IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 24TH SEPTEMBER 2008 / 2ND ASWINA 1930 WP(C).No. 25175 of 2008(V) -------------------------- PETITIONER(S): --------------- SASDASIVAN, S/O.GOPALAKRISHNAN THACHAMKULAM HOUSE MAROTTICHAL PO.., THRISSUR BY ADV. SRI.K.I.SAGEER RESPONDENT(S): --------------- 1. ASSISTANT REGISTRAR OF CO.OP.SOCIETIES ARBITRATOR CUM SPECIAL SALE OFFICER THRISSUR DIST. CO.OP.BANK LTD. THIRUVAMBADI, THRISSUR-2. 2. MANAGER, THRISSUR DIST.CO.OP.BANK LTD. OLLUR BRANCH, OLLUR. R1 BY GOVT. PLEADER SRI.K.C.SANTHOSH KUMAR R2 BY ADV. SRI.V.G.ARUN,SC,THRISSUR DIST.CO-OP BANK SRI.T.R.HARIKUMAR,SC,THRISSUR DIST.CO.O THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.25175 OF 2008 ------------------------------------------- Dated this the 24th day of September, 2008 JUDGMENT The petitioner availed a loan of Rs.1.5 lakhs in the year 1995 and defaulted in repayment of that amount, with accrued interest. That resulted in an arbitration award under the Kerala Co-operative Societies Act, 1969 and execution proceedings thereon. The total accruals have now grown to be around Rs.5.70 lakhs. The petitioner, in challenge of the impugned sale proceedings, has not been able to demonstrate any ground of illegality or jurisdictional error in it. The writ petition, on those grounds, hence fails. Following the interim order dated 20.8.2008, the petitioner deposited an amount of Rs.25,000/- and filed I.A.No.12259/08 seeking enlargement of time to pay the remaining portion covered by that interim order. Having found that there is no ground to sustain this writ petition on merits, learned counsel for the petitioner submitted that as a last opportunity, the petitioner may be permitted to pay off the entire outstandings by the last working day of December, WPC.25175/08 Page numbers 2008. However, I do not find any ground to issue any such order. Hence, it is directed that if the petitioner deposits an amount of Rs.2 lakhs on or before 31.10.2008, the impugned sale shall stand adjourned to 1.1.2009. As of now, the sale shall be listed on 1.11.2008 and shall be held on that day. If there are bidders and if the petitioner does not remit the amount of Rs.2 lakhs on or before 31.10.2008, it will also be open to the bank to bid in the auction. If the amount of Rs.2 lakhs is deposited on or before 31.10.2008 and if the entire remaining amounts are not paid on or before 31.12.2008, the sale shall be held as aforesaid on 1.1.2009. The time limits fixed above shall be treated as peremptory and it is directed that the petitioner will not be entitled to any further notice and the requirement of any fresh proclamation, publication etc. are dispensed with and the sale will be governed by the direction contained in this judgment. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.