IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 19TH JANUARY 2009 / 29TH POUSHA 1930 WP(C).No. 1804 of 2009(M) ------------ ------------------------- PETITIONER: --------------- K.T.THOMAS, KALAPPURAKKAL HOUSE, ARUMANOOR P.O. BY ADV. SRI.LIJI.J.VADAKEDOM RESPONDENTS: --------------- 1. KOTTAYAM CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANK, KOTTAYAM- PIN 686 001, REPRESENTED BY ITS SECRETARY. 2. SPECIAL SALE OFFICER, KOTTAYAM CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANK, KOTTAYAM. BY STANDING COUNSEL SRI. GEORGE POONTHOTTAM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P.(C) No. 1804 OF 2009-M ~~~~~~~~~~~~~~~~~~~~~~~ Dated this the 19th day of January, 2009 JUDGMENT Heard learned counsel for the petitioner and learned counsel for the respondent. 2. The petitioner defaulted in repaying the loan availed from first respondent bank. This led to the proceedings under KSCARD Act. In 2007, the petitioner paid an amount of Rs.50,000/- (Rupees Fifty thousand only), as evidenced by Ext.P1. Thereafter, fresh proceedings had again to be initiated. The total outstanding due, as of now, including expenditure and payable accruals would be less than Rs.1,00,000/- (Rupees One lakhs only). Taking that into consideration and recording that the only contention raised is for an opportunity to pay the outstanding in installments, it is directed that if the remaining outstanding is paid off, at the rate of Rs.25,000/- (Rupees Twenty five thousand only) per month payable on or before the last working day of every month commencing from January, 2009, the impugned distress action will be deferred and ultimately dropped. If there is default in paying any of the installments as aforesaid, the benefit of this judgment will stand recalled WP(C) No.1804 of 2009 : 2 : automatically and the respondents will be at liberty to forthwith proceed with the distress action. It is clarified that, this judgment will not stand in the way of the bank extending any reduction in the total outstanding to the petitioner. Writ petition is disposed of as above. (THOTTATHIL B. RADHAKRISHNAN, JUDGE) KMD