MANU AYAPPA S/O LATE K.M. ACHAPPA Vs. KARNATAKA STATE FINANCIAL CORPORATION MADIKERI BRANCH, KODAGU DISTRICT REP BY ITS DCM. AND OTHERS

JUDGEMENT

(1.) SRI Bipin Hegde, learned advocate for the respondent -KSFC submits that the petitioner has paid Rs. 10,00,000/ - after filing of the writ petition. He further submits that as per the request of the petitioner, respondent -KSFC has extended the benefit of 'One Time Settlement' Scheme in favour of the petitioner. Pursuant to such benefit, the petitioner is required to pay a sum of Rs. 79,98,000/ -. As aforementioned the petitioner has paid Rs. 10,00,000/ - out of the said amount. Thus, the petitioner is still liable to pay Rs. 69,98,000/ - within 90 days from 10.8.2012. According to the respondent -KSFC had the benefit of 'One Time Settlement' Scheme is not extended to the petitioner, then the petitioner would have been liable to pay Rs. 1,54,73,275/ - as on 10.6.2012.

(2.) BE that as it may, since the benefit of 'One Time Settlement' is extended in favour of the petitioner, it is open for the petitioner to clear arrears Rs. 69,98,000/ - within three months from 10.8.2012. Till such time, no coercive steps shall be taken against the petitioner.