IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 23RD OCTOBER 2009 / 1ST KARTHIKA 1931 WP(C).No. 26800 of 2009(T) -------------------------- PETITIONER(S): --------------- S.V.ASHOK KUMAR, S/O.VENGIDACHALAM ANACKAPPARA P.O., ANCHUMURTHI P.O., PALAKKAD DISTRICT. BY ADV. SRI.P.VIJAYA BHANU SRI.V.A.JOHNSON (VARIKKAPPALLIL) RESPONDENT(S): --------------- 1. THE VADAKKENCHERRY CO-OPERATIVE BANK SERVICE BANK LTD., REPRESENTED BY ITS SECRETARY, VADAKKENCHERRY, PALAKKAD DISTRICT. 2. THE SPECIAL SALE OFFICER, KANNAMBARA STATE CO-OPERATIVE BANK, GROUP, ALATHUR, PALAKKAD DISTRICT. 3. THE SECRETARY, KERALA FARMER'S DEBT RELIEF COMMISSION, THIRUVANANTHAPURAM. ADV. SRI.P.B.SURESH KUMAR FOR R1 SRI.K.N.SASIDHARAN NAIR FOR R1 SRI.K.P.SUJESH KUMAR FOR R1 SMT.M.SRUTHY FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 23/10/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: : 2 : W.P(C)NO.26800/09 APPENDIX PETITIONER'S EXHIBITS: 1. EXHIBIT P1: True copy of the judgment in WP(C) No.6466/09 of this Hon'ble Court, dated 27.02.2009. 2. EXHIBIT P2: True copy of the application dated 19.07.2009, addressed to 1st respondent Bank. 3. EXHIBIT P3: True copy of the acknowledgment card dated 1.8.2009. 4. EXHIBIT P4: True copy of the communication made by the Chief Minister's Office to the petitioner, dated 28.8.2009. 5. EXHIBIT P5: True copy of the notice dated 13.8.2009 issued by the 2nd respondent. RESPONDENTS' EXHIBITS NIL /TRUE COPY/ P.A.TO JUDGE. C.K.ABDUL REHIM, J. ======================== W.P(C).NO.26800 OF 2009 ========================= Dated this this 23rd day of October, 2009. JUDGMENT 1. This is the second round of litigation in which the petitioner is approaching this court challenging the proceedings for sale initiated by the 2nd respondent for realisation of the amount covered under an award passed by the Arbitrator under the provisions of Co-operative Societies Act. The petitioner availed a loan from the 1st respondent Co-operative Bank to the tune of Rs.2,00,000/- (Two lakhs) during the year 2002 . The residential property of the petitioner was offered as security by way of equitable mortgage while availing the loan. According to the petitioner, due to unexpected financial crisis occurred in the business activities, the loan amount could not be repaid regularly and inspite he had repaid an amount of about Rs.80,000/-. Pursuant to default committed in the loan account, the 1st respondent Bank filed arbitration proceedings and obtained the -5- W.P(C) No.26800/09 award. When the 2nd respondent initiated proceedings for sale of the immovable property, the petitioner had approached this court by filing W.P(C) No.6466/2009. In Exhibit- P1 judgment, this court had relegated the petitioner to the 2nd respondent to seek reasonable time to pay off the entire amounts, in instalments. According to the petitioner, eventhough request in this regard was submitted, no decision was taken. It is the further case of the petitioner that, the amount due to the 1st respondent is coming within the purview of scheme promulgated by the Central Government for providing debt relief to agricultural and related loans and therefore he has submitted a representation as evidenced by Exhibit-P2 to various authorities. But the 1st respondent is not prepared to consider the same and is proceeding with coercive steps for sale of immovable properties as evidenced by Exhibit – P5 notice, is the contention. -5- W.P(C) No.26800/09 2. Heard Standing Counsel appearing for the 1st respondent bank. It is submitted that, pursuant to the direction issued by this court in Exhibit–P1 judgment, the petitioner had never persued his remedies before the 2nd respondent. According to the 1st respondent the loan is in default since the last so many years and inspite of the award, the bank could not realise any amounts. 3. Having confronted with the above contentions, the learned counsel for the petitioner submitted that , the petitioner is ready and willing to pay off the entire liability in instalments within a reasonable time. Eventhough the bank is not favouring in providing any enlargement of time, I am of the opinion that some indulgence can be shown once again, to permit the petitioner to pay off the entire liability. 4. This court through an interim order dated 23.9.2009 had directed the petitioner to pay an amount of Rs.40,000/- within three weeks thereof. It is admitted -5- W.P(C) No.26800/09 by both sides that the said payment was already made. 5. Under the above circumstances, the writ petition is disposed of directing the petitioner to make payment of a sum of Rs.50,000/- on or before 15.11.2009. The respondents are directed to keep in abeyance all further steps pursuant to Exhibit P5 notice, till such date. On payment of the said amount, the 1st respondent Bank shall issue an intimation to the petitioner showing a total outstanding, after crediting the entire payment and after considering waiver of interest/default interest to the possible extent. The petitioner shall continue to pay the entire balance as intimated in six equal monthly installments, starting from 15.12.2009 and on or before the 15th day of every succeeding months. 6. On the event of default in payment of the amount as stipulated above, the respondents will be at liberty to proceed with further steps from the stage at -5- W.P(C) No.26800/09 which it is stopped, and on such event the petitioner will be precluded from raising any subsequent challenge against such proceedings . The Writ Petition is disposed of as above. C.K.ABDULM REHIM,JUDGE. Sks/-