BEFORE THE LOK ADALAT ORGANISED BY THE HIGH COURT LEGAL SERVICES COMMITTEE AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.NARAYANAKURUP (RETD.JUDGE) & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM SATURDAY, THE 22ND MAY 2010 / 1ST JYAISHTA 1932 WP(C).No. 4069 of 2010(G) ------------------------- PETITIONERS: --------------- 1. M.G.VIJAYAKUMAR, S/O.LATE K.GOPALAKRISHNAN NAIR, MADHAVAPPILLIL HOUSE, PWD ROAD, NETTOOR P.O., MARADU (VIA), KOCHI-682 304, ERNAKULAM DISTRICT. 2. MAYA VIJAYAKUMAR, W/O.M.G.VIJAYAKUMAR, MADHAVAPPILLIL HOUSE, PWD ROAD, NETTOOR P.O., MARADU (VIA), KOCHI-682 304, ERNAKULAM DISTRICT. 3. DEVAKI AMMA, W/O.LATE K.GOPALAKRISHNAN NAIR, MADHAVAPPILLIL HOUSE, PWD ROAD, NETTOOR P.O., MARADU (VIA), KOCHI-682 304, ERNAKULAM DISTRICT. BY ADV. SRI.K.N.CHANDRABABU RESPONDENTS: --------------- 1. STATE BANK OF TRAVANCORE, M.G.ROAD, ERNAKULAM BRANCH, REP. BY ITS MANAGER, SIB DIVISION, MG ROAD BRANCH, ERNAKULAM, ERNAKULAM DISTRICT. 2. THE AUTHORISED OFFICER, (CHIEF MANAGER) (C & I), STATE BANK OF TRAVANCORE, MG ROAD, ERNAKULAM. ADV. SRI.SATHISH NINAN FOR R1,2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 22/05/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.NARAYANA KURUP (RETD. JUDGE) AND C.K.ABDUL REHIM (JUDGE) --------------------------- W.P.(C) No. 4069 OF 2010 -------------------------- Dated this the 22nd day of May, 2010 A W A R D Petitioners and their counsel present. Assistant General Manager of the respondent bank and counsel present. Parties have arrived at a settlement on the following terms: (1) The petitioners will make deposit of one third of the amount demanded as per Ext.P4 notice within a period of three weeks from today. (2) Petitioners will make a representation before the respondents on deposit of the above said amount requesting for waiver of interest and incidental expenses to the extent possible and shall make an offer with respect to the amount which can be paid as one time settlement. (3) The respondents shall consider such representation and take a decision thereon considering the waiver of interest and other charges to the possible extent, within one month from the date of receipt of such representation and shall intimate such decision to the petitioners. WPC No.4069/2010 2 (4) Further coercive steps for sale of the security assets will be kept in abeyance till such decision is taken and intimated to the petitioners. It is made clear that in the event of default for payment of one third of the amount as stated above, the bank will be at liberty to proceed with further steps in accordance with law. On the basis of the above submission, the writ petition is hereby closed. K.NARAYANA KURUP (Retd. Judge) C.K.ABDUL REHIM (Judge) vps