Suresh Krishnan Nambiar vs Mulanthuruthi Service Co Operative Bank Ltd., Representer By Its Secretary, Mulanthuruthy Branch, Ernakulam 682314

Gopinath P, J

When this matter is taken up for consideration today, it is the submission of the learned counsel for the petitioner that at present there is a One Time Settlement Scheme namely, "നവക രളയ   ടശ  നവ രണ പദത -2023”, (hereinafter referred to as '2023-Scheme')which is in force till 31.3.2023 and the petitioner wishes to settle the liability in terms of the provisions contained in that Scheme.

The learned counsel appearing for the 1st respondent Bank submits that if the petitioner makes an appropriate application, his claim for settlement under the terms of the aforesaid Scheme can be considered by the Bank. He submits that since the Scheme is to expire on 31.3.2023, the petitioner may by required to make an application forthwith. It is submitted that out of the two loans availed by the petitioner, the total outstanding amount as on 18.3.2023 are Rs.10,14,924/- and Rs.13,31,772/- respectively.

Having heard the learned counsel for the petitioner and the learned counsel appearing for the respondent Bank, this writ petition will stand disposed of directing that, if the petitioner submits an application for One Time Settlement under the terms of the 2023-Scheme, before 5 P.M. on 22.3.2023, a competent authority of the respondent Bank shall take a decision on such application and shall inform the petitioner the amount to be remitted by the petitioner in terms of the said Scheme. On the petitioner being intimated about the amounts to be paid, the petitioner shall do so in compliance with the provisions of the Scheme.