C KRISHNA DAS Vs. STATE OF KERALA

JUDGEMENT

(1.) THE prayer sought in this writ petition is to direct the respondents to extend the benefit of One Time Settlement Scheme by accepting Rs. 3. 5 lakhs in settlement of the liability.

(2.) PETITIONER had availed of loan from the 4th respondent. Default was committed and proceedings were initiated before the Arbitrator. Award was passed enabling the 4th respondent to realise its dues. Petitioner submits that subsequently, he took up the matter before the Adalath and that a settlement was arrived at between himself and the 4th respondent agreeing to liquidate the liability by paying Rs. 3. 5 lakhs before 31/3/2009. According to him, he could not raise the money in time and therefore, he moved Ext. P4 before the government for enlarging the time, which was forwarded to the 2nd respondent as per Ext. P5. Complaining that no decision has been taken on Ext. P5, the writ petition is filed.

(3.) STANDING counsel appearing for the 4th respondent has obtained instructions in the matter. On instructions, it is stated that in terms of the ots that was in vogue till 31/3/2009, petitioner ought to have paid an amount of Rs. 4,24,345/- and that he did not make such payment. It is stated that no agreement or settlement has been arrived at before the Adalath as claimed by the petitioner and as the OTS period also has expired on 31/3/2009, Bank is not in a position to extend any concession to the petitioner at this distance of time.