IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 4TH AUGUST 2011 / 13TH SRAVANA 1933 WP(C).No. 20123 of 2011(M) ----------------------------------------- PETITIONER(S): ------------------------ K. REGHUVEERA RAO AGED 77 YEARS, S/O.RAMANNA MESTHIRI SRI DEVI NILAYA, BEENJATHADKA, PERDALA POST, KASARAGOD. BY ADV. SRI.SAJEEV KUMAR K.GOPAL, SMT.AMBIKA RADHAKRISHNAN. RESPONDENT(S): -------------------------- 1. THE KERALA FINANCIAL CORPORATION, REP. BY ITS BRANCH MANAGER, KASARAGOD-671 121 2. THE DEPUTY TAHSILDAR (R.R) KERALA FINANCIAL CORPORATION, KASARAGOD-671 121. R1 BY ADV. MR.R.S. KALKURA, SC. R2 BY GOVT. PLEADER MR.C.K. GOVINDAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/08/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 20123 of 2011(M) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE PATTA IN RESPECT OF THE PETITIONER'S PROPERTY ISSUED BY THE TAHSILDAR, KASARAGOD. EXT.P2: COPY OF THE PROVISION STATEMENT OF ACCOUNTS FROM 01/01/2001 TO 07/01/2010 ISSUED BY THE KERALA FINANCIAL CORPORATION DATED 07/01/2010. EXT.P3: COPY OF THE NOTICE IN FORM NO.16 ISSUED UNDER SECTION 49(2) OF KERALA REVENUE RECOVERY ACT BY THE 2ND RESPONDENT DATED 14/06/2011. RESPONDENT'S EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE rs S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.20123 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 4th day of August, 2011 J U D G M E N T The petitioner challenges proceedings initiated by the 1st respondent - Kerala Financial Corporation under the State Financial Corporation Act, 1951 for recovery of loan amounts advanced by the 1st respondent to the petitioner's son, for repayment of which the petitioner was a guarantor. The petitioner seeks six months' time to pay off the amount due. This is opposed by the counsel for the K.F.C. He submits that, the loan is of the year 2001 and that one of the co-obligants have already withdrawn and the loan was rescheduled in 2005. The petitioner or his son did not pay off the amount instead they filed suits against the K.F.C. which were dismissed and in one appeal filed they obtained a stay of proceedings against the vehicle which was hypothicated to the K.F.C., is his submission. Therefore, according to the standing counsel, the petitioner is not W.P.(C)No.20123 of 2011 -2- entitled to any further indulgence in the matter. Having heard both sides, I dispose of this writ petition with the following directions: The respondents shall permit the petitioner to pay off the balance amount due in 6 (six) equal monthly instalments starting from 01.09.2011. Every subsequent instalment shall be paid on the first working day of every succeeding month. If the petitioner pays the instalments on due dates without default, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in payment of any one of the instalment, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/