BEFORE THE LOK ADALAT ORGANIZED BY THE KERALA HIGH COURT LEGAL SERVICES COMMITTEE AT ERNAKULAM PRESENT: SRI.B.S.KRISHNAN (SENIOR ADVOCATE, HIGH COURT OF KERALA) & SRI.C.KHALID(RETD. DISTRICT JUDGE) FRIDAY, THE 3RD APRIL 2009 / 13TH CHAITHRA 1931 WP(C).No. 34316 of 2005(I) -------------------------- AGAINST THE ORDER IN DRC.797/SIB/ALP IN OA.49/1999 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... WRIT PETITIONERS: ---------------------- 1. M/S.SHIFA MEDICALS, MEDICAL COLLEGE HOSPITAL JUNCTION, ALLEPPEY. 2. K.Y.RASHEED, MANAGING PARTNER, SHIFA MEDICALS, RESIDING AT FARIA CIVIL STATION WARD, ALAPPEY. BY MR.N.N.SUGUNAPALAN, SENIOR ADVOCATE MR.S.SUJIN,ADVOCATE RESPONDENTS: ----------------- 1. THE SOUTH INDIAN BANK LTD., ALAPPUZHA BRANCH, ALAPPUZHA. 2. THE RECOVERY OFFICER, DEBT RECOVERY TRIBUNAL, ERNAKULAM. BY MR.K.K.JOHN,ADVOCATE FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR DETERMINATION AT THE LOK ADALAT ON 03/04/2009, AND THE PARTIES HAVING SETTLED THE MATTER, THE FOLLOWING AWARD IS PASSED IN TERMS OF SETTLEMENT: SRI.B.S.KRISHNAN (SENIOR ADVOCATE, HIGH COURT OF KERALA) & SRI.C.KHALID (RETD.DISTRICT JUDGE) ==================================== W.P.(C).No.34316 of 2005 ==================================== Dated this the 3rd day of April, 2009 AWARD Petitioner-Sri.K.Y.Rasheed and his counsel are present. The Manager(legal) of the respondent-Bank and counsel are also present. After discussion, parties have agreed that the petitioner- Sri.K.Y.Rasheed will pay Rs.10,00,000/-(Rupees ten lakh only) inclusive of interest, other charges etc. to the bank in five equal monthly installments; the first instalment will be paid on 04.05.2009 and the remaining installments will be paid on 4th of the successive months. In case of default of any particular month, the bank is free to proceed further. On payment of the full installments, the bank will immediately get back the documents from the DRT and hand it over the the petitioner. The parties will report to the High Court and withdraw the cases. An Award is passed accordingly. B.S.KRISHNAN (SENIOR ADVOCATE, HIGH COURT OF KERALA) C.KHALID(RETD.DISTRICT JUDGE) dvs