IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 12TH NOVEMBER 2008 / 21ST KARTHIKA 1930 WP(C).No. 33266 of 2008(I) -------------------------- PETITIONERS: --------------- 1. GOPALAKRISHNA PILLAI, MUZHANGODIYIL HOUSE,VADAKKUMKARA KIZHAKKU, UMAYANALLOOR.P.O, KOLLAM. 2. ABDUL HAMEED, MUZHANGODIYIL HOUSE, VADAKKUMKARA KIZHAKKU, UMAYANALLOOR.P.O, KOLLAM. 3. RAMLA BEEGUM, MUZHANGODIYIL HOUSE, VADAKKUMKARA KIZHAKKU, UMAYANALLOOR.P.O, KOLLAM. BY ADV. DR.K.P.SATHEESAN SRI.K.K.GOPINATHAN NAIR SRI.M.R.JAYAPRASAD SRI.P.MOHANDAS (ERNAKULAM) RESPONDENTS: --------------- 1. SPECIAL SALE OFFICER,MAYYANAD REGIONAL CO-OPERATIVE BANK GROUP, ASSISTANT REGISTRAR GENERAL OFFICE, KOLLAM. 2. THE SECRETARY, MAYYANAD REGIONAL CO-OPERATIVE BANK LTD.NO.94, MAYYANAD, KOLLAM DISTRICT. BY GOVT. PLEADER SRI. K.C.SANTHOSH KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO. 33266 OF 2008 (I) ------------------------------------------------------ Dated this the 12th day of November, 2008 J U D G M E N T Heard the learned counsel for the petitioners and learned Government Pleader on behalf of first respondent. Notice to second respondent is dispensed with, preserving his right to move for review of this judgment, if aggrieved. Petitioners are debtors of the second respondent and are faced with demand notice following arbitration awards. The execution proceedings having commenced in 2007. Petitioners now states that they are entitled to the benefit of certain circulars and consequential settlement of the transaction under one time settlement scheme. Under such circumstances, it is ordered that if the petitioners deposit an amount of Rs.1,00,000/- within a period of one month from now and a further amount of Rs.1,00,000 within a period of another one month, Exhibits P2 and P3 will be taken up, considered and disposed of, in W.P.(C) No.33266/2008 - 2 - accordance with law, within a period of three months from now. The execution proceedings will stand deferred, if the petitioners comply with the decision of the bank on Exhibits P2 and P3. If the petitioners fail to comply with the decision as aforesaid, the benefit of this judgment will stand recalled automatically and the bank will be at liberty to forthwith proceed with Exhibit P1 proceedings, without any further notice. THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/15/11