IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN & THE HONOURABLE MR. JUSTICE S.S.SATHEESACHANDRAN THURSDAY, THE 24TH JUNE 2010 / 3RD ASHADHA 1932 FAO.No. 248 of 2009() --------------------- AGAINST THE ORDER DATED 17/01/2009 IN IA.6541/2008 IN OS.624/2007 of II ADDL.SUB COURT,ERNAKULAM .................... APPELLANT/PETITIONER/1ST DEFENDANT ------------------------------------------------------ R.MURUGAN, S/O.RAMAN, AGED 56 YEARS, THEKKILPARAMBIL MAHIMA HOUSE, KUMARANELLOOR P.O, KOTTAYAM. BY ADV. SRI.R.T.PRADEEP SRI.V.VIJULAL RESPONDENTS: RESPONDENTS/PLAINTIFF AND 2ND DEFENDANT ------------------------------------------------------ 1. M/S.SYNDICATE BANK A BODY CORPORATE DULY CONSTITUTED UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING)ACT,1970 HAVING ITS HEAD OFFICE AT MANIPAL AND BRANCH AT BANERJI ROAD, ERNAKULAM REP.BY ITS BRANCH MANAGER AND POWER OF ATTORNEY HOLDER,E.I.ALEX. 2. K.GOPALAKRISHNAN, S/O.KESAVA PILLAI, GOODS GUARD CHIEF YARD MASTER, OFFICE, SOUTHERN RAILWAY, ERNAKULAM MARSHELLING YARD, THAMMANAM P.O., KOCHI-32. ADV. SRI.C.AJITH KUMAR FOR R1. THIS FIRST APPEAL FROM ORDERS HAVING COME UP FOR ADMISSION ON 24/06/2010, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: Thottathil B.Radhakrishnan & S.S.Satheesachandran, JJ. = = = = = = = = = = = = = = = = = = = = = = = = F.A.O.248/2009 & I.A.3509/2009 = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 24th day of June, 2010. Judgment Thottathil B.Radhakrishnan, J. This appeal is against an order refusing to set aside an ex parte decree. During the previous hearing, we noticed that there should be a mode of settlement of this case, though the parties could not work it out before the Adalath. To pursue the bank to have a settlement, we wanted the appellant to deposit an amount of Rs.50,000/-. With that direction on file, though the appellant has not made that deposit even now, the bank has graciously intimated its decision to give the appellant certain concessions, having regard to the fact that the transaction is a housing loan. The total outstandings in terms of FAO248/09 & IA3509/09 -: 2 :- the decree till mid June, 2010 would be Rs.1,93,809/-. The bank is prepared to settle it for Rs.1,50,000/- provided the appellant pays an amount of Rs.50,000/- before 30.6.2010 and the balance Rs.1 lakh before 31.7.2010. We are of the firm view that this is a fair suggestion and there is no other way for the appellant to escape from the decree debt. We also do not find any merit in the appeal in so far as it is against the impugned order. For the aforesaid reasons, we dismiss the appeal, however preserving the interim order of stay of execution granted by us in this appeal upto 31.7.2010 on condition that the appellant remits to the bank directly an amount of Rs.50,000/- on or before 30.6.2010 and remits a further amount of Rs.1 lakh on or before 1.8.2010. Since a concession is extended by the bank as afore- noted, if the appellant defaults in remitting any of the instalments aforesaid, this order of stay will stand vacated and the bank will be at FAO248/09 & IA3509/09 -: 3 :- liberty to further proceed with the execution proceedings as if the decree stands in its entirety. If the amounts as aforesaid are remitted and receipts of such remittance produced before the executing court, the decree will be recorded as satisfied. Thottathil B.Radhakrishnan, Judge. S.S.Satheesachandran, Judge. Sha/2406