IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 22ND JANUARY 2008 / 2ND MAGHA 1929 WP(C).No. 1062 of 2008(B) ------------------------- PETITIONER: -------------- BHARGAVI AMMA, HARISREE BHAVAN, MANAKKAD, KADAKKAL, KOLLAM DISTRICT. BY ADV. SRI.ALEXANDER GEORGE SRI.DILIP MOHAN RESPONDENTS: ----------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS MANAGER, KADAKKAL BRANCH, KOLLAM DISTRICT. 2. AUTHORIZED OFFICER, CHIEF MANAGER (ADVANCES) STATE BANK OF TRAVANCORE, REGION V,M ZONAL OFFICE, TRIVANDRUM. BY ADV. SRI.R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 1062 OF 2008 B ===================== Dated this the 22nd day of January, 2008 J U D G M E N T Challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, this writ petition has been filed. It would appear from Ext.P7 that the Bank has obtained order under Section 14 of the Act and it is at that stage writ petition has been filed mainly contending that payments made by the petitioner have not been fully accounted. 2. This court had passed an interim order dated 9/1/08 granting stay on condition that the petitioner remits an amount of Rs.1 lakh. It is submitted by the counsel for the petitioner today that the said condition has been complied with on 16/1/2008. 3. Despite the complaint that payments made have not WPC 1062/08 :2 : been fully accounted for, petitioner submits that petitioner intends to move the Bank with a request for One Time Settlement (OTS) Scheme, which according to the counsel is in vogue now. Now that the petitioner only seeks liberty to pursue his claim for OTS , I dispose of this writ petition directing that it will be open to the petitioner to make an application to the respondent Bank seeking the benefit of OTS. The application as above shall be made by the petitioner within two weeks from today and the competent officer in the 1st respondent shall consider and take action on the request so made by the petitioner. If the petitioner makes an application within two weeks from today, until decision is taken on the application of the petitioner, further proceedings pursuant to Ext.P7 will stand deferred. ANTONY DOMINIC, JUDGE. Rp