IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 25TH MARCH 2011 / 4TH CHAITHRA 1933 WP(C).No. 7734 of 2011(N) -------------------------------------- PETITIONER(S): ----------------------- SUNNY MATHEW, AGED 42 YEARS, S/O. LATE MATHEW, PUTHIYEDATH, THODUPUZHA. BY ADV. SRI.N.K.MOHANLAL RESPONDENT(S): --------------------------- 1. KERALA FINANCIAL CORPORATION, REPRESENTED BY ITS MANAGING DIRECTOR, TRIVANDRUM, PIN-695 033. 2. MANAGER, KERALA FINANCIAL CORPORATION, THODUPUZHA, PIN-685 584. 3. DEPUTY TAHSILDAR (RR), KERALA FINANCIAL CORPORATION, KATTAPPANA, PIN-685 508. 4. VILLAGE OFFICER, THODUPUZHA, PIN-685 584. R1 & R2 BY ADV. SRI.M.M.SAYED MUHAMMED, SC, KFC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/03/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs C.K.ABDUL REHIM, J. ------------------------------------------- W.P.(C).No.7734 of 2011 ------------------------------------------- Dated this the 25th day of March, 2011 J U D G M E N T ---------------------- Challenge is against revenue recovery proceedings initiated pursuant to Ext.P2 and P3 notices for realising amounts due under a loan account, which was availed by the deceased father of the petitioner from respondents 1 and 2. The loan was availed for construction of a commercial complex, in the year 1997. After death of the father (the loanee) the legal heirs have approached respondents 1 and 2 and the loan account was rescheduled in the name of them, in July 2008. It is admitted by the petitioner that there was default in payment of regular instalments as per the rescheduling made. However, it is stated that the petitioner is ready and willing to pay off the amount overdue, which is in default. On that premise he is seeking to restrain the coercive steps of recovery. 2. Heard, standing counsel appearing for respondents 1 and 2. It is pointed out that after the death of the father a total amount of Rs.27,88,500/- was remaining overdue, as on 26.7.2008, which was rescheduled in the names of the legal heirs and they were permitted to make payment of the amounts in equal monthly instalments of Rs.46,475/- each. But after the rescheduling the petitioner and other legal heirs have defaulted W.P.(C).7734/11 -2- regular payments. Hence the recovery steps were initiated. However, it is conceded that if the petitioner is willing to clear payment of the amounts overdue, before 31.3.2011, the respondents will consider further rescheduling, subject to approval of the Board of Directors of the 1st respondent. 3. Learned counsel for the petitioner submits that the petitioner is ready and willing to abide by the offer made in this regard. But he seeks breathing time for payment of the amounts in default. 4. Under the above mentioned circumstances, the writ petition is disposed of directing the respondents to keep in abeyance all further coercive steps of recovery initiated pursuant to Ext.P2 and Ext.P3, subject to condition of the petitioner remitting a sum of Rs.5 lakhs on or before 31.3.2011 and the balance amount, which is pending overdue for payment, on or before 30.4.2011, along with payment of regular EMIs due for the respective months. 5. On payment of arrears as directed above, the petitioner can file a request for rescheduling of the loan, which will be considered by respondents 1 and 2 and appropriate decision will be taken within two weeks from the date of receipt of such request. W.P.(C).7734/11 -3- 6. Needless to say that if the condition as stipulated above is complied with, all further steps of recovery shall be kept in abeyance till a decision as directed above is taken and communicated to the petitioner. It is further made clear that on default in payment of the amounts as stipulated above, the respondents will be free to proceed with further steps. C.K.ABDUL REHIM, JUDGE. okb