IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH TUESDAY, THE 13TH JANUARY 2009 / 23RD POUSHA 1930 WP(C).No. 1296 of 2009(D) ------------------------- PETITIONER(S): --------------------- 1. DR.K.S.CHANDRAN RAKHEE BHAVAN HILL PALACE ROAD, TRIPUNITHURA 2. SMT.KANTHI CHANDRAN W/O.DR.K.S.CHANDRAN RAKHEE BHAVAN,HILL PALACE ROAD, THRIPUNITHURA. 3. DR.RAHESH CHANDRAN S/O.DR.K.S.CHANDRAN RAKHEE BHAVAN, HILL PALACE ROAD, TRIPUNITHURA. BY ADV. SRI.M.V.THAMBAN RESPONDENT(S): ------------------------ 1. THE KERALA FINANCIAL CORPORATION REPRESENTED BY ITS CHIEF MANAGER BRANCH OFFICE 1ST FLOOR, FINANCE TOWERS KALOOR KOCHI-17. 2. THE DEPUTY TAHSILDAR (RR) KERALA FINANCIAL CORPORATION KALOOR, KOCHI-17. ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - WP.(C) No.1296 of 2009 - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 13th day of January, 2009 JUDGMENT Petitioners availed three loans. It is stated that they were remitting the instalments promptly. But, from 2006 onwards the Pharmaceutical factory was not functioning due to employees' strike and the unit was closed in May, 2007. It is the further case of the petitioner that as on 1.4.2008 the demand by the first respondent was to the tune of Rs.1,25,27,467/-, and the petitioners remitted Rs.95 Lakhs in October, 2008 and therefore the balance, even according to the respondents, was Rs.30,27,467/-. It is stated that it is taking into account a loan which was not availed by the petitioner. Now Ext.P3 sale notice was issued for a sum of Rs.62,27,697/- as on 1.4.2007. 2. I heard learned counsel for the petitioners, Sri.M.M.Sayed Mohammed, learned Standing Counsel besides the learned Government Pleader. The writ petition is disposed of as follows: Proceedings pursuant to Ext.P3 will be kept in abeyance for a period of six weeks on condition that the petitioners remit a sum of Rs.Five Lakhs before the time of sale and also remits a further sum of Rs.Five Lakhs WPC.1296/2009. 2 on or before 10.2.2009. If the petitioners remit the said amounts, there will be a further direction to the first respondent to issue a statement showing the amount payable by the petitioners. This will be done within a period of one week from the date of payment of the amounts as mentioned above. I further make it clear that upon receipt of the statement it is open to the petitioners to approach the first respondent seeking instalment facility to clear the arrears, in which case, the first respondent will pass appropriate orders in the matter of granting instalments. (K.M. JOSEPH, JUDGE) sb