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Judgment
Justice Kurian Joseph, C.J.—The writ petition is filed with the following prayers: i) To issue the writ especially in the nature of cericero thereby quashing the action of the respondents in issuing the warrant of arrest and calling upon the petitioner to pay Rs. 42521/- together with Rs. 42521/- for the cost of execution which stands already paid.
ii) To issue the writ especially in the nature of mandamus thereby giving direction to the respondents to reschedule the account of the petitioner after applying simple interest at a reasonable rate and to refund the excess amount.
iii) That the respondents may be directed to apply a reasonable rate of interest instead of 13% PA whatever this Hon''ble Court deem just and reasonable.
Having regard to the facts as stated in the writ petition, we are of the view that before initiating coercive steps against the petitioner, opportunity should have been given by the third respondent to the petitioner. Therefore, this writ petition is disposed of as follows:
In case the matter has not been settled so far, the petitioner may appear before the third respondent at 2.00 P.M. on 10.4.2012. Thereafter, an opportunity shall be given to the petitioner to verify the accounts. After such verification, steps shall be taken by the third respondent to settle the dispute finally, by permitting the permissible adjustments. In view of the above direction, Annexure P-4 is quashed. However, it is made clear that in case the petitioner or his authorised officer does not cooperate as above, it will be open to the third respondent to revive the coercive steps. Pending application (s), if any, also stands disposed of.