IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 22ND OCTOBER 2008 / 30TH ASWINA 1930 WP(C).No. 30756 of 2008(J) ------------------------------------ PETITIONER(S): ----------------------- RAMACHANDRAN, S/O. RAGHAVAN, KARAYIL HOUSE, KAIPAMANGALAM VILLAGE, KAIPAMANGALAM P.O., KODUNGALLUR TALUK, THRISSUR DISTRICT. BY ADV. SRI.V.M.KRISHNAKUMAR RESPONDENT(S): ------------------------- 1. THE SPECIAL SALE OFFICER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD., THIRUVAMPADI, THRISSUR 2. THE GENERAL MANAGER, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD., REPRESENTED BY ITS SECRETARY, KURUPPAM ROAD, THRISSUR. 3. THE BRANCH MANAGER, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD., PERIJJANAM, PERINJANAM P.O. BY GOVERNMENT PLEADER SRI. K.C.SANTHOSH KUMAR SRI.P.R.SASIDHARAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J ================== W.P(C)No.30756 of 2008 ================== Dated this the 22nd day of October, 2008. J U D G M E N T The petitioner is aggrieved by Ext.P1 proceedings for sale of the petitioners property for recovery of amounts due under a loan taken from the Thrissur District Co-opertive Bank, as per an award in proceedings under Section 69 of the Kerala Co- operative Societies Act. The petitioner's contention is that the petitioner is entitled to reduction in interest as per Ext.P2 Government Circular. 2. The learned Standing Counsel appearing for the respondents oppose the prayers. According to him, after the award is passed under Section 69, the petitioner cannot claim reduction in interest. The only remedy of the petitioner is to file an appeal against the award. The period for filing appeal is also over, since this is a 1998 loan and arbitration award was passed in 2001, is the contention raised by the Counsel for the respondents. 3. I am satisfied that the petitioner cannot now claim the relief prayed for, in so far as the arbitration award has become final. In view of the above circumstances, the petitioner seeks W.P(C)No.30756 of 2008 - 2 - permission to pay off the amounts in instalments. This is also opposed by the Counsel for the respondents, who would submit that being a loan of 1998, there is no justification in permitting the petitioner to pay the amounts in instalments. 4.Having heard both sides, I feel that some more leniency can be shown to the petitioner in the matter of payment of the amounts in instalments. Accordingly, I direct the respondents to permit the petitioner to pay off the amounts due as per Ext.P1, with future interest, in seven equal monthly instalments starting from 15.11.2008. Every subsequent instalment shall be paid on the first working day of after 14th of every succeeding month, till the entire amount is paid off. If the petitioner pays the instalments in time as directed above, the sale contemplated under EXt.P1 shall be adjourned. However, if the petitioner commits default in payment of any one of the instalments, it would be open to the respondents to continue proceedings as per Ext.P1, without having to issue any fresh notice or proceedings in that regard. This writ petition is disposed of as above. S.SIRI JAGAN, JUDGE rhs