OTS benefit. If petitioner makes payment as above and applies for OTS benefit, there will be direction to KFC to grant it. However, if unit is viable and petitioner wants to continue business, petitioner is granted six equal monthly instalments to clear the arrears accrued till 29/02/2008, first of which will be paid on or before 15/03/2008 and balance on or before last date of five succeeding months. Along with arrear instalments the petitioner will pay regular monthly instalment from this March onwards. This writ petition is disposed of as above. (C.N.RAMACHANDRAN NAIR, JUDGE) jg