IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOMAS P.JOSEPH WEDNESDAY, THE 21ST DECEMBER 2011 / 30TH AGRAHAYANA 1933 OP(C).No. 1206 of 2011(O) ---------------------------------- EP.99/2008 of SUB COURT, HOSDRUG ..................................................................... PETITIONER : -------------------- M.BHASKARAN, S/O.CHIRUTHA, PEELIKODE AMSOM, ARAYAKKIL DESOM, HOSDURG, KASARAGOD DISTRICT. BY ADV. SRI.JOSE J.MATHEIKAL RESPONDENTS : ------------------------ 1. THE KERALA CO-OPERATIVE TRIBUNAL, THIRUVANANTHAPURAM, REPRESENTED BY ITS SECRETARY, PIN - 695 001. 2. THE ASSISTANT REGISTRAR (GENERAL) OF CO-OPERATIVE SOCIETIES, HOSDURG, KASARGOD DISTRICT (ARBITRTOR), PIN - 671 121. 3. THE NEELESWAROM BLOCK HOUSING CO-OPERATIVE SOCIETY LTD NO C 833, NEELESWAROM P.O, KASARGOD DISTRICT REPRESENTED BY ITS SECRETARY, PIN - 671 121. R3 BY ADV. SRI.GRASHIOUS KURIAKOSE THIS OP (CIVIL) HAVING BEEN FINALLY HEARD ON 21/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: RKM -2- OP(C).No. 1206 of 2011(O) APPENDIX PETITIONER'S EXHIBITS : P1 : COPY OF PASSBOOK. P2 : COPY OF AWARD DATED 29.12.2007 OF ARBITRATOR. P3 : COPY OF ORDER DATED 28.01.2011 OF TRIBUNAL. P4 : COPY OF PROCEEDINGS IN E.P.99/2008 DATED 03.02.2011 OF SUB COURT, HOSDURG. P5 : COPY OF THE PROCEEDINGS ON THE EXECUTION COURT. RESPONDENT'S EXHIBITS : NIL /TRUE COPY/ PA TO JUDGE RKM THOMAS P. JOSEPH, J. ---------------------------------------- O.P(C).No.1206 of 2011 --------------------------------------- Dated this 21st day of December, 2011 JUDGMENT Petitioner availed a loan from the third respondent, a Co- operative Society and defaulted payment. Second respondent initiated proceeding against petitioner and that resulted in Ext.P2, award against petitioner. Petitioner challenged that order before the Kerala Co-operative Tribunal, Thiruvananthapuram (for short, "the Tribunal”). The Tribunal passed Ext.P3, order on 28.01.2011 as per which the award was modified and third respondent was allowed to realise `.2,54,405/- with interest @12% per annum on the sum of `.2,52,905/- and cost. Petitioner was permitted to pay the amount in installments of `.30,000/- per month with a rider that in default of two consecutive installments, third respondent can realise the entire amount. Third respondent filed E.P.No.99 of 2008 before learned Sub Judge, Hosdurg for recovery of the amount. Property of petitioner is being proceeded against. Hence this original petition. 2. Learned counsel for respondent submits that Ext.P3, order has become final and that petitioner may be permitted to O.P(C).No.1206 of 2011 -: 2 :- pay the amount in installments as stated therein. I have heard learned counsel for third respondent also. 3. There was an interim order passed by this Court on 25.03.2011 granting stay of proceedings in execution on condition that petitioner deposits `.35,000/- within two weeks from 25.03.2011. It is submitted that the said amount is not deposited. Having regard to the circumstances stated, I am inclined to permit petitioner pay the amount due in the manner stated in Ext.P3 but subject to condition. This original petition is disposed of as follows: (i) Petitioner shall pay/deposit in the executing court for payment to the third respondent `.50,000/- (Rupees Fifty Thousand Only) on or before 21.01.2012. (ii) Petitioner is permitted to pay/deposit the balance amount due as per Ext.P3, order in installments @`.30,000/- (Rupees Thirty Thousand Only) beginning from 21.02.2012. (iii) Payment/deposit referred in clause (ii) above, shall be made on or before the 25th of every month and in case that day happens to be a holiday, payment/deposit shall be made on the next working day. (iv) In case there is default in payment/deposit of `.50,000/- stated in clause (i) O.P(C).No.1206 of 2011 -: 3 :- above or default in payment/deposit stated in clause (ii) for any two consecutive installments, third respondent can continue with the execution proceeding for realisation of the entire balance amount. (v) Petitioner shall file affidavit in the executing court (if by this time it has not become necessary to issue a fresh proclamation for sale) waiving fresh proclamation for sale within two weeks from this day. (vi) It is directed that execution proceeding will stand in abeyance during the above stated period or default in payment/deposit as aforesaid is committed, whichever is earlier. (THOMAS P. JOSEPH, JUDGE) Sbna/-