IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 17TH MARCH 2008 / 27TH PHALGUNA 1929 WP(C).No. 8509 of 2008(K) ------------------------- PETITIONER: ------------ SURESH BABU, PERUNILATHIL HOUSE ARUNOOTTIMANGALAM P.O., KADUTHURUTHY, KOTTAYAM. BY ADV. SRI.V.G.ARUN SRI.T.R.HARIKUMAR RESPONDENTS: ------------- 1. THE AUTHORISED OFFICER KADUTHURUTHY URBAN CO-OPERATIVE BANK LTD. KADUTHURUTHY, KOTTAYAM. 2. KADUTHURUTHY URBAN CO-OPERATIVE BANK LIMITED, KADUTHURUTHY P.O., REPRESENTED BY ITS GENERAL MANAGER. BY SHRI.C.VARGHESE KURIAKOSE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ================== W.P.(C).No.8509 of 2008 ================== Dated this the 17th day of March, 2008 J U D G M E N T The petitioner availed a loan from the 2nd respondent. According to him, he could not complete the construction of the house for which purpose the loan was availed. On default, the bank has brought the property to sale. The petitioner states that he entered into an agreement for sale of the premises for a better amount and that he may be given time to pay off the amounts due to the bank. 2. The action of the bank cannot be found fault with. The same is not vitiated on the ground of any legal infirmity or jurisdictional error. However, the petitioner's interest in liquidating the outstanding amounts appears to be bonafide. It is submitted that the total amount due is Rs.3,38,185/-. 3. In the aforesaid circumstances, while repelling the challenge to the sale proceedings, this writ petition is disposed of w.p.c.8509/08 2 directing that if the petitioner remits an amount of Rs.50,000/- on or before 31.3.2008, and the remaining amounts on or before 10th June, 2008, the impugned proceedings shall be dropped. It is clarified that such remittance shall include all accruals on the amounts as now outstanding. If there is any default in remitting any of the amounts as afore-directed, the benefit of this judgment will stand recalled automatically and the writ petition will stand dismissed. Sd/- sdk+ THOTTATHIL B.RADHAKRISHNAN, JUDGE ///True copy/// P.A. to Judge