IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 12TH AUGUST 2008 / 21ST SRAVANA 1930 WP(C).No. 24191 of 2008(E) -------------------------------------- PETITIONER: ------------------ J.SASIDHARAN ASSAN AGED 58 YEARS, S/O.JANARDHANAN PILLAI CHITHRA SADANAM, RANDAM POYKA, POLACHIRA PO, NEDUMGOLAM, KOLLAM DISTRICT BY ADV. SRI.AJAYA KUMAR. G RESPONDENTS: ---------------------- 1. PARAVOOR URBAN CO-OP.BANK LTD. NO. 1649, PARAVOOR, KOLLAM, REPRESENTED BY ITS SECRETARY 2. THE DEPUTY REGISTRAR OFFICE OF THE REGISTRAR OF CO-OPERATIVES SOCIETIES KOLLAM R2 BY SR. GOVERNMENT PLEADER SMT.ANU SIVARAMAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Rs/ THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.24191 Of 2008-E = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 12th day of August, 2008. JUDGMENT The petitioner availed a loan of Rs.50,000/- repayable in 36 instalments. He pleaded 15 cents of property. He committed default in repayment. Thereafter, steps were taken under Section 69 of the Kerala Co-operative Societies Act, 1969. That has resulted in an order of recovery. Petitioner states that he is an agriculturist and he suffered heavy loss in agriculture. It is also stated that he has to maintain his wife, who is a heart patient and also his two daughters. He accordingly prays for some time to wipe off the outstandings in instalments, having regard to the financial condition, as also the health condition. Under the aforesaid circumstances, this writ WP(C)24191/08 -: 2 :- petition is ordered directing that if the petitioner remits an amount of Rs.50,000/- on or before 30-8-2008 and continues to remit at the rate of Rs.7,500/- per month payable on or before the last working day of every month commencing from September, 2008 and thereby wipes off the entire outstandings, including accruals, the distress action will stand dropped. On remittance of Rs.50,000/- as afore- directed, the bank will consider any request of the petitioner for reducing the total outstandings and for any ameliorative benefits that are applicable to the transaction in question. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment shall stand recalled automatically and the writ petition shall stand dismissed. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/140808