IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR THURSDAY, THE 22ND MAY 2008 / 1ST JYAISHTA 1930 WP(C).No. 8867 of 2005(E) ------------------------- PETITIONER: ------------ 1. ANANDAN P., AGED 48 YEARS, S/O.PADMANABHAN, ANANDA VILASAM, HOUSE NO.7/449, IYETHOTTUVA, PADINJARE KALLADA P.O., KOLLAM DISTRICT. 2. REVAMMA, AGED 42 YEARS, W/O.ANANDAN, ANANDA VILASAM, HOUSE NO.7/449, IYETHOTTUVA, PADINJARE KALLADA P.O., KOLLAM DISTRICT. BY ADV. SRI.DENY JOSEPH SMT.E.DEMA PRAKASH RESPONDENTS: ------------- 1. KERALA STATE HOUSING BOARD, BRANCH OFFICE, KARUNAGAPPALLY, REP. BY ITS MANAGER. 2. TAHSILDAR, TALUK OFFICE, KUNNATHOOR SASTHAMCOTTA. 3. STATE OF KERALA, REP. BY DISTRICT COLLECTOR, KOLLAM. R1BY ADV. SRI.A.JAYASANKAR, SC KSHB, R2 AND R3 BY G.P. SRI. SABU. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 22/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2 APPENDIX PETITIONERS' EXHIBITS: EXT.P1 TRUE COPY OF THE ATTACHMENT NOTICE UNDER SECTION 36 OF THE RR ACT ISSUED TO THE PETITIONERS. EXT.P2 TRUE COPY OF THE RECEIPT OF PAYMENT OF RS. 90,000/- TO RESPONDENT NO.2 1ST RESPONDENT'S EXHIBITS: EXT.R1(a) STATEMENT OF ACCOUNTS AS ON 30.4.2006 TRUE COPY P.S. TO JUDGE. C.N. RAMACHANDRAN NAIR, J. -------------------------------------------- W.P.C. NO. 8867 OF 2005 -------------------------------------------- Dated this the 22nd day of May, 2008 JUDGMENT Heard counsel for the petitioner and standing counsel for the Housing Board. Petitioner availed house building loan and committed default which led to recovery proceedings. Even though petitioner has time upto 2011 under the loan agreement to settle liability in monthly instalment, petitioner committed default and therefore instalment scheme was recalled and recovery proceedings were initiated. Counsel for the Housing Board submitted that OTS scheme is not in force as of now. However, there has been reduction in rate of interest on house building loan. In the circumstances, I feel petitioner should be gramted reschedulement for repayment of arrears with reduced rate of interest. On the other hand, if petitioner offers payment in lump I feel Housing Board should give incentives under OTS scheme or otherwise because liability is fully settled. W.P. is disposed of directing the petitioner to approach the Secretary with proposal for settlement of liability under OTS scheme or for rescheduling loan. It will be open to 2 the Housing Board to impose conditions because petitioner is already a defaulter. (C.N. RAMACHANDRAN NAIR) Judge kk 3