KANDARASSERY BALAKRISHNAN Vs. GURUVAYOOR CO OPERATIVE URBAN

JUDGEMENT

(1.) The second respondent bank proceeded against the writ petitioner when he defaulted the repayment of the loan received from the bank. Demand notice has been issued directing the writ petitioner, preventing him from disposing of or dealing with the mortgaged property, as an amount of Rs.3,01,713/- is due to the bank.

(2.) After hearing the counsel for the writ petitioner and the Senior Government Pleader, I direct the writ petitioner to file a representation before the second respondent, within one week from today and the second respondent shall extend the facilities available under the one time settlement scheme, as per Circular No.27/2006, dated 29/06/2006. The representation of the writ petitioner shall be considered, within three weeks from the date of production of the copy of the judgment. W.P.(C) No.32096/2006 (U)

(3.) There shall be a stay of all further proceedings initiated against the writ petitioner, till the time the representation filed by the writ petitioner is disposed of.