IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 6TH OCTOBER 2008 / 14TH ASWINA 1930 WP(C).No. 29358 of 2008(T) ---------------------------------------- PETITIONER: -------------------- A.V.SHAJI, AGED 41 YEARS, S/O.VISWAMBHARAN, ARAKKAMPARAMBIL HOUSE, P.O.NELLAI, THRISSUR DISTRICT. BY ADV. SRI.V.M.KRISHNAKUMAR SMT.P.A.ANITHA RESPONDENTS: ------------------------- 1. THE ARBITRATION SALE OFFICER, OLLUR SERVICE CO-OPERATIVE BANK, OLLUR, O/O.ASSISTANT REGISTRAR, CO-OPERATIVE SOCIETIES, THRISSUR. 2. OLLUR SERVICE CO-OPERATIVE BANK, REPRESENTED BY ITS SECRETARY, OLLUR, THRISSUR. 3. DAVID, CHERPUKARAN HOUSE, OLLUR P.O., THRISSUR. 4. ROSILY DAVID, W/O.DAVID, CHERPUKARAN HOUSE, OLLUR P.O., THRISSUR. BY GOVERNMENT PLEADER SRI. K.C. SANTHOSHKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.29358 of 2008 ================================== Dated this the 6th day of October, 2008. JUDGMENT Learned Government Pleader appears for the first respondent. Having regard to the nature of the directions being issued hereunder, notice to respondents 2 to 4 is dispensed with, preserving their liberty to move for review of this judgment, if aggrieved. 2. Petitioner stood as a guarantor for a loan availed by respondents 3 and 4. On failure to repay that loan, the second respondent obtained arbitration awards and put them to execution and the resultant proceedings listing the property for sale are under challenge. I do not find any jurisdictional error or legal infirmity in those proceedings. In that situation, giving up all other contentions, the petitioner, through learned WPC29358/08 -:2:- counsel, submits that he may be given an opportunity to pay off the outstandings. As a last opportunity, if the petitioner deposits one half of the total outstandings within a period of three weeks from now and remits the remaining portion in four equal monthly instalments, payable on the last working day of every month commencing from November, 2008, further distress action will stand dropped. If the petitioner fails to remit any of the instalments as aforesaid, the benefit of this judgment will stand recalled and the writ petition will stand dismissed enabling the respondents to forthwith proceed with distress action. Writ petition ordered accordingly. Thottathil B.Radhakrishnan, Judge. sl.