IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN FRIDAY, THE 10TH JUNE 2011 / 20TH JYAISHTA 1933 WP(C).No. 6089 of 2011(I) ------------------------- PETITIONER(S): --------------- JOBY GEORGE,AGED 34 YEARS, S/O.GEORGE JOSEPH,KAKKANATTU HOUSE, VANNAPPURAM,THODUPUZHA. BY ADV. SRI.A.P.SUBHASH RESPONDENT(S): --------------- 1. THE SECRETARY,THE THODUPUZHA PRIMARY CO-OPERATIVE AGRL.AND RURAL DEVELOPMENT BANK LTD, NO.4388,THODUPUZHA,P.B.NO.13.-685589. 2. THE SPECIAL SALE OFFICER,THE THODUPUZHA PRIMARY CO-OPERATIVE AGRL.AND RURAL DEVELOPMENT BANK LTD.NO.4388,THODUPUZHA,P.B.NO.13.-685584. BY ADV. SRI.P.V.BABY FOR R1 BY GOVT. PLEADER SRI.P.M.MANOJ. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX IN W.P.(C) No.6089 of 2011 EXT.P1 NOTICE ISSUED BY THE FIRST PETITIONER DATED 9.12.2010 EXT.P2 NOTICE ISSUED BY THE SECOND PETITIONER DATED 19.1.2011 EXT.P3 RELEVANT PAGES OF ACCOUNT PASS BOOK IN RESPECT OF THE SAID LOAN HAVING ACCOUNT NO.STL NO.559 //TRUE COPY// P.A. TO JUDGE. P.N. RAVINDRAN, J. ------------------------------- W.P.(C) No.6089 OF 2011 ------------------------------- Dated this the 10th day of June, 2011 J U D G M E N T The petitioner availed a loan from the Thodupuzha Primary Co-operative Agricultural and Rural Development Bank Ltd. When the loan was not repaid in time, the bank took steps to sell the security without the intervention of the Court. Before the sale was held, Exts.P1 and P2 notices dated 9.12.2010 and 19.11.2011 respectively were issued to the petitioner demanding payment, failing which the petitioner was cautioned that his properties will be brought to sale and sold in public auction. This writ petition was thereupon filed challenging the said demand notices and seeking an order directing the respondents not to proceed against the petitioner. 2. The writ petition was admitted and notice ordered to the respondents on 25.2.2011. After the respondents entered appearance, I passed an interim order on 28.3.2011 staying the recovery pursuant to the impugned notices, in the event of the petitioner depositing with the first respondent the sum of Rs.25,000/- within two weeks and a further sum of Rs.50,000/- within another two months thereafter. 3. When the writ petition came up for hearing today, the learned counsel for the petitioner submitted that the petitioner has W.P.(C) No.6089 of 2011 2 complied with the first part of the direction and remitted the sum of Rs.25,000/- and that the time fixed for payment of the second instalment of Rs.50,000/- expires today. The learned counsel for the petitioner also submitted that the petitioner needs only a reasonable time and an opportunity to pay the balance amount due in instalments, and that as he has already deposited the sum of Rs.25,000/-, the writ petition may be disposed of permitting him to pay the balance amount in 10 equal instalments. Sri.P.V.Baby, learned counsel appearing for the first respondent bank, on the other hand, submitted that the bank is primarily concerned with the recovery of the loans advanced by it and therefore the bank is willing to extend to the petitioner an opportunity to pay the balance amount due in instalments. 4. In the light of the above submissions, I dispose of the writ petition with the following directions:- i) The first respondent shall within two weeks from today inform the petitioner in writing of the amount due from him as on 30.6.2011. ii) The petitioner shall pay the said amount in seven equal monthly instalments commencing from 30.7.2011. If 30th of any month is a holiday, payment shall be made on the W.P.(C) No.6089 of 2011 3 next working day. If the petitioner commits default in remitting any two consecutive instalments, this judgment shall stand recalled and it will be open to the respondents to recover the amount then due from the petitioner in lump. iii) If the petitioner pays the amount due as on 30.6.2011 in seven instalments as stated above, the bank shall inform in writing of the amount, if any, due by way of interest for the period commencing from 1.7.2011 till the date of last payment of the instalment, and the petitioner shall pay that amount also without protest within one month thereafter. iv) Upon that payment, the documents of title, if any, deposited by the petitioner will be returned to the petitioner, if they are not required to be retained in connection with any other loan availed by him or any loan transaction to which he is a surety. P.N. RAVINDRAN, JUDGE. nj. W.P.(C) No.6089 of 2011 4