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R.NAGENDRA RAO, TC 17/2123 versus THE KERALA FINANCIAL CORPORATION

High Court of Kerala

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R.NAGENDRA RAO, TC 17/2123 v. THE KERALA FINANCIAL CORPORATION - WP(C) No. 29880 of 2006(F) [2007] RD-KL 15677 (14 August 2007)

IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 29880 of 2006(F)

1. R.NAGENDRA RAO, TC 17/2123,
... Petitioner

Vs

1. THE KERALA FINANCIAL CORPORATION,
... Respondent

2. THE CHIEF MANAGER, KERALA FINANCIAL

For Petitioner :SRI.DINESH R.SHENOY

For Respondent :SRI.L.MOHANAN, SC, KFC

The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN

Dated :14/08/2007

O R D E R

THOTTATHIL B.RADHAKRISHNAN, J.

W.P(C).No.29880 OF 2006

Dated this the 14th day of August, 2007



JUDGMENT

Learned counsel for the Kerala Financial Corporation, following the earlier deliberations, submits today that the KFC will be willing to extend the benefit of One Time Settlement scheme to the petitioner if he pays an amount of Rs.45,000/- as in 2006, until which time the OTS facility was available, with a further liability to pay belated interest at 10.5 % from 20.9.2006 till 1.8.2007, which works out to Rs.5,890/-, provided the said total amount of Rs.50,890/- is deposited on or before the end of this month. If the petitioner is willing to abide by the aforesaid condition, he can avail the benefit as offered.

2. Having heard counsel for parties on either side, I find no ground to interfere with the recovery on the merits of the matter, particularly when the recovery is based on a contract and there are recoverables in terms of the statutory provisions. Hence, I find no merit in the writ petition. WPC.29880/06 Page numbers In the result, the writ petition is dismissed subject to the observations in the first paragraph of this judgment. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.


Copyright

Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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