IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 18TH FEBRUARY 2008 / 29TH MAGHA 1929 WP(C).No. 5630 of 2008(T) ------------------------- PETITIONER: ------------- ROSILY POLY,W/O. P.P.POLY ALAPPATTU VEETIL,EZHATTUMUGHAM (PO) BY ADV. SRI.C.E.UNNIKRISHNAN RESPONDENTS: ---------------- 1. REGISTAR OF CO-OPERATIVE SOCIETIES THIRUVANANTHAPURAM. 2. THE PARAVUR CO-OPERATIVE BANK LTD. NO. 1 759 NORTH PARAVUR 683 513 REPRESENTED BY ITS SECRETARY. 3. SPECIAL SALE OFFICER/ARBITRATOR THE PARAVUR CO-OPERATIVE BANK LTD. NO.1759 GROUP OFFICE OF THE ASSISTANT REGISTRAR (GENERAL) NORTH PARUR. 4. DILEEP.N.V.,S/O. VELAYUDHAN, MOOLAYIL VEEDU MANNOM-PERUVARAM ROAD, MANNOM (PO) N.PSARAUR. R1 & R3 BY SENIOR GOVT. PLEADER, SMT.ANU SIVARAMAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/02/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------- W.P(C) No. 5630 OF 2008 ----------------------------------- Dated this the 18th day of February, 2008 JUDGMENT Learned Senior Government Pleader appears for respondents 1 and 3. Notices to respondents 2 and 4 are dispensed with, having regard to the nature of the directions to be issued herein, preserving their right to move for review if the judgment is against them. 2. The petitioner allegedly stood as surety and offered her property as security for a loan availed by the 4th respondent. The transaction is not in dispute. The arbitration award has also become final. Therefore, the impugned recovery proceedings cannot be challenged. However, following the listing of the sale for Rs.1,94,000/- as on 18.12.07, an amount of Rs.1 lakh has been remitted as evidenced by Ext.P2. Under such circumstances, this writ petition is disposed of directing that if the petitioner remits the remaining outstandings in five equal monthly instalments, payable on or before the last working day of every month commencing from February 2008, the recovery proceedings WPC No. 5630 OF 2008 2 shall be dropped. In case of default of remittance of any of the instalments as directed above, the benefit of this judgment will stand recalled automatically. After remitting two instalments, if the petitioner applies for any reduction in the total outstandings on the basis of any circulars which may be in force, respondents 2 and 3 will consider extending such benefit as may be available in accordance with law. THOTTATHIL B. RADHAKRISHNAN, JUDGE ttb WPC No. 5630 OF 2008 3