IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH TUESDAY, THE 5TH JUNE 2007 / 15TH JYAISHTA 1929 WP(C).No. 16000 of 2007(D) --------------------------------------- PETITIONERS: -------------------- 1. SALIM.N.A., S/O.ABDUL RAHIMAN, KOLADY HOUSE, VATANAPPALLY P.O., THRISSUR DISTRICT. 2. ABDULRAHIMAN, S/O.MOOSA, KOLADY HOUSE, VATANAPPALLY P.O., THRISSUR DISTRICT. BY ADV. SRI.C.E.UNNIKRISHNAN RESPONDENTS: ----------------------- 1. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 2. THE OLLUR SERVICE CO-OPERATIVE BANK LTD.NO.279, REPRESENTED BY ITS GENERAL MANAGER, OLLUR. R1 BY GOVERNMENT PLEADER (SHRI P.N. SANTHOSH) BY ADV. SRI.G.SREEKUMAR (CHELUR) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/06/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. M. JOSEPH, J. -------------------------------------- W.P.C. NO. 16000 OF 2007 D -------------------------------------- Dated this the 5th June, 2007 JUDGMENT Case of the petitioners, in brief, is as follows: Petitioners along with one late Khadeeja had availed three loans from the second respondent Bank. It is stated that the said loans were availed of to find out means for life by doing business. But, due to certain unexpected adverse conditions in the market and resultant economic constraints, the amounts could not be repaid. An Award was passed at the instance of the respondent Bank. Petitioners' prayer is to declare that they are eligible to avail the benefits under the One Time Settlement Scheme as evidenced by Exts.P1 and P3, and seek a direction to permit the petitioners to repay the loan amounts after availing the benefits under the One Time Settlement Scheme. Heard the learned standing counsel appearing on behalf of the respondent Bank also. The second petitioner has submitted Ext.P2 representation before the Bank. Counsel for the Bank submits WP(C) NO. 16000/07 D 2 that a decision will be taken on Ext.P2 in accordance with law. Counsel for petitioners submits that after a decision is taken on Ext.P2, a Statement of Account may be directed to be furnished to the petitioners showing the amounts already paid and payable by them. 2. In the light of the stand taken by the counsel for the Bank, there will be a direction to the second respondent to consider and take a decision on Ext.P2 in accordance with law, within a period of six weeks from the date of receipt of a copy of this Judgment. There will be a further direction to the second respondent Bank to furnish a Statement of Account also, after a decision is taken on Ext.P2 so as to enable the petitioners to pay off the entire amount. The Writ Petition is disposed of as above. K. M. JOSEPH, JUDGE kbk.