MARYKUTTY Vs. THE KERALA STATE FINANCIAL ENTERPRISES LTD.

JUDGEMENT

(1.) HEARD the learned counsel for the petitioners and the learned senior counsel appearing for the respondent. Petitioners are facing revenue recovery proceedings and Exts. P1 and P2 are the notices issued for the recovery of Rs. 17,11,064/ - together with interest and other charges. In this writ petition what is sought for by the petitioners is only an installment facility.

(2.) TAKING note of the submission made, I direct that the petitioners shall remit 1/4th of the amount due within four weeks from today. Subject to such payment, recovery proceedings will stand stayed. If payment is made as above, balance amount will be allowed to pay in eight equal monthly installments. First installment shall be paid on or before 30.12.2012 and the subsequent installments shall be paid on or before the last working day of every succeeding month. If payments are made as above, coercive action will be deferred and in case default is committed in any one of the installments, respondents will be free to continue the recovery action that they have already initiated.