IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE M.SASIDHARAN NAMBIAR THURSDAY, THE 14TH AUGUST 2008 / 23RD SRAVANA 1930 WP(C).No. 23256 of 2008(R) -------------------------- OS.81/2004 OF PRINCIPAL SUB COURT,KOCHI .................... PETITIONERS: --------------- 1. M/S.PARKSON ESTATES & INDUSTRIES 24/1488,PLOT NO.14, WILLINGDON ISLAND KOCHI-682003-REPRESENTED BY ITS MANAGING PARTNER SHRI.VARGHESE P. MATHEW. 2. VARGHESE P. MATHEW S/O. P.V.MATHEW 24/1488,PLOT NO.14, WILLINGDON ISLAND KOCHI 682 003. BY ADV. SRI.K.MOHANAKANNAN SMT.A.R.PRAVITHA SMT.M.A.ZOHRA RESPONDENT: --------------- M/S.ACHUTHAN PILLAI & CO.SHIPPING & CLEARING AGENTS, P.B.NO. 507, WILLINGDON ISLAND, KOCHI-682003, REPRESENTED BY ITS MANAGING PARTNER. BY ADV. SRI.K.N.SIVASANKARAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 14/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C)23256/08 APPENDIX PETITIONERS’ EXHIBITS:- EXT.P1:- TRUE COPY OF THE AWARD PASSED BY THE LOK ADALATH ON 30.10.2004 EXT.P2:- TRUE COPY OF THE EXECUTION PETITION E.P.59/06 IN O.S.81/04 ON THE FILE OF SUB COURT, KOCHI. EXT.P3:- TRUE COPY OF THE MEMO ISSUED BY THE RESPONDENT’S ADVOCATE ON 27.6.2008 EXT.P4:- TRUE COPY OF THE PLAINT IN O.S.44/07 FILED ON 19.3.07 ON THE FILE OF SUB COURT, KOCHI EXT.P5:- TRUE COPY OF THE APPLICATION TO REVIEW THE ORDER FILED ON 20.6.2008 AS E.A. IN E.P.59/06 IN O.S.81/04 ON THE FILE OF SUB COURT, KOCHI EXT.P6:- TRUE COPY OF THE COUNTER AFFIDAVIT FILED BY THE RESPONDENTS ON 30.7.2008 IN E.A. IN E.P.59/06 IN O.S.81/04 EXT.P7:- TRUE COPY OF THE DEMAND DRAFT ISSUED BY THE VIJAYA BANK, WELLINGDON ISLAND FOR RS.50,000/- IN FAVOUR OF THE RESPONDENT COMPANY EXT.P8:- TRUE COPY OF THE ACKNOWLEDGEMENT RECEIPT GIVEN BY THE RESPONDENT’S COUNSEL ON 30.7.2008 RESPONDENT’S EXHIBITS:- NIL OKB/- //TRUE COPY// P.A. TO JUDGE WP(C)23256 OF 2008 OR DER ON I.A.10589 OF 2008 IN WP(C)23256 OF 2008 DISMISSED 14.8.2008 SD/- M. SASIDHARAN NAMBIAR, JUDGE. Okb/- /TRUE COPY/ P.A. TO JUDGE M. SASIDHARAN NAMBIAR, J. ------------------------------------------ W.P.(C) NO. 23256 OF 2008 ------------------------------------------ Dated this the 14th day of August, 2008 JUDGMENT This petition is filed under Article 227 of Constitution of India challenging the order of arrest passed by Sub Court, Kochi in E.P.59 of 2006 in execution of O.S. 81 of 2004. 2. Learned counsel appearing for petitioner and respondent/decree holder were heard. 3. Learned counsel appearing for petitioner submitted that petitioner is not disputing his means to pay the decree debt and because of the action taken under the Securitisation Act, petitioner could not pay the decree debt and he may be permitted to pay the entire decree debt in three equal monthly instalments within a period of three months. Learned counsel appearing for respondent opposed the prayer, but submitted that if a default clause is provided it can be permitted. Writ petition is therefore disposed of directing the executing Court to keep the order of arrest in abeyance for three months. Petitioner is permitted to pay the entire decree debt in three equal monthly instalments. The first instalment will fall due on WP(C)23256/08 2 1.9.2008 and the next two instalments on the first of October and November. By the third instalment the entire decree debt shall be paid. If the petitioner commits default in payment of any one of the instalments, executing Court to implement the warrant of arrest. Writ petition is disposed of accordingly. M. SASIDHARAN NAMBIAR, JUDGE Okb/-