IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 4TH OCTOBER 2010 / 12TH ASWINA 1932 WP(C).No. 28719 of 2010(L) -------------------------- PETITIONER(S): --------------- N.VASU, AGED 54 YEARS, DHAYORATH HOUSE, KADIRUR P.O., TELLICHERRY, KANNUR DISTRICT. BY ADV. SRI.M.SASINDRAN SRI.V.VENUGOPAL RESPONDENT(S): --------------- 1. THE KERALA FINANCIAL CORPORATION, THIRUVANANTHAPURAM-I, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE BRANCH MANAGER, KFC, KANNUR BRANCH, CHANDROTH COMPLEX, NETHAJI ROAD, KANNUR. 3. THE SPECIAL DEPUTY TAHSILDAR (REVENUE RECOVERY), KERALA FINANCIAL CORPORATION, KANNUR. ADV.SRI.R.S. KALKURA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. ------------------------------------------- W.P.(C).No.28719 of 2010 ------------------------------------------- Dated this the 4th day of October, 2010 J U D G M E N T ---------------------- Prayer in this writ petition is for a direction commanding the respondents to provide installment facility for payment of amount covered under Ext.P1 compromise settlement. Petitioner availed a vehicle loan from the 2nd respondent to the tune of Rs.3,75,000/-, during the year 1999. It is stated that consequent to default committed in repayment the 2nd respondent sanctioned fresh loan by restructuring the defaulted amounts. But repayments were not regular even thereafter and ultimately on the basis of approach made by the petitioner, Ext.P1 settlement was arrived. After permitting waiver of interest and penal interest to the possible extent, an amount of Rs.2,87,000/- was agreed to be paid by the petitioner on or before 31.3.2010. Admittedly the said amount was not paid within the time stipulated. According to the petitioner, the respondents have not allowed reduction under the premise of 'One Time Settlement' and the petitioner is not liable for payment of the amount mentioned in Ext.P1. However, it is submitted that the petitioner is ready and willing to pay off the amounts covered under Ext.P1 provided reasonable time is granted. W.P.(C).28719/10- -2- 2. Learned Standing Counsel appearing for respondents 1 and 2 submitted that the petitioner had defaulted repayment of the loan which was availed in the year 1995, inspite of the fact that repayment period of the loan was only upto the year 2005. However, the loan was restructured in the year 2004 with a repayment period extended upto 2006. Still chronic default was committed and coercive steps of recovery was initiated. It is further submitted that Ext.P1 was arrived as a compromise settlement and inspite of repeated demands the petitioner had failed to make payment of the amount within the time stipulated or thereafter till today. However, it is mentioned that the petitioner has not approached respondents 1 and 2 seeking extension of time for making payment under Ext.P1 or with any request for consideration under 'One Time Settlement Scheme' as alleged in this writ petition. 3. Along with I.A.No.1374/2010 the petitioner had produced Ext.P2, which is a representation submitted before the 2nd respondent, seeking benefit of the 'One Time Settlement Scheme'. According to the petitioner, the said representation dt.30.9.2010 is pending disposal before the 2nd respondent. 4. Having considered the facts and circumstances, I am of the opinion that the writ petition can be disposed of directing the 2nd respondent to consider Ext.P2 and to take a decision thereof considering the prayer for 'One Time Settlement' facility W.P.(C).28719/10- -3- or for remitting the amount covered under Ext.P1 along with payment of belated interest. However, a decision on Ext.P2 shall be taken, after affording an opportunity of hearing to the petitioner, at the earliest possible, at any rate within a period of one month from the date of receipt of a copy of this judgment. 5. In order to facilitate the petitioner to approach the respondents as directed above, and for the respondents to take a decision on Ext.P2, coercive steps of recovery if any initiated shall be kept in abeyance for a period of one month from today. C.K.ABDUL REHIM, JUDGE. okb