The petitioners are aggrieved with the non disbursal of relief under Ext.P1 Scheme. The Debt Relief and Debt Waiver Scheme of 2008 was specifically intended at granting relief to short term loans and investment loans. The short term loans, as per the definition in Ext.P1 Scheme, are loans which have a repayment period of 18 months. 2. The petitioners had each availed of two ordinary loans for Rs.25,000/- from the Bank on 06.11.2002 and 20.01.2003 with repayment period of 36 months. The specific contention raised by the respondent Bank in its counter affidavit is that, the loans granted were personal loans and not agricultural loans. There is nothing to refute such contention. It is also WP(C).22706/08 2 evident that the petitioners have not approached the Redressal Mechanism provided under Ext.P1 Scheme. The District Co-operative Bank and NABARD being the implementation agencies, have also not been impleaded herein. In such circumstances, the writ petition is devoid of merit.
3. However, considering the fact that the writ petition has been pending before this Court from 2008 onwards and also considering the submission of the learned counsel appearing for the respondent Bank that there is remaining due an amount of Rs.58,728/- and 56,728/- respectively in each of the loan accounts of the petitioners, it is directed that the recovery shall be kept in abeyance on condition of the petitioners settling the entire loan in ten equal monthly instalments. The petitioners shall produce a certified copy of this judgment before WP(C).22706/08 3 the respondent Bank within two weeks of its receipt. The 1st instalment shall be paid on or before 01.01.2015 and thereafter; the due date of instalments falling on the 1st of each succeeding month. If default is committed in two consecutive instalments, then the recovery proceedings shall be revived and continued. On the satisfaction of the dues, the Bank shall give a statement of the future interest from 30.12.2014 and the same shall be settled as the 11th instalment.
The writ petition stands disposed of, leaving the parties to suffer their respective costs.
Sd/-
K.VINOD CHANDRAN Judge Mrcs //True Copy//