IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 29TH JUNE 2009 / 8TH ASHADHA 1931 WP(C).No. 17991 of 2009(T) -------------------------- PETITIONER(S): --------------- 1. SANTHAMMA, W/O.BASKARAN, CHOOTHATTU, THELLAKAM, ETTUMANOOR. 2. LEELA, W/O.MALLINATHAN, MOOSARIKUNNEL, THELLAKAM, ETTUMANOOR. BY ADV. SRI.P.M.SEBASTIAN RESPONDENT(S): --------------- 1. THE KOTTAYAM CO-OPERATIVE AGRICULTURAL RURAL DEVELOPMENT BANK LTD.NO.K-48, REPRESENTED BY ITS SECRETARY, KOTTAYAM. 2. THE SPECIAL SALE OFFICER, THE KOTTAYAM CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.K-48, KOTTAYAM. 3. THE RECOVERY OFFICER, THE KOTTAYAM CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.K-48, KOTTAYAM. 4. V.N.NARAYANAN, S/O.KADUTHA NARAYANAN, VELLAPPILLY NIRAPPEL, THELLAKAM, ETTUMANOOR. 5. KADUTHA NARAYANAN (DIED), VELLAPPILLY NIRAPPEL, THELLAKAM, ETTUMANOOR. SC FOR R1 SRI. T.R. HARIKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC,J. --------------------- W.P.(C).No.17991 OF 2009 ------------------------ Dated this the 29th day of June, 2009. JUDGMENT Heard both sides. 2. Petitioners are the legal representatives of Late Kadutha Narayanan. The deceased had availed of a loan from the first respondent pledging the property owned by him. Default was committed and Arbitration proceedings culminated in an award in favour of the Bank. Now the Bank has issued a sale proclamation, copy of which is Ext.P1. It is at that stage, this writ petition has been filed and the petitioners seek only instalment facility to pay the amount due. 3. Going by Ext.P1 sale proclamation, the property was scheduled to be sold on 30.6.2009 and the amount to be realized is Rs.3,54,501/- together with interest and other charges. Having regard to the fact that the liability was that of late Kadutha Narayanan, whose legal WP(c).No.17991/09 2 representatives are the petitioners and as the petitioners are desirous of liquidating the liability, I feel that an installment facility shall be granted to the petitioners. Accordingly, the writ petition is disposed of as follows; 4. Before 30.6.2009, when the sale is now scheduled to be held, the petitioners shall pay Rs.1 lakh with the first respondent. Subject to such remittance, the sale scheduled shall be kept in abeyance. 5. If the petitioners comply with the aforesaid condition, they will be permitted to discharge the balance liability in six equal monthly installments, first of which shall be paid on or before 30th July, 2009 and the remaining installments shall be paid on or before the 30th of the succeeding months. Subject to payment as above, sale proclamation of the mortgaged property shall be kept in abeyance and it is clarified that in case the default is committed in paying any one of the instalments, the Bank is free to continue the proceedings. vi (ANTONY DOMINIC) JUDGE WP(c).No.17991/09 3 WP(c).No.17991/09 4