IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN THURSDAY, THE 17TH FEBRUARY 2011 / 28TH MAGHA 1932 WP(C).No. 22118 of 2010(L) ---------------------------------------- PETITIONER(S): -------------------------- C.O.THOMAS, AGED 60 YEARS, S/O.ULAHANNAN, KUNNATHOLIL HOUSE, VAKKALA, ELAVAMPADAM P.O., KIZAKKANCHERY, ALATHUR VILLAGE, PALAGHAT DISTRICT. BY ADVS. SMT.JEENA JOSEPH, SRI.G.D.PANICKER. RESPONDENT(S): --------------------------- 1. THE ALATHUR PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.P 620, VADAKKANCHERY BRANCH, PALAGHAT DISTRICT-678 683, REPRESENTED BY THE BRANCH MANAGER. 2. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, PALAGHAT DISTRICT-678 014. R1 BY ADV. SRI.P.K.VIJAYAMOHANAN R2 BY GOVERNMENT PLEADER SRI. P.M.MANOJ THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 17/02/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.22118/2010 L APPENDIX PETITIONER'S EXHIBITS: P1: COPY OFTHE PASSBOOK ISSUED BY THE RESPONDENT BANK. P2: COPY OF THE AUCTION NOTICE ISSUED BY THE BANK TO THE PETITIONER. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss P.N.RAVINDRAN, J ........................................... WP(C).NO. 22118 OF 2010 ............................................ DATED THIS THE 17TH DAY OF FEBRUARY, 2011 JUDGMENT The petitioner had availed a loan from the first respondent bank. When he defaulted repayment of the loan, the Manager of the branch issued Ext.P2 notice calling upon him to pay the amount in arrears which was stated to be Rs.1,71,864/-. This writ petition was thereupon filed challenging Ext.P2 and seeking a direction to the respondents not to proceed with the sale of the security. 2. A counter affidavit has been filed on behalf of the first respondent bank wherein it is stated that the petitioner had committed default in repayment of two loans availed by him. It is also stated that as on 31.7.2010, the amount overdue in the loan account of the petitioner was Rs.1,78,565/-. During the course of arguments, the learned counsel appearing for the petitioner brought to my notice that a One Time Settlement Scheme introduced as per Circular No.63 of 2010 is presently in force in the first respondent bank. A copy of the said circular was also Wpc 22118/2010 2 made available to me for perusal. As per the said circular, the One Time Settlement Scheme is in force till 28.2.2011. The conditions subject to which benefits will be given are also set out therein. In such circumstances, as the bank has only demanded payment of the amounts overdue in the loan accounts and has not taken steps for sale of the security, I am of the opinion that petitioner should approach the first respondent bank and claim the benefit of Circular No.63 of 2010, instead of seeking the intervention of this Court. 3. I accordingly dispose of this writ petition with a direction that in the event of the petitioner depositing with the first respondent the sum of Rs.25,000/-, claiming the benefit of Circular No.63 of 2010 dated 23.12.2010 issued by the Registrar of Co-operative Societies and submitting a representation before the Secretary of the first respondent bank within one week from today, the first respondent bank shall consider the said representation and extend to the petitioner the benefits thereunder if the petitioner is willing to settle the loan account in terms of the said circular. The first respondent bank shall, in the event of the petitioner depositing the money as directed above Wpc 22118/2010 3 and submitting a representation, pass orders in the matter expeditiously and in any event, before 28.2.2011. P.N.RAVINDRAN, JUDGE lgk