K SUDHAKARAN NADAR Vs. STATE OF KERALA

JUDGEMENT

(1.) The writ petitioner is a defaulter to the second respondent Urban Bank. Therefore, the second respondent initiated coercive steps against him. The counsel for the writ petitioner submits that he had remitted an amount of Rs.41,500/-. Exhibit P1 award reveals that an amount of Rs.2,25,492/-, with interest at the rate of 12.5%, from the date of the suit, 11/01/2006, is due to the second respondent bank. The benefits of one time settlement is not available to the writ petitioner as the second respondent is an Urban Bank. However, during the hearing, the learned counsel for the second respondent submitted that an instalment facility could be extended to the writ petitioner, provided the writ petitioner undertakes to remit the amount in instalments, without default.

(2.) Considering the amount due from the writ petitioner to the second respondent and other facts that are placed before me, I dispose of the writ petition, directing the writ petitioner to approach the second respondent and the latter, after hearing the writ petitioner, shall fix the amount due from the writ petitioner. This shall be done within two weeks from the date of production of the copy of this judgment along with the request of the writ petitioner to the second respondent.

(3.) Immediately on fixing the final amount due from the writ petitioner to the second respondent as above, the writ petitioner shall pay the same in ten (10) equal monthly instalments. The first instalment shall be paid on or before 08/02/2007 and the subsequent instalments shall be paid on or before the 8th of every succeeding month.