IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI THURSDAY, THE 31ST JANUARY 2008 / 11TH MAGHA 1929 WP(C).No. 3729 of 2008(R) ------------------------- PETITIONER: ------------ M.NISHA, W/O.SHAJAN, AGED 38 YEARS, MANNUR HOUSE, PANAMARAM VILLAGE, MANATHAVADY TALUK, WYNAD DISTRICT. BY ADV. SRI.SHAJI JOSEPH RESPONDENTS: ------------- 1. THE SPECIAL DEPUTY TAHSILDAR, (REVENUE RECOVERY), THE KERALA STATE FINANCIAL ENTERPRISES LTD., KALLAI ROAD, KOZHIKODE-2. 2. THE MANAGER, KERALA STATE FINANCIAL ENTERPRISES, WEST HILL ROAD, CALICUT. 3. THOMAS MATHEW, KALAPPURACKAL HOUSE, NADAVAYAL P.O., WYNAD. BY ADV. SRI.M.K.CHANDRAMOHAN DAS, SC, KSFE, LTD THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI, J ------------------- W.P.(C).3729/2008 -------------------- Dated this the 31st day of January, 2008 JUDGMENT Petitioner stood as a guarantor for the third respondent who had availed two loans from KSFE. Petitioner had mortgaged her property also. Recovery proceedings have now been initiated in relation to the property mortgaged by the petitioner, as evidenced by Ext.P1. Petitioner submits that she is willing to pay the entire amount demanded or to see that the demanded amount is paid by the principal debtor provided some time is granted. 2. I head the learned Standing Counsel for the KSFE also. 3. In the result, writ petition is disposed of in the following terms: (i). Petitioner may, either of her own or along with the principal debtor, submit an W.P.(C).3729/2008 2 application before the KSFE indicating that she is willing to pay the entire amount demanded subject to remission of interest which KSFE may grant under the One Time Settlement scheme. Such application shall be filed within one month from today. (ii). If it is so filed, competent authority of the second respondent shall look into the same and take a decision within four weeks thereafter. (iii). Sale of the property pursuant to Ext.P1 shall be kept in abeyance till a decision is taken as aforementioned provided the petitioner pays an amount of Rs.25,000/- along with the application to be filed in the manner aforementioned. V.GIRI, Judge mrcs