IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 7TH MARCH 2008 / 17TH PHALGUNA 1929 WP(C).No. 7903 of 2008(N) ------------------------- PETITIONER: ------------ JUBAIRA A.P.M., RAFI MANZIL, VENGAD, KANNUR DISTRICT. BY ADV. SRI.C.MURALIKRISHNAN (PAYYANUR) RESPONDENTS: ------------- 1. KERALA FINANCIAL CORPORATION, REPRESENTED BY MANAGER, BRANCH OFFICE, CHANDROTH COMPLEX, NETHAJI ROAD, KANNUR-670001. 2. DEPUTY TAHSILDAR (REVENUE RECOVERY), KERALA FINANCIAL CORPORATION, KANNUR-670 001. BY STANDING COUNSEL SRI V.B.UNNIRAJ THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------ W.P.(C) 7903 of 2008 ------------------------------------- Dated: MARCH 7, 2008 JUDGMENT The petitioner had availed financial assistance from the respondent. It would appear that default was committed and that led to the issuance of Ext.P3 and challenging Ext.P3, this writ petition has been filed. 2. The main grievance of the petitioner is regarding the method of quantification of penal interest. According to the petitioner, capitalisation method has been adopted for penal interest. This grievance of the petitioner is seen highlighted by him in Ext.P2 representation that he has made to the 1st respondent and therefore this is a matter which the 1st respondent can examine and take a decision. 3. Learned counsel for the petitioner contends that in the meantime recovery proceedings have been initiated as per Ext.P3 which, if allowed, will cause serious prejudice to the petitioner. 4. Having regard to the fact that Ext.P2 is to be dealt with and orders passed by the 1st respondent, I feel further proceedings WP(C) 7903/08 Page numbers pursuant to Ext.P3 should be deferred on the petitioner remitting Rs.1 lakh within two weeks from today. It is directed that the 1st respondent shall consider Ext.P2 and pass orders thereon as expeditiously as possible, at any rate, within four weeks of production of a copy of this judgment. Once a decision is rendered on Ext.P2 as above, the 1st respondent shall also consider as to whether the petitioner can be permitted to discharge her balance liability in instalments. Writ petition is disposed of as above. ANTONY DOMINIC, JUDGE mt/-