IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 7TH OCTOBER 2009 / 15TH ASWINA 1931 WP(C).No. 28220 of 2009(V) -------------------------- PETITIONER(S): ----------------------- PAUL P.MATHEW, PLAKATTU HOUSE, KARIKATTOOR PO, MANIMALA. BY ADV. SRI.V.C.JAMES SRI.GEORGE MECHERIL RESPONDENT(S): ------------------------- 1. THE JOINT REGISTRAR(GENERAL) OF CO-OPERA TIVE SOCIETIES, KOTTAYAM. 2. THE SALE OFFICER, MEENACHIL CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD, NO.K.197, PALA. 3. THE SECRETARY, MEENACHIL CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD, NO.K.197, PALA. 4. RESERVE BANK OF INDIA,REP.BY REGIONAL MANAGER, THIRUVANANTHAPURAM. BY ADV. SRI.SUNIL CYRIAC,SC,MEENACHIL CO-OP.ARD FOR R3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/10/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J ............................................... W.P(C) No. 28220 of 2009 ................................................. Dated this the 7th day of October, 2009 J U D G M E N T The petitioner is a defaulter in repayment of loan amounts due to the 3rd respondent Co-operative bank. The bank has initiated coercive proceedings for recovery of the same by bringing the property, mortgaged as security for repayment of the loans, to sale. The petitioner is aggrieved by the same. According to the petitioner, the property is worth more than Rs.75 lakhs and therefore it is unjust to sell the properties for Rs.4,13,440/- which is the amount mentioned in Ext.P5. The petitioner therefore seeks the following reliefs: “to issue a writ of certiorari or such other appropriate writ order or direction in order to call up the records and proceedings leading upto Ext.P5 and quash the same; ii) to declare that for recovering Rs.4,13,440.00 property having an extent of 1,3157 hectares and worth more than rupees 75 lakhs need not be sold and only a lesser extent worth Rs.4,13,440.00 need only be sold on public auction; iii) to issue a further declaration that all the four loans are covered by the agriculturists' loan waiver Scheme issued by the Central Government as per Ext.P7; iv) to issue a writ of mandamus or such other W.P(C) No. 28220 of 2009 -2- appropriate writ order or direction compelling respondents to refrain from conducting the sale of 1,3167 hectares of property comprised in Sy.No.419/2 of Manimala Village for the recovery of comparatively lesser amount of Rs.4,13,440/- v) to stay all further proceedings in pursuant to Ext.P5 till the disposal of the Writ Petition;” 2. The Government Pleader appears for the 1st respondent and Adv. Sunil Cyriac appears for respondents 2 and 3. Since the 4th respondent is an unnecessary party, I do not think it necessary to issue notice to the 4th respondent. The counsel for the 3rd respondent submits that the arrears is in respect of four loans taken by the petitioner and the total amounts due is approximately Rs.6,05,000/-. However, the bank is prepared to regularise the loan accounts, if the petitioner pays off the defaulted arrears by the end of this financial year which amount would come to around Rs.3,25,000/- and to allow the petitioner to continue to pay the installments of repayment of the loan amounts in accordance with the loan agreements on the due dates. The proposal put forward by the 3rd respondent is that if the petitioner pays approximately Rs.60,000/- every month along with the installments of repayment of loans, then by March 2010, the defaulted arrears would be wiped off and the petitioners can W.P(C) No. 28220 of 2009 -3- thereafter continue to pay the installments of repayments of the loan amounts as per the loan agreement on the due dates. 3. The said course of action is agreeable to the petitioner. Accordingly, the writ petition is disposed of with the following directions: 4. The petitioner shall pay the defaulted arrears in equal monthly installments along with the installment due each month in accordance with the loan agreement starting from 30.10.2009 so that by 31.3.2010 the entire arrears would be wiped off and the loan accounts would be regularised. The petitioner shall continue to pay the installments of repayment of loan amounts on the due dates as per the loan agreement from April 2000 onwards. The 3rd respondent shall issue a communication to the petitioner within ten days specifying the amounts the petitioner has to pay every month from 30.10.2009 onwards for regularising the loan accounts and the petitioner shall pay the amounts as directed by the 3rd respondent. If the petitioner pays the amounts as directed above without default on due dates, further proceedings pursuant to Ext.P5 shall be kept in abeyance. However, if the petitioner commits default in payment W.P(C) No. 28220 of 2009 -4- of any amounts, it would be open to the respondents 1 to 3 to continue proceedings in accordance with Ext.P5 without having to issue any fresh notice or proceedings in that regard. The writ petition is disposed of as above. S. SIRI JAGAN, JUDGE rhs