IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 10TH FEBRUARY 2009 / 21ST MAGHA 1930 WP(C).No. 4295 of 2009(J) ------------------------------------ PETITIONER(S): ---------------------- K.N. VELAYUDHAN, S/O. NEELAN, AGED 56 YEARS, KOYILATH HOUSE, MANKURISSI, MANKARA, PALAKKAD DIST. BY ADV. SRI.RAJESH SIVARAMANKUTTY RESPONDENT(S): ------------------------- 1. THE PALAKKAD PRIMARY CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD., NO.F 1029, PALAKKAD -14, REPRESENTED BY ITS SECRETARY. 2. JUNIOR INSPECTOR-CUM-SPECIAL SALE OFFICER, THE PALAKKAD PRIMARY CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD.NO.F 1029, PALAKKAD -14. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) No.4295 of 2009-U ---------------------------------------------- Dated, this the 10th day of February, 2009 J U D G M E N T Having regard to the nature of direction issued hereunder notice to respondents is dispensed with without prejudice to their right to review this judgment. 2. Petitioner availed a loan from the first respondent. On account of failure to repay, the first respondent initiated proceedings under the Kerala State Co-operative Agricultural and Rural Development Act. That has led to E.P.No.39/2003 in which on 12.1.2009 Ext.P2 has been issued listing an item of property for sale on 20.2.2009 for recovery of an amount of Rs.3,62,629/-. Petitioner states, that, when he went to the Bank on 5.1.2009 to pay Rs.5,000/- that was not received by the Bank. Petitioner availed the facility of Rs.2 lakhs in 2001 for his activity in connection with manufacturing clay, bricks. 3. I do not find any ground to issue an interim order but to direct that if the petitioner deposits an amount of Rs.50,000/- (Rupees fifty thousand only) at or before the time fixed for sale, the respondent will defer the sale to enable the petitioner to pay off the entire remaining WPC No.4295/2009 -2- amount in four equal further monthly instalments. The repayment schedule would be fixed by the second respondent. If there is failure to remit any of the instalments as directed above, the benefit of this judgment will stand recalled automatically. THOTTATHIL B.RADHAKRISHNAN, JUDGE MS