IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 6TH AUGUST 2010 / 15TH SRAVANA 1932 WP(C).No. 22946 of 2010(P) -------------------------- PETITIONERS: --------------- 1. K.BABURAJ,S/O.KRISHNAN,KOORACHALVILA VEEDU, NADUKKAD,NARUVAMOOD PO,THIRUVANANTHAPURAM. 2. KRISHNAN,KOORACHALVILA VEEDU, NADUKKAD,NARUVAMOOD PO,THIRUVANANTHAPURAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENTS: --------------- 1. KERALA FINANCIAL CORPORATION, VELLAYAMBALAM,THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE CHIEF MANAGER, KERALA FINANCIAL CORPORATION,VELLAYAMBALAM,THIRUVANANTHAPURAM. BY ADV. SRI.A.A.ABUL HASSAN, SC, KFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/08/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C) No. 22946 OF 2010 ......................................................................... Dated this the 6th August, 2010 J U D G M E N T The petitioners have filed this Writ Petition challenging the steps taken by the respondent Corportion resorting to the remedy under the Revenue Recovery Act for realisation of the amount stated as due under a loan transaction. The learned Counsel for the petitioners submits that the loan was availed for purchasing a mini lorry bearing No.KL-01/S-4459, which is being operated by the petitioners as a measure of self employment . It is stated that there occurred some default, which was never wilful but because of some unforeseen circumstances and despite all the adverse consequences suffered by the petitioners, they have made earnest arrangements to clear the liability and the only relief now pressed before this Court is to permit the petitioners to wipe out the liability by way of reasonable installments. W.P.(C) No. 22946 OF 2010 2 2. The learned Standing Counsel with reference to the statement filed submits that, the prayer of the petitioners to extend maximum concessions has been considered by the Corporation and the maximum benefit that can be extended to the petitioners is only with regard to the penal interest to an extent of Rs.38,000/- It is also submitted that the balance liability as on 01.07.2010, as given in para 4 of the statement, is Rs.3.45 lakhs. 3. Considering the persuasive submission made by the learned Counsel for the petitioners that they do not intend to challenge the correctness or sustainability of the steps taken by the Corporation, expressing the desire of the petitioners to have the liability cleared by way of reasonable installments, this Court finds it fit and proper to permit the petitioners to clear the liability by way of 'ten' equal monthly installments, the first of which shall be cleared on or before 30.08.2010 to be followed by similar installments to be effected on or before the 30th of the succeeding months. Subject to the above, the recovery proceedings stated as being pursued against the petitioners shall W.P.(C) No. 22946 OF 2010 3 be kept in abeyance. It is made clear that if any default is committed by the petitioners in effecting the installments as above, the respondent Corporation will be at liberty to proceed with further steps for realisation of the amount in a lump sum from the stage where it stands now. The Writ Petition is disposed of. P.R. RAMACHANDRA MENON, JUDGE. lk