IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 5TH AUGUST 2009 / 14TH SRAVANA 1931 WP(C).No. 21921 of 2009(I) -------------------------- PETITIONER: --------------- G.RAVINDRAN NAIR, MEMANA COACH BUILDERS, MEMANA HOUSE, NARIYAPURAM PO, PATHANAMTHITTA - 689 513. BY ADV. MR. A.C.DEVY RESPONDENTS: --------------- 1. THE MANAGING DIRECTOR, KERALA FINANCIAL CORPORATION, VELLAYAMBALAM, TRIVANDRUM-10. 2. THE BRANCH MANAGER, KERALA FINANCIAL CORPORATION, PAZHAMANNIL JESSY TOWER, COLLEGE ROAD, PATHANAMTHITTA. BY ADV. MR. K. JAJU BABU, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 21921 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 5th day of August, 2009 JUDGMENT The petitioner had availed a loan of Rs. 2.18 lakhs for starting an 'SSI' unit in the year 1988. Admittedly, the petitioner could not satisfy the repayments on time and in view of the default, the respondents proceeded with the coercive steps, which was sought to be intercepted praying for the benefit of 'OTS'. 2. As evident from the records produced by the petitioner himself, the respondents had extended much indulgence, enabling the petitioner to discharge the liability offering the benefit of 'OTS'. As borne by Ext.P1, the petitioner was directed to have the liability settled by paying a sum of Rs.7 lakhs on or before 31.8.98. Pursuant to the repeated representations including Ext.P2, further chances were given to the petitioner and as per Ext.P3 dated 23.9.95, the petitioner was directed to deposit the requisite amount as specified therein on or before 30.10.2005. The period was extended further till the year 2007, but nothing transpired in positive, which made the outstanding liability to be mounted up, which as on date is Rs.72.93 lakhs. 3. The learned counsel appearing for the respondents submits that, though the facility for OTS stands expired, considering the particular facts and circumstances and the sequence of events, the WP (C) No. 21921 of 2009 : 2 : petitioner's case can be treated as a 'special case' and that the respondents are ready and willing to consider the matter afresh, provided the petitioner deposits a sum of Rs.10 lakhs within two weeks and submits an application in this regard. 3. In the above facts and circumstances, the petitioner is directed to deposit a sum of Rs. 10 lakhs within three weeks, simultaneously filing a petition for considering the case under 'OTS' and on such an event, the first respondent shall cause the matter to be considered by the competent authority. The final decision in this regard shall be taken as expeditiously as possible, at any rate within 3 months. It is also made clear that, if any tender has been received pursuant to Ext.P11 notification, the same shall be kept in abeyance and all further proceedings will be subject to the orders to be passed by the respondents in the application to be preferred by the petitioner for availing the benefit of 'OTS' as stated hereinbefore. If the petitioner commits any default in satisfying the requirements as above, the respondents are at liberty to proceed with further steps for realization of the entire amount in lump sum, from the stage where it stands now. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd