IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 5TH FEBRUARY 2008 / 16TH MAGHA 1929 WP(C).No. 4125 of 2008(N) ------------------------- PETITIONER: ------------ K.D.GERVACES, S/O. DEVASSIA, KURUVINAMTHOTTIYIL HOUSE, CHOTTUPARADESOM, KILLANNUR VILLAGE, THRISSUR TALUK. BY ADV. SRI.C.E.UNNIKRISHNAN RESPONDENTS: ------------- 1. REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 2. THRISSUR DISTRICT CO-OPERATIVE BANK LTD., KURUPPAM ROAD, THRISSUR-1, REPRESENTED BY ITS GENERAL MANAGER. 3. JOINT REGISTRAR (GENERAL) OF CO-OPERATIVE SOCIETIES, THRISSUR. 4. ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, ARBITRATOR CUM SPECIAL SALE OFFICER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD., SHANKARASADABDHI MANDIRAM, TUDA ROAD, THIRUVAMBADI P.O., THRISSUR-22. FOR R1, R3 AND R4, SENIOR GOVERNMENT PLEADER, SMT.ANU SIVARAM FOR R2 STANDING COUNSEL, SRI T.R.HARIKUMAR AND SRI.V.G.ARUN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ W.P.(C) No. 4125 of 2008-N ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Dated this the 5th day of February, 2008 J U D G M E N T Having heard the matter for quite sometime, I do not find that there is any legal infirmity or jurisdictional error in the impugned proceedings. The petitioner suffered the arbitration award under the K.C.S Act. This led to the execution proceedings that has now resulted in the sale of immovable property by auction. Faced with this situation, learned counsel for the petitioner, giving up all the contentions, requested that his client may be permitted to wipe off the outstandings. 2. Having heard the learned counsel for the petitioner and the learned counsel for the Bank, this writ petition is disposed of directing that if the petitioner deposits an amount of Rs.25,000/- at or before the time fixed for sale and the balance amounts in five equal monthly instalments, payable on or before the last working day of every month, commencing from February, 2008, and thereby wipes off the entire outstandings including the accruals, the W.P.(C).No.4125/2008-N -: 2 :- impugned recovery shall be dropped. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand automatically recalled and the writ petition will stand dismissed, and the respondents shall be at liberty to forthwith proceed with the recovery proceedings. THOTTATHIL B.RADHAKRISHNAN, Judge ms