IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN TUESDAY, THE 26TH JULY 2011 / 4TH SRAVANA 1933 WA.No. 909 of 2011() -------------------- AGAINST THE JUDGEMENT IN WPC.25485/2010 Dated 24/02/2011 .................... APPELLANT: PETITIONER ------------------------ MARY JOSE, W/O.JOSEPH, CHATHAMKUNNEL HOUSE, KURINJI P.O., KOTTAYAM DISTRICT. BY ADV. SRI.GEORGEKUTTY MATHEW RESPONDENTS: RESPONDENTS -------------------------- 1. THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, KOTTAYAM, PIN - 686602. 2. THE KADANADU SERVICE CO-OPERATIVE BANK LTD., REPRESENTED BY ITS SECRETARY, KADANADU P.O., KOTTAYAM DISTRICT. GOVERNMENT PLEADER SRI. GEORGE MECHERIL. THIS WRIT APPEAL HAVING BEEN FINALLY HEARD ON 26/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.A. 909/2011 APPENDIX ANNEXURE-A TRUE COPY OF THE JUDGMENT IN WRIT APPEAL 182/2010 DATED 31.3.2010. // TRUE COPY // P.S. TO JUDGE. KNC/- C.N. RAMACHANDRAN NAIR & P.S. GOPINATHAN, JJ. = = = = = = = = = = = = = = = = = W.A. 909 OF 2011 = = = = = = = = = = = = DATED THIS, THE 26TH DAY OF JULY, 2011. J U D G M E N T C.N. Ramachandran Nair, J. Heard counsel for the appellant. We have also gone through the judgment of the learned single Judge by which the learned Single Judge permitted the appellant to repay the loan with 12% simple interest with direction to the Bank to return the appellant's property on clearing the arrears. The appellant's case is that the Bank has been more lenient in the case of some others whose liabilities are being settled at 6% simple interest. We are unable to accept this contention because Co-operative Banks accept deposits on an annual interest of around 10 %. So much so, the Bank will not be able to lend money at less than 12% . In other words, the learned Single Judge has not loaded much margin to the Bank while directing the appellant to pay 12% interest on the loan taken by him. We also notice that the facility given is to clear off the arrears with simple interest at 12%. Therefore, we do not find any ground to interfere with the judgment of the learned Single Judge, which, in our view, is fabourable to W.A. 909/2011 2 the appellant. However, we make it clear that since the appellant has no other source of funds, except by sale of the property already purchased by the Bank, the Bank should permit sale of a portion or whole of the property purchased and retained by them on condition that purchaser will directly deposit the debt amount with interest and only on such payment the Bank will release title deed for sale of the property or part thereof by the appellant. The time for payment is extended by two months from today. The writ appeal is disposed of as above. C.N. RAMACHANDRAN NAIR, (JUDGE). P.S. GOPINATHAN, (JUDGE) knc/-