P CHITHARANJAN Vs. STATE OF KERALA

JUDGEMENT

(1.) The writ petitioner had availed a loan from the third respondent, bank, and defaulted the payment. Because of the default in re-paying the loan amount, the bank proceeded against the writ petitioner informing him that the property would be brought to sale, as an amount of Rs.1,57,607/- as on 22.2.2005, is due to the bank.

(2.) I heard the learned counsel for the third respondent, bank, as well as the counsel for the writ petitioner. The learned counsel for the writ petitioner submits that the petitioner is prepared to have an One Time Settlement and remit the amount accordingly.

(3.) In view of the above facts, I direct the writ petitioner to approach the third respondent, bank, with a representation, requesting for an One Time Settlement, within ten days from today. The third respondent shall hear the petitioner and dispose of the said representation on merit, granting him One Time Settlement scheme, as per Circular No.27/2006 dated 29.6.2006, which is valid upto 31.12.2006.