IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN FRIDAY, THE 21ST MAY 2010 / 31ST VAISAKHA 1932 WP(C).No. 4392 of 2010(Y) --------------------------------------- PETITIONER(S): ------------------------ JANAKI, AGED 66 YEARS, W/O.LATE THUPPAYIL CHOVVATHIL NARENDRAN, RAYIAMANGALAM AMSOM AND DESOM, P.O.TANUR, TIRUR TALUK, MALAPPURAM DISTRICT. BY ADVS SRI.R.SUDHISH, SMT.M.MANJU. RESPONDENT(S): --------------------------- 1. THE JOINT REGISTRAR (GENERAL), CO-OPERATIVE SOCIETIES, MALAPPURAM. 2. THE SECRETARY, PARAPPANANGADI REGIONAL HOUSING CO-OP.SOCIETY LTD. PARAPPANANGADI, MALAPPURAM DISTRICT. 3. THE SPECIAL SALE OFFICER, PARAPPANANGADI REGIONAL HOUSING CO-OP.SOCIETY LTD. PARAPPANANGADI, MALAPPURAM DISTRICT. R2 BY ADV. SRI.V.RAJENDRAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 21/05/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.4392/2010 Y APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE E.P.NO.5/2009 IN ARC NO.174/2000 OF SUB COURT, TIRUR. P2: COPY OF THE OBJECTION FILED BY THE PETITIONER IN THE E.P. TO THE 2ND PETITIONER. P3: COPY OF THE REPRESENTATION SENT BY THE PETITIONER TO THE CHIEF MINISTER AND MINISTER FOR CO-OP.SOCIETIES. P4: COPY OF THE LETTER DTD. 16/09/2009 SENT BY THE 1ST RESPONDENT TO THE 2ND RESPONDENT. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss K.SURENDRA MOHAN, J. ---------------------- W.P.(C) No.4392 OF 2010 --------------------------- Dated this the 21st day of May, 2010 J U D G M E N T ~~~~~~~~~~~ The petitioner is the wife of Sri. T.C.Narendran, who had availed a loan of Rs.1,50,000/- from the 2nd respondent Bank in the year 1998. As security for the loan, the petitioner's husband mortgaged an extent of 22.5 cents of land comprised in Re-survey No.172/7 of Tirur Taluk, Malappuram District. The petitioner's husband was repaying the loan till 2001. But, thereafter, defaulted payments for the reason that he became afflicted with heart disease and was not in a position to work. Subsequently, he died in March 2002 due to a heart attack. 2. Since there was default in repayment of the loan, the Bank initiated arbitration proceedings for recovery of the amount due. ARC.No.174/2000 was filed and an award was obtained by the Bank . Thereafter, Ext.P1 execution petition was filed before the Sub Court, Tirur for execution of the award obtained by the bank. The execution proceedings have progressed considerably, the petitioner's property has been brought to sale and is directed to be sold in auction on 24.5.2010. W.P.(C) No.4392/2010 2 3. It is pointed out by the learned counsel for the petitioner that the calculation made in Ext.P1 execution petition is wrong for the reason that interest has been calculated upon interest while computing the total amount after giving credit for the payments made. Therefore, the recovery proceedings have progressed on the basis of a calculation statement, that is wrong, it is pointed out. 4. Adv. V.Rajendran, who appears for the 2nd respondent, points out that none of the objections raised in this Writ Petition are raised before the Execution Court by the petitioner. The execution proceedings have progressed on the assumption, if figures shown in Ext.P1 are correct. Therefore, it is submitted that the petitioner should not be permitted to raise the present objection at this length of time. 5. A perusal of Ext.P1 shows that the payments made by the petitioner have been credited by deducting the same from the total amount shown therein. The total amount includes both the principal and interest. After giving due credit for the W.P.(C) No.4392/2010 3 payments made, interest has been calculated on the balance amount remaining. Therefore, there appears to be some substance in the objection raised on behalf of the petitioner that interest has been calculated on interest. For the above reasons, it appears that this is a matter which requires to be examined. The petitioner may move the Execution Court for the above purpose, if so advised. 6. Since the property of the petitioner is posted for sale on 24.5.2010, the petitioner prays for an opportunity to save her property from being sold. It is contended that she is willing to pay all the amounts due to the bank, provided a breathing time is given. In the circumstances of the case, I feel that an opportunity to save her property can be given to the petitioner, However, such an opportunity can be granted only on her making a substantial payment towards the decree debt, in order to show her bonafides. This Writ Petition is accordingly disposed of directing the Sub Court, Tirur, to adjourn the sale of the petitioner's property, W.P.(C) No.4392/2010 4 which is fixed on 24.5.2010 in execution of the decree in ARC No.174/2000, by a period of two months on condition that the petitioner pays an amount of Rs.75,000/- towards the decree debt within a period of one month. The petitioner is also directed to make a representation to the 2nd respondent Bank for the benefits of waiver of interest or one time settlement that she may claim. If such a representation is made, the same shall be considered and appropriate orders passed by the 2nd respondent within a period of one month of the receipt of such representation. The petitioner may also move the Execution Court for determination of the correct amount that is due from her, if she is able to substantiate her contention that the calculation in the execution petition is wrong. It is made clear that if the payment as stipulated above is not made, the execution proceedings can be proceeded with. (K.SURENDRA MOHAN, JUDGE) ps