IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 27TH MAY 2008 / 6TH JYAISHTA 1930 WP(C).No. 15539 of 2008(Y) ----------------------------------------- PETITIONER: -------------------- P.S. CHANDRAN, S/O.PERUMPILLY SANKARAN, PERUMPILLY HOUSE, OLLUR (PO), THRISSUR DISTRICT. BY ADV. SRI.C.E.UNNIKRISHNAN SRI.V.G.ARUN RESPONDENTS: ------------------------- 1. COCHIN CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD. NO.329, CIVIL LANE ROAD, THRISSUR-4, REPRESENTED BY ITS SECRETARY. 2. SPECIAL SALE OFFICER, COCHIN CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD.NO.329, CIVIL LANE ROAD, THRISSUR-4. R1 BY ADV. SRI. V.G. ARUN R2 BY GOVERNMENT PLEADER SMT. ANU SIVARAMAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.15539 of 2008-Y = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 27th day of May, 2008. JUDGMENT 1.The petitioner availed a loan from the first respondent, stated to be for the purpose of running an establishment in metal fabrication in a small scale manner. That failed. Recovery steps have been initiated on account of the failure to repay the loan. That has reached the stage of sale. 2.The learned counsel for the petitioner fairly submits that the petitioner gives up all contentions challenging the quantum fixed for recovery, the mode of recovery, the jurisdiction to recover and also other incidental aspects and confines his submission to a request that the sale may be deferred by five months to enable the WP(C)15539/2008 -: 2 :- petitioner to wipe off the entire outstandings since his wife, who was recently retired from service, is due to get her retiral benefits which could be paid to wipe off the entire outstandings. 3.Under the aforesaid circumstances, it is directed that the impugned recovery proceedings will stand deferred by five months and to show the bona fide, the petitioner will deposit at the rate of Rs.10,000/- per month payable on or before the 15th of every month commencing from June, 2006. If the entire outstandings are not wiped off within five months or if there is default in remitting any of the instalments as afore-directed, the benefits of this judgment shall stand recalled automatically and the bank will be at liberty to forthwith proceed with the distress action. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/310508