IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN WEDNESDAY, THE 24TH FEBRUARY 2010 / 5TH PHALGUNA 1931 WP(C).No. 6090 of 2010(I) ------------------------------------- PETITIONER(S): -------------------------- CHRISTOPHER GEORGE,AGED 41, S/O.ALFENSO GEORGE,CHRISS HOUSE,MUKKOM, MAYYANNAD.P.O,MAYYANAD VILLAGE, THIRUVANANTHAPURAM. BY ADVS. MR.K.S.MADHUSOODANAN, MR.T.V.JAYAKUMAR NAMBOODIRI, MR.THUSHAR NIRMAL SARATHY, MR.M.M.VINOD KUMAR, SMT.K.M.RAMYA. RESPONDENT(S): --------------------------- MAYYANAD REGIONAL SERVICE CO-OPERATIVE BANK LTD,MAYYANAD,THIRUVANANTHAPURAM REPRESENTED BY SECRETARY. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/02/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss K. SURENDRA MOHAN, J. ------------------------------------------------------------ W.P(C) NO: 6090 OF 2010 I ----------------------------------------------------------- Dated this the 24th February, 2010. JUDGMENT This writ petition is filed challenging Ext.P4 order of the Co- operative Tribunal, Trivandrum. The petitioner had availed a loan of Rs. 3,75,000/- from the respondent on the security of his immovable property. Since the loan was not repaid, the respondent filed ARC 2721/2009 before the Arbitrator (Joint Registrar, Kollam.) The arbitration proceedings ended in Ext.P2 award by which the respondent has been held entitled to recover an amount of Rs.7,46,603/-. The petitioner has filed appeal No:3/2010 before the Kerala Co-operative Tribunal challenging the award. Along with the appeal, the petitioner has also filed I.A.10/2010 seeking a stay of recovery of the amount awarded. As per Ext.P4 order, the petitioner has been granted a conditional order of stay. The condition imposed is that he should pay an amount of Rs.3.5 lakhs on or before 25.2.2010. According to the petitioner, Ext.P3 is unduly harsh for the reason that a huge amount is directed to be deposited within too short a period of time. Counsel for the petitioner submits that the petitioner is desirous of settling the entire dues payable to the respondent. But a breathing time is WPC 6090/2010 2 necessary for raising the required amount. The petitioner is also desirous of availing the benefits of a one time settlement scheme that is stated to be in force. According to the counsel for the petitioner, the petitioner is not in a position to raise the amount of Rs.3,50,000/- within the short period of time that has been granted. 2. I notice that the amount that has been directed to be deposited by Ext.P3 represents a little less than 50% of the award amount. I also notice that the amount of loan availed by the petitioner is Rs.3,75,000/-. In view of the fact that the condition subject to which the order of stay has been granted is only to deposit a little less than 50% of the award amount, I do not find any reason to interfere with the condition. However, in view of the difficult situation which the petitioner is faced, I feel that some more time could be granted to the petitioner to comply with the condition stipulated in Ext.P4. Therefore, the condition in Ext.P4 can be modified to the limited extent of granting some more time to the petitioner to comply with the said condition. 3. This writ petition is accordingly disposed of directing the petitioner to deposit an amount of Rs. 50,000/- on or before WPC 6090/2010 3 5.3.2010 and a further amount of Rs.3,00,000/- before 31.5.2010. K. SURENDRA MOHAN Judge jj WPC 6090/2010 4 K.K.DENESAN & V. RAMKUMAR, JJ. ---------------------------------------------------- M.F.A.NO: ----------------------------------------------------- JUDGMENT Dated: