IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 7TH AUGUST 2009 / 16TH SRAVANA 1931 WP(C).No. 22430 of 2009(W) -------------------------- PETITIONER(S): --------------- V.R.GANGADHARAN, AGED 70 YEARS, VADAKKOOT HOUSE, ANAYAKKAL DESOM, PORKKALANGAD P.O., KANIPAYYOOR VILLAGE, THALAPPILLY TALUK, THRISSUR DISTRICT, PIN-680 517. BY ADV. SRI.P.RAMACHANDRAN RESPONDENT(S): --------------- 1. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES/THE ARBITRATOR CUM-SPECIAL SALE OFFICER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD., KURUPPAN ROAD, THRISSUR-680001. 2. THE GENERAL MANAGER, THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD.NO.60, THRISSUR. BY GOVT. PLEADER SRI. K. RAMESH SC FOR R2 SRI. P.C. SASIDHARAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/08/2009 A/W.WP(c).No.22439/09 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC,J. ---------------------------- W.P.(C).Nos.22430 & 22439 OF 2009 ------------------------------ Dated this the 7th day of August, 2009. JUDGMENT Petitioner in WP(c).No.22430/09 availed of a housing loan from the 2nd respondent Bank. Petitioners in WP(c). No.22439/09 also have availed of loans from the aforesaid Bank. Defaults were committed and thereupon ARC.Nos.1074/05 and 1075/05 respectively were filed by the Bank, resulting in Ext.P1 awards against the respective petitioners in these writ petitions. 2. Execution proceedings were launched and mortgaged properties were also brought under attachment. At that stage revision petitions were filed before the Tribunal and the Tribunal passed conditional orders of stay. Conditions imposed have not been complied with and subsequently the stay granted was also vacated. Now sale notice has been published by the Bank WP(c).Nos.22430/09 & 22439/09 2 and the sale is scheduled to take place on 20th August, 2009. It is at this stage that these writ petitions have been filed. 3. All that the petitioners contend is that, they be given some time to liquidate the liability, so that the mortgaged property can be saved from the distress sale. 4. I heard the Standing Counsel appearing for the Bank also. Counsel for the Bank submits that since the stay granted by the Tribunal has been vacated, the Bank is justified in putting the mortgaged property for sale. It is also stated by the Standing Counsel that nothing restrains the sale Officer from conducting the sale. 5. However, having regard to the fact that the petitioners undertake to remit the amount provided some time is given, I am inclined to think that they can be given a last opportunity to discharge the liability and save the property from distress sale. Accordingly, the writ petitions are disposed of directing that if the petitioners in these writ petitions remit 1/3rd of the WP(c).Nos.22430/09 & 22439/09 3 amount due from them on or before 19th August, 2009, the sale in pursuance to Ext.P4 sale notices will be deferred. If the aforesaid condition is complied with, the balance amount due under the award will be allowed to be paid in four equal monthly instalments, first of which shall be paid on or before 19th September, 2009 and the subsequent installments shall be paid on or before 19th of every succeeding month. It is made clear that in case any default is committed in complying with any of the conditions as above, the respondents will be free to finalize the proceedings. (ANTONY DOMINIC) JUDGE vi/ WP(c).Nos.22430/09 & 22439/09 4