IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH MONDAY, THE 20TH AUGUST 2007 / 29TH SRAVANA 1929 WP(C).No. 11881 of 2007(M) -------------------------- PETITIONER: ------------ P.M.MUSTHAFA KOYA THANGAL, S/O.MUTHUKOYA THANGAL, PUTHIYAMALIAKKAL HOUSE, KANJIRAPUZHA P.O., MANNARAKKAD TALUK, PALAKKAD DISTRICT. BY ADV. SRI.K.MOHANAKANNAN RESPONDENTS: ------------- 1. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, MANNARKKAD. 2. THE MANNARKKAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., NO.P-934, MANNARKKAD, PALAKKAD- REPRESENTED BY ITS SECRETARY. 3. THE SPECIAL SALES OFFICER, THE MANNARKKAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., NO.P-934, MANNARKKAD, PALAKKAD. BY ADV. SRI.P.K.VIJAYAMOHANAN GOVT. PLEADER SRI.P.K.RAVIKRISHNAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 20/08/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER'S EXHIBITS EXT.P1 TRUE COPY OF THE NOTICE DTD. 24-08-06 ISSUED BY THE BANK EXT.P2 TRUE COPY OF THE NOTICE DD. 24-2-07 ISSUED BY THE BANK EXT.P3 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE BANK EXT.P4 TRUE COPY OF THE OTS CIRCULAR DTD. 27-7-06 ISSUED BY THE BANK RESPONDENT'S EXHIBITS EXT.R2(A) TRUE COPY OF THE LOAN SANCTION ORDER IN RESPECT OF THE BUSINESS LOAN FOR RS. 1,37,000/- EXT.R2(B) TRUE COPY OF THE LOAN SANCTION ORDER IN RESPECT OF THE HOUSING LOAN DTD. 28-12-92 /True copy/ PA to Judge. K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - W.P.(C).No. 11881 OF 2007 - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 20th day of August, 2007 JUDGMENT Petitioner availed a loan which is not repaid. According to the petitioner he is entitled to the benefit of one time settlement scheme in terms of Ext.P4. Petitioner seeks a direction to the third respondent to pass orders on Ext.P3 in the light of Ext.P4. Petitioner challenges Exts.P1 and P2. 2. I heard learned counsel for the Bank also. He submits that the Bank is prepared to waive the entire penal interest and will communicate the amount to be paid by the petitioner without including the penal interest. Learned counsel for the petitioner submits that within two months from the date of receipt of the communication, the entire amount will be paid. Accordingly, the writ petition is disposed of directing the second respondent to intimate the amount due from the petitioner without including penal interest. Petitioner is given two month's time from the date of receipt of the communication WPC No.11881/07 2 from the Bank intimating the amount to pay off the amount. If the petitioner does not pay the amount even after the expiry of two months from the date of receipt of the communication of the amount payable by the petitioner as aforesaid, it is open tot he respondent-Bank to proceed against the petitioner in accordance with law. The amount paid by the petitioner as per the interim order of this court will also be taken into account in calculating the amount payable by the petitioner. (K.M.JOSEPH, JUDGE) sv. WPC No.11881/07 3