IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 18TH DECEMBER 2008 / 27TH AGRAHAYANA 1930 WP(C).No. 37462 of 2008(I) --------------------------------------- PETITIONER(S): ------------------------- 1. DR.K.SURAJU, EDAYILE PARAMBIL, NAVANEETHAM, MYLAPRA TOWN P.O., PATHANAMTHITTA. 2. SMT.N.BINDHU, D/O.PONNAMMA, EDAYILE PARAMBIL HOUSE, MYLAPRA TOWN P.O., PATHANAMTHITTA. BY ADV. SRI.PHILIP M.VARUGHESE SRI.V.AJITH KUMAR RESPONDENT(S): --------------------------- 1. AUTHORISED OFFICER (REGIONAL MANAGER- IN-CHARGE, THIRUVANANTHAPURAM REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM 695 001. 2. THE KERALA STATE CO-OPERATIVE BANK LTD., PATHANAMTHITTA BRANCH, REPRESENTED BY ITS MANAGER, VILAVINAL RAJ TOWERS, PATHANAMTHITTA 689 645. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO.37462 OF 2008 (I) ------------------------------------------------------ Dated this the 18th day of December, 2008 J U D G M E N T Heard the learned counsel for the petitioners and Adv.Sri.Nagaraj Narayan on behalf of the respondents. 2. Petitioners availed a loan for the expansion of an Ayurvedic Clinic. There is default in repayment. This has led to the impugned distress action. There is no jurisdictional error or legal infirmity in the impugned proceedings. 3. Petitioners' request is only for a facility to repay the outstandings in installments. Recording this submission and taking into consideration the entire amount fixed for recovery, this writ petition is ordered directing that if the petitioners remit an amount of Rs.2 lakhs within a period of one month and continue to remit at the rate of Rs.50,000/- per month, payable on or before the last working day of every W.P.(C) No.37462/2008 - 2 - month commencing from February, 2009, the impugned distress action will be withheld and dropped. The petitioners' paying off the entire outstandings will be subject to any reduction that the bank may give in its wisdom. If there is default in remitting any of the installments as afore-directed, the benefit of this judgment will stand recalled and this writ petition will stand dismissed automatically, enabling the respondents to forthwith proceed with further distress action. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/22/12 // True copy // P.A. to Judge.