IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.T.RAVIKUMAR TUESDAY, THE 21ST DECEMBER 2010 / 30TH AGRAHAYANA 1932 WP(C).No. 37553 of 2010(T) ---------------------------------- PETITIONER(S): ------------------- RAJAN, S/O.THOMAS AGED 45 YEARS, VETTUKUZHIYIL CHOTTUPARA P.O. BY ADVS. SRI.K.S.HARIHARAPUTHRAN SRI.M.D.SASIKUMARAN SRI.GEORGE MATHEW SRI.DIPU JAMES SMT.K.V.RAMYA RESPONDENT(S): -------------------- 1. STATE OF KRALA,REP.BY REGISTRAR OF CO-OPERATIVE SOCIETIES, (GENERAL), THIRUVANANTHAPURAM -01. 2. KERALA STATE CO-OPERATIVE GRICULTURAL LAND DEVELOPMENT BANK LTD., REPRESENTED BY ITS MANAGING DIECTOR, STATUE, THIRUVANANTHAPURAM.1. 3. THE REGIONAL MANGER, KERALA STATE CO-OPERATIVE LAND AGRICULTURAL DEVELOPMENT BANK LTD., REGIONAL OFFICE, CHERUTHONI, IDUKKI 4. SPECIAL SALE OFFICER, PEERMEDU TALUK CO-OPERATIVE AGRICULTURAL LAND DEVELOPMENT BANK, ELAPARA P.O., IDUKKI - 685501. 5. PEERMEDU TALUK CO-OPERATIVE AGRICULTURAL LAND DEVELOPMENT BANK, ELAPPARA P.O., IDUKKI - 685501. R1 BY GOVT.PLEADER SRI.BASANT BALAJI R4 & R5 BY ADV. SRI.JOICE GEORGE, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs C.T. RAVIKUMAR, J - - - - - - - - - - - - -- - - - - - - - - - - - - - - - W.P.(C)No. 37553 OF 2010 - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 21st day of December, 2010 J U D G M E N T The petitioner has availed a loan from the 5th respondent. On account of default on the part of the petitioner to effect prompt re-payment towards the said loan account the 5th respondent has taken steps to proceed against the secured property. As part of such action the petitioner was served with Ext.P1 demand notice dated 19.6.2009. As on the said date an amount of Rs.1,29,302/- was outstanding as arrears towards the said loan account. It is apprehending further coercive steps that this writ petition has been filed. 2. I have heard the learned counsel for the petitioner and also the learned Standing Counsel for the respondents 4 and 5. The learned Standing Counsel submitted that as on today an amount of Rs.2,90,815/- is outstanding towards the loan account. It is further submitted that the petitioner is liable to pay the interest accrued thereon till the date of closing of the account. The learned counsel appearing for the petitioner submitted that the petitioner will discharge the WPC.No.37553/2010 : 2 : entire liability on or before 31.3.2011. In view of the above submissions made on behalf of the petitioner and also the learned Standing Counsel appearing for the 5th respondent, this writ petition is disposed of as hereunder: The petitioner shall pay an amount of Rs.50,000/- on or before 31.12.2010 towards the aforesaid loan account. Thereafter, the petitioner shall discharge the entire liability due to the 5th respondent on or before 31.3.2011. Till such time, the 5th respondent shall keep in abeyance all coercive steps, in case, the petitioner pays an amount of Rs.50,000/- on or before 31.12.2010. In case of failure on the part of the petitioner to make payments in terms of the above directions it will be open to the 5th respondent to proceed against the petitioner in accordance with law. Sd/- (C.T. RAVIKUMAR, JUDGE) jma //true copy// P.A to Judge