IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 8TH JULY 2009 / 17TH ASHADHA 1931 WP(C).No. 12509 of 2009(G) -------------------------- PETITIONER(S): --------------- UMMEN PANICKER, S/O. THOMAS PANICKER, AGED 57 YEARS, TOPS MANOR, PANAVELI P.O., KOTTARAKKARA, VETTIKAVALA VILLAGE, KOLLAM DISTRICT. BY ADV. SRI.P.P.JACOB RESPONDENT(S): --------------- 1. KANNUR DISTRICT CO-OPERATIVE BANK LTD, NO.C.266, KANNUR, REPRESENTED BY ITS GENEREAL MANAGER-IN-CHARGE. 2. THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES (G), KANNUR. 3. THE KERALA CO-OPERATIVE TRIBUNAL, THIRUVANANTHAPURAM. 4. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES.SALE OFFICER, KANNUR DISTRICT CO-OPERATIVE BANK LTD NO.C 266, KANNUR. ADV. SRI.P.NARAYANAN,SC,KANNUR DIST.CO.OP.BA FOR R1 BY GOVT. PLEADER SRI. MOHAMMED HASHIM THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX Ext.P1. True copy of the ARC.No.160/08 dated 14.2.2008. Ext.P2. True photocopy of the award I ARC.No.160/08 dated 18.9.2008 Ext.P3. True copy of the order in I.ANo.14/09 in R.P.No.8/09 dated 29.1.2009. Ext.P4. True photocopy of the notice of attachment issued by fourth respondent dated 6.4.2009 // true copy // P.A to Judge. ANTONY DOMINIC,J. --------------------- W.P.(C).No.12509 OF 2009 ------------------------ Dated this the 8th day of July, 2009. JUDGMENT Heard the counsel for the petitioner and the Standing Counsel for the Ist respondent. 2. The challenge in this writ petition is against Exts.P3 and P4. 3. Facts of the case are that, the petitioner had availed of a loan of Rs.15 lakhs from the respondent Bank. Payment was defaulted and finally the Bank filed ARC.No.160/08 resulting in Ext.P2 award passed against the petitioner for an amount of Rs.21,08,678/- plus interest and cost. Petitioner submits that against the said award he filed a revision petition before the Tribunal as R.P.No.8/09 along with IA.No.14/09 seeking stay of Ext.P2. The IA was considered and the Tribunal passed Ext.P3 order granting stay on condition that the petitioner remits Rs.15 lakhs before 26.2.2009. This order was not complied with and WP(c).No.12509/08 2 therefore the Bank initiated recovery proceedings as per Ext.P4. It is challenging Exts.P3 and P4 that the writ petition is filed. 4. The Bank apparently continued the recovery proceedings and it is on account of that the petitioner filed I.A.No.820/00. It is the said IA which is posted to today. When the matter came up for hearing, counsel for the petitioner gave up his challenge against Ext.P2 award rendered by the Arbitrator and all that the petitioner now seeks is that he be given an opportunity to move the Bank seeking waiver of the penal interest. The counsel for the petitioner also seeks instalment facility to enable him to discharge the dues under Ext.P2 award. 5. I heard the counsel appearing for the first respondent also. Having regard to the submissions made, I dispose of this writ petition with the following directions. I. I record submission of the counsel for the petitioner that he is giving up the challenge in ARC.No.160/08 against WP(c).No.12509/08 3 Ext.P2 award. ii. It is directed that the petitioner will be permitted to pay the amount due under Ext.P2 award in 5 equal monthly instalments, first of which shall be paid on or before the 30th July, 2009 and the subsequent instalments shall be paid on or before 30th every succeeding month. iii. Subject to payment as above, recovery proceedings pursuant to Ext.P4 shall be kept in abeyance and in case any default is committed in paying the instalments as above, Bank will be free to continue the recovery already initiated. iv. It is also made clear that this judgment will not stand in the way of the petitioner approaching the Bank for waiver of the penal interest levied on the him and it is entirely up to the Bank to consider the same. (ANTONY DOMINIC) JUDGE vi/ WP(c).No.12509/08 4