IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE M.N.KRISHNAN WEDNESDAY, THE 13TH FEBRUARY 2008 / 24TH MAGHA 1929 WP(C).No. 37914 of 2007(L) -------------------------- AGAINST THE ORDER IN EP 135/1984. IN OP(SFC).206/1981 of D.C. & SESSIONS COURT, ERNAKULAM .................... PETITIONER: ------------ PIUS C.MUNDADAN, ADVOCATE, S/O. LATE M.L.CYRIAC, NOW RESIDING AT HOUSE NO.XVII/522, CHURCH NAGAR,MUNDADAN HOUSE, ANGAMALY. BY ADV. SRI.DINESH R.SHENOY RESPONDENTS: ------------- 1. THE KERALA FINANCIAL CORPORATION, REP. BY ITS DEPUTY MANAGER (LEGAL), KFC OFFICE, KALOOR, ERNAKULAM. 2. MUNDADAN INDUSTRIES, A PARTNERSHIP FIRM HAVING ITS HEAD OFFICE AT ANGAMALY. 3. JOHN C.MUNDADAN, S/O.LATE M.L.CYRIAC, MUNDADAN HOUSE, KOTHAKULANGARA SOUTH VILLAGE, ALUVA TALUK. 4. ACHAMMA CYRIAC, W/O.LATE M.L.CYRIAC MUNDADAN, HOUSE NO.XVII/522, CHURCH NAGAR, MUNDADAN HOUSE, ANGAMALY. 5. MARY SOJAN, D/O.M.L.CYRIAC, W/O. SOJAN SEBASTIAN, KIZHAKKEKUTTU HOUSE, HOUSE NO.66/1245, JESUS ROAD, WESTERN END, SCHOOL PADY, VADUTHALA, COCHIN-23. 6. TREASA JOB, D/O.M.L.CYRIAC, FORMERLY TRESA CYRIAC, W/O.JOB VARGHESE, THATTACHERRY, H.NO.45/380(66/362), JAYASREE TOWERS (JAYASREE APARTMENTS), PACHALAM, ERNAKULAM, KOCHI-682 012. WPC 37914 OF 2007 7. ELIZABETH ALPHONSE MEENATTOOR, W/O. ALPHONSE MEENATTOOR, PALACHUVADU ROAD, PADAMUGHAL JUNCTION, KAKKANAD P.O.,KOCHI-682030. 8. ROSAMMA THOMAS VATTEKAT, D/O. LATE M.L. CYRIAC, MUNDADAN HOUSE NO.XVII/522, CHURCH NAGAR, MUNDADAN HOUSE, ANGAMALY. 9. ANNIE ADOLF PLAMOOD, D/O. LATE M.L.CYRIAC, MUNDADAN HOUSE, XVII/522, CHURCH NAGAR, MUNDADAN HOUSE, ANGAMALY. 10. FRANCIS C.MUNDADAN, S/O. LATE M.L.CYRIAC, POPULAR PACKAGING COMPANY, LINETVILLA, CHAMPANOOR, ANGAMALY P.O., ERNAKULAM DISTRICT. 11. JOSE C.MUNDADAN, S/O.LATE M.L.CYRIAC, CC.46/1030A, CHITTOOR ROAD, VADUTHALA, KOCHI-23. 12. JACOB C.MUNDADAN, S/O.LATE M.L.CYRIAC, MUNDADAN HOUSE, TRIKKAKARA P.O., COCHIN-21. 13. THE CHIEF MANAGER, KFC BRANCH OFFICE, FINANCE TOWER, KALOOR P.O., KOCHI-17. BY ADV. SRI.L.MOHANAN, SC, KFC SRI.P.SANJAY SRI.BIJU MEENATTOOR SRI.G.RAJAGOPAL SRI.THOMAS M.JACOB THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: M.N.KRISHNAN, J. -------------------------- W.P.(C). NO. 37914 OF 2007 --------------------- Dated this the 13th day of February, 2008 JUDGMENT This writ petition is preferred with a prayer to quash Ext.P6 order and Ext.P13 order and for ancillary reliefs. 2. The whole litigation is on the basis of a loan advanced by the Kerala Financial Corporation. Now a stage has come where the request is made to direct the District Court, Ernakulam and the Kerala Financial Corporation to sell 10 cents of property from the north of the total extent of 1acre 72.600 cents in Sy. No. 163/3A of Angamali Village. After filing of the writ petition herein, various negotiations have taken place and ultimately a consensus is arrived between the members of the family as well as the Kerala Financial Corporation. Towards the liability an amount of Rs.25 lakhs had been paid by the writ petitioner Sri. Pius C. Mundadan and for the balance amount, which is crystalised as Rs.36,37,000/- the 9th respondent namely Smt. Annie Adolf Plamood had undertaken to pay the same. The Kerala Financial Corporation has filed a statement before this court wherein according to them a total amount due as on WPC NO 37914/07 2 15.2.08 will be Rs.39,62,203. 3. Learned counsel appearing for the respondents would contend that the claim of security charges, the calculation of interest and cost of litigation and execution are not properly calculated and by any stretch of imagination the Kerala Financial Corporation is not entitled to a litigation cost of Rs.3 lakhs. 4. The matter was discussed in the court and after a persuasion from me, it is decided to reduce the litigation cost from Rs.3 lakhs to Rs. 1 lakh but to retain all other amounts. Therefore the liability is crystalised at Rs.36,37,203 after taking into consideration Rs.1,25,000/- stamp paper which the Kerala Financial Corporation is entitled to get refunded. The 9th respondent has undertaken to pay this amount within 10 days and I fix the outer date as 25.2.08. This amount has to be paid on or before that date. Thereafter an application has to be filed in the execution proceedings pending before the District court to record full satisfaction, which can be considered and ordered by the court below. Needless to say that since the petitioner had paid Rs.25 lakhs and the 9th respondent is to pay Rs.36,37,000/- necessarily the entire property, which is the subject matter of litigation, shall be a charge for that amount between WPC NO 37914/07 3 the parties inter se namely the petitioner and respondents 3 to 12. I earnestly hope that this litigation will not come to the court again and the matter be closed on 25.2.08 when the full satisfaction is recorded. Whatever records are available and pledged, shall be returned to the petitioner and 9th respondent who will keep custody of those documents on behalf of all interested parties. Needless to say that deposit of the amount and full satisfaction is recorded the mortgaged property shall stand redeemed forthwith. The writ petition is disposed of as above. M.N.KRISHNAN, JUDGE vps WPC NO 37914/07 4