IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN MONDAY, THE 10TH JANUARY 2011 / 20TH POUSHA 1932 WP(C).No. 16118 of 2010(L) -------------------------- PETITIONER(S): --------------- SUBRAMANYA.C.S, AGED 43 YEARS, S/O.C.H. SUBRAYA HEBBAR, KUTHIRAPPADUY, POST MAYIPADY, KASARAGOD TALUK. BY ADV. SRI.S.JIJI RESPONDENT(S): --------------- THE KAARAGOD PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., NO. FF 113, REPRESENTED BY ITS SECRETARY AND MANAGER, KASARAGOD. ADV. SRI.T.SETHUMADHAVAN FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P(C)No./2008 APPENDIX PETITIONER'S EXHIBITS: EXT.P1. TRUE COPY OF THE CONCESSION CERTIFICATE OF THE PETITIONER. EXT.P2. TRUE COPY OF THE NOTICE DATED 23.4.2010 ISSUED BY THE RESPONDENT. EXT.P3. TRUE COPY OF THE REPRESENTATION DATED 30.4.2010 MADE BY THE PETITIONER BEFORE THE RESPONDENT. / TRUE COPY / P.S.TO JUDGE P.N.RAVINDRAN, J. ----------------------------------------- W.P(C).No.16118 of 2010 ----------------------------------------- Dated this the 10th day of January, 2011 JUDGMENT The petitioner had availed a housing loan from the respondent bank in the year 1999-2000. When the loan was not repaid, the bank initiated steps under section 19 of the Kerala State Co-operative Agricultural and Rural Development Banks Act, 1984 for sale of the security without the intervention of the court. Ext.P2 sale notice dated 23.4.2010 was thereupon issued proposing to sell the security on 28.5.2010. As per Ext.P2 the petitioner was called upon to pay the sum of Rs.3,42,923/- stated to be due as on 12.4.2010 failing which he was cautioned that the security will be brought to sale and sold on 28.5.2010. The petitioner thereupon filed Ext.P3 representation dated 30.4.2010 requesting that he may be given six months' time to clear the loan amount. The writ petition was thereafter filed on 25.5.2010 challenging Ext.P2 sale notice and seeking a direction to the respondent to grant the petitioner time to repay the loan amount in instalments. Pursuant to the interim order passed by this Court W.P(C).No.16118 of 2010 -:2:- the petitioner has remitted the sum of Rs.1 lakh in two instalments, on 17.6.2010 and 24.7.2010. 2. When the writ petition came up for hearing today the learned counsel appearing for the petitioner submitted that the petitioner will pay the entire amount due in five instalments. Sri.T.Sethumadhavan, learned standing counsel appearing for the respondent bank submitted that the respondent will furnish to the petitioner a statement of accounts setting out the amount due as on 31.12.2010 and that in the event of the petitioner paying the amount due as on 31.12.2010 in five instalments together with interest at the contract rates for the period from 1.1.2011 the bank will not bring the security to sale. 3. In the light of the submissions made at the Bar and having regard to the fact that the petitioner has in compliance with this Court's directions paid an amount of Rs.1,00,000/- in two instalments, on 17.6.2010 and 24.7.2010, I dispose of the writ petition with the following directions: (a) The Secretary of the respondent bank shall within two weeks from today inform the petitioner in writing of the amount due from him as on 31.12.2010. (b) The petitioner shall within one month from the date of W.P(C).No.16118 of 2010 -:3:- receipt of the said communication pay the sum of Rs.50,000/- and shall pay the balance amount in five equal monthly instalments commencing from 1st of March 2011. (c) If the petitioner defaults payment of any two consecutive instalments it will be open to the respondent bank to bring the security to sale. (d) The respondent bank shall after the petitioner remits the last of the five instalments inform the petitioner about the balance if any due from him by way of interest for the period from 1.1.2011 and the petitioner shall pay the said amount within one month from the date of receipt of the intimation. P.N.RAVINDRAN, Judge. ahg. P.N.RAVINDRAN, J. --------------------------- W.P(C).No.16118 of 2010 ---------------------------- JUDGMENT 10th January, 2011