IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 22ND AUGUST 2008 / 31ST SRAVANA 1930 WP(C).No. 14485 of 2008(Y) ------------------------------------------ PETITIONER: ---------------------- M/S.THAYYIL PHOTOGRAPHICS PVT.LTD., P.O.POOLAMANNA,VIA THUVVUR, MALAPPURAM DISTRICT,REP.BY ITS MANAGING DIRECTOR,SHRI.THAYYIL AHAMMED MUSTHAFA. BY ADV. SRI.DINESH R.SHENOY RESPONDENTS: ------------------------ 1. KERALA STATE CO-OPERATIVE BANK LTD., REP.BY ITS MANAGING DIRECTOR. 2. KERALA STATE CO-OPERATIVE BANK LTD., KOZHIKODE REGIONAL OFFICE,COLOMBO COMPLEX, M.M.ALI ROAD,KOZHIKODE-673 002, REP.BY ITS DEPUTY GENERAL MANAGER AND AUTHORIZED OFFICER. 3. KERALA STATE CO-OPERATIVE BANK LTD., MALAPPURAM BRANCH, REP.BY THE BRANCH MANAGER. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 TO R3 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 22/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.14485/2008 Y APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF STATEMENT OF ACCOUNTS OF TERM LOAN A/C NO.19.537.36 ISSUED BY THE 3RD RESPONDENT. EXT.P2: COPY OF NOTICE DTD. 13/3/2008 ISSUED BY THE 2ND RESPONDENT UNDER THE SARFAESI Act. EXT.P3: COPY OF REPLY LETTER ISSUED BY THE PETITIONER TO THE 2ND RESPONDENT DTD. 29/04/2008. EXT.P4: COPY OF THE RECEIPT ISSUED BY THE KERALA STATE CO-OPERATIVE BANK LTD. DTD. 7/06/2008. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.S.TO JUDGE Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.14485 of 2008-Y = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 22nd day of August, 2008. JUDGMENT Following the interim order, the petitioner has deposited an amount of Rs.20 lakhs, obviously, demonstrating his bona fides to settle and close the transaction with the first respondent. Under such circumstances, without expressing anything on merits, this writ petition is ordered directing that Ext.P3 shall be taken up by the first respondent bank at the necessary competent level and an appropriate decision rendered thereon on the request of the petitioner for waiver of any portion of the total outstandings. Let this be done after giving the petitioner an opportunity of hearing and also taking into account the different aspects that he may project. It will be open to the bank to conclude the matter even by extending to the petitioner WP(C)14485/2008 -: 2 :- such benefits as may be available to loans which have become over due, though the petitioner's loan time limit is yet to be over. This is because, the petitioner can close the account and the bank can get the monies at an earlier point of time. Let this be done, if the petitioner or authorized representative appears in the Office of the Managing Director of the first respondent on 5-9-2008 to get an appropriate listing of the matter for consideration. Till finalization of matters as stated above, there shall be no distress action against the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/260808