IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN FRIDAY, THE 22ND JANUARY 2010 / 2ND MAGHA 1931 WA.No. 127 of 2010() -------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.37866/2009 Dated 06/01/2010 .................... APPELLANTS/PETITIONERS: ------------------------------ 1. ZEENATH, W/O AZEEZ, KHADEEJA MANZIL, PO CHALAD, KANNUR, KANNUR DT. 2. A.K.ABDUL AZEEZ, S/O AHAMED HAJI, KHADEEJA MANZIL, CHALAD, KANNUR, KANNUR DT. BY ADV. SRI.T.PRAVEEN RESPONDENT(S): RESPONDENTS IN WP -------------------------------- 1. THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, KOZHIKODE, COLOMBO COMPLEX, MM ALI ROAD, KOZHIKODE, REPRESENTED BY REGIONAL MANAGER. 2. THE KERALA STATE CO-OPERATIVE BANK LTD., KANNUR BRANCH, SOUTH BAZHAR, KANNUR, REPRESENTED BY ITS MANAGER. BY ADV. SRI.NAGARAJ NARAYANAN, SC THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 22/01/2010, THE COURT ON 22/01/2010 DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & V.K.MOHANAN, JJ. .................................................................... Writ Appeal No.127 of 2010 .................................................................... Dated this the 22nd day of January, 2010. JUDGMENT Ramachandran Nair, J. Writ Appeal is filed against judgment of the learned Single Judge granting three instalments to clear the accrued arrears of loan taken by the appellants. We have heard counsel appearing for the appellants and Standing Counsel appearing for the respondents-Bank. 2. In the normal course there is no scope for interference because the learned Single Judge has granted a reasonable facility to clear accrued arrears in three instalments. However, counsel for the appellants submitted that without selling an item of property appellants will not be able to repay the arrears and a crash sale of property will lead to heavy loss. We find force in this contention because a person in debt will not be able to get a proper price for the property sold in distress. However, we extend the time in terms of the request by the counsel on his undertaking on behalf of the appellants that the accrued arrears will be cleared by 31.3.2010 and that further instalments will be 2 paid without any default at all. We, therefore, allow the Writ Appeal by granting time till 31.3.2010 by which time appellants will clear the accrued arrears. Further, the appellants will thereafter pay the monthly instalments without committing any default and if two consecutive defaults are committed, there will be direction to the appellants to surrender the mortgaged property to the Secretary of the Bank for sale in public auction without requirement of further notice. If the appellants fail in this, the Bank will report the matter to this court for initiating contempt for violating the undertaking given in Court. C.N.RAMACHANDRAN NAIR Judge V.K.MOHANAN Judge pms