IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 15TH JANUARY 2009 / 25TH POUSHA 1930 WP(C).No. 1038 of 2009(W) ------------------------------------- PETITIONER: ------------------- K.CHANDRA KUMAR, T.C. 9/839, V.J.LANE, SASTHAMANGALAM P.O., THIRUVANANTHAPURAM. BY ADV. SRI.B.S.SWATHY KUMAR. RESPONDENTS: ------------------------ 1. KERALA STATE CO-OPERATIVE BANK LTD., STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR. 2. THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK, KAITHAMUKKU BRANCH, THIRUVANANTHAPURAM. 3. THE AUTHORISED OFFICER, REGIONAL MANAGER-IN-CHARGE, KERALA STATE CO-OPERATIVE BANK LTD., THIRUVANANTHAPURAM REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVERBRIDGE JUNCTION, THIRUVANANTHAPURAM. R1 TO R3 BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP. BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/01/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.1038 of 2009-W = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 15th day of January, 2009. JUDGMENT The petitioner availed a mortgage loan from the first respondent with the repayment period of 60 months. That term is due to expire by July, 2009. The defaulted outstandings have accrued on account of failure to pay all the instalments promptly. Ext.P1 reflects that certain payments have been made and the petitioner had been vigilant, at least, at some time during the course of the account to make payments in time. Learned counsel for the petitioner states that his client would be capable of paying off the entire outstandings within the period of the loan which is due to end in July, 2009, the exact date being 21-7-2009, as pointed out by the learned counsel for the respondents. Taking that into consideration and repelling all other WP(C)1038/2009 -: 2 :- contentions, this writ petition is ordered directing that if the petitioner remits an amount of Rs.1 lac within one month and remits the remaining amounts in equal instalments payable on or before the 20th of February, March, April, May, June and July, 2009, the impugned distress action will stand deferred and ultimately dropped. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the respondents to forthwith proceed with the impugned distress action, without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/160109