IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 29TH JULY 2008 / 7TH SRAVANA 1930 WP(C).No. 22757 of 2008(H) -------------------------- PETITIONER: ------------ V.P.ISAC, AGED 48 YEARS, S/O.PYLI, VAZHAPPULLYKKUDI HOUSE, KONNAMANNA, PALLIKKUTH P.O., NILAMBUR, MALAPPURAM DIST. BY ADV. SRI.P.SAMSUDIN RESPONDENTS: ------------- 1. THE AUTHORISED OFFICER, (GENERAL MANAGER IN CHARGE) MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD, MALAPPURAM. 2. THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD, REPRESENTED BY ITS GENERAL MANAGER, MALAPPURAM. 3. THE REGISTRAR OF CO OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. R1, R3 BY SR.GOVT. PLEADER SMT.ANU SIVARAMAN R2 BY ADV.SRI.K.MADHAVAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.22757 OF 2008 ------------------------------------------- Dated this the 29th day of July, 2008 JUDGMENT Heard learned counsel for the petitioner and learned counsel for the Bank. The transaction is admitted and the outstandings are not disputed. No amount has been paid towards the loan availed more than 8 years ago. Under such circumstances, I do not find any ground to interfere with the impugned proceedings. The plea of the petitioner that the property in question is agricultural land is not established, particularly when what is covered by the impugned proceedings is garden land (paramba) and there is no reason to assume that the property is agricultural land without any further evidence in that regard. The petitioner has not taken recourse to the statutory remedy available under the SARFAESI Act and by approaching this Court he will stand denuded of such opportunity. Having heard learned counsel for parties and considering the plea on behalf of the petitioner that he may be given an WPC.22757/08 Page numbers opportunity to pay off the outstandings in instalments, the impugned proceedings are confirmed and the writ petition is ordered directing that if the petitioner remits the entire outstandings in five equal monthly instalments, payable on or before the 20th of every month, commencing from August, 2008, the impugned proceedings will stand deferred. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.29/7.