IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN WEDNESDAY, THE 28TH OCTOBER 2009 / 6TH KARTHIKA 1931 WP(C).No. 22119 of 2009(H) -------------------------- PETITIONER: --------------- INDIRA JAYAKUMAR, ASWATHY BHAVAN, VENGINIERY, PARALAM P.O., THRISSUR. BY ADV. SRI.K.PRAVEEN KUMAR RESPONDENT(S): --------------- 1. THE ZONAL CREDIT COMMITTEE, STATE BANK OF INDIA, TRIVANDURM, REPRESENTED BY ITS CHAIRMAN, 2. THE BRANCH MANAGER, STATE BANK OF INDIA, ARUNOOTTIMANGALAM BRANCH, KOTTAYAM. ADV. SRI.K.K.CHANDRAN PILLAI FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/10/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.N.RAVINDRAN, J. ----------------------------- W.P(C) No. 22119 of 2009-H ------------------------------ Dated this the 28th day of October, 2009. J U D G M E N T This writ petition is filed by a debtor of the State Bank of India seeking a direction to the Bank to close the loan account and to return the documents including the cheque dated 15.1.2009 issued by him to the bank. He also seeks a direction to the respondents to grant one time facility to him as offered in Ext.P7. 2. Sri.K.K.Chandran Pillai, the learned standing counsel for the State Bank of India submits on instructions and with reference to the statement filed on behalf of respondents 1 and 2 that after the bank instituted a suit for recovery of more than Rs.12,00,000/-, a settlement was arrived at on 1.7.2007, whereby the Bank agreed to settle the loan account on payment of the sum of Rs.7,83,000/- by waiving more than Rs.5,00,000/- and that as on 30.9.2009, the sum of Rs.2,39,449/- was due from the petitioner. He submits that future interest is also due. The learned standing counsel for the Bank submits that if the petitioner remits the sum of Rs.2,39,449/- with interest, the bank will forthwith return the documents including the cheque referred to in the writ petition. He also submits that the cheque was dishonoured and is now a stale cheque. W.P(C) No. 22119 of 2009-H 2 3. The learned counsel for the petitioner submits that the petitioner may be given a reasonable time to pay off the amount and take back the documents in order to avoid further proceedings for recovery. The learned standing counsel for the bank does not oppose the grant of reasonable time. In such circumstances I dispose of this writ petition with the direction that in the event of the petitioner paying the balance amount due as on 30.9.2009 referred to in the statement dated 18.10.2009, together with interest that has accrued thereafter within one month from today, the bank shall return the documents including the cheque to the petitioner. If payment is not made within one month it will open to the bank to take steps for realisation of the money due and will not be bound to return the documents unless the balance debt due is repaid by the petitioner. Sd/- P.N.RAVINDRAN JUDGE //True Copy// PA to Judge ab