IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 22ND JULY 2008 / 31ST ASHADHA 1930 WP(C).No. 18636 of 2008(R) --------------------------------------- PETITIONER: ----------------- RAMU @ BINU , AGED 32 S/O. LATE K.P. SULOCHANAN, BINU VIHAR KUZHIMATTICADU, KUNDARA, KOLLAM. BY ADV. SRI.H.HARIKUMAR (KOLLAM) RESPONDENTS: --------------------- 1. STATE OF KERALA, REPRESENTED BY ITS GOVERNMENT PLEADER, HIGH COURT OF KERALAL ERNAKULAM. 2. THE ASSISTANT REGISTRAR ARBITRATOR CUM SALE OFFICER DISTRICT CO-OPERATIVE SOCIETY PARAVUR, S.N.V.C. BANK,PARAVUR, KOLLAM. 3. THE PRESIDENT S.N.V.R.C. BANK, KOLLAM. R1, R2 BY SR. GOVERNMENT PLEADER SMT.ANU SIVARAMAN R3 BY ADV. SRI.B.SURESH KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.18636 of 2008-R = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 22nd day of July, 2008. JUDGMENT Having heard the learned counsel for the petitioner and the learned Senior Government Pleader for respondents 1 and 2 and the learned counsel for the third respondent, I find no jurisdictional error or legal infirmity in the impugned proceedings which have been initiated on account of non-payment of amounts due under a loan transaction. Faced with the aforesaid situation, the learned counsel for the petitioner seeks that the petitioner may be permitted to wipe off the entire outstanding in instalments. Having heard the learned counsel on either side on this matter also, it is ordered that if the petitioner remits the entire outstanding in 18 WP(C)18636/2008 -: 2 :- equal monthly instalments payable on or before the 15th of every month commencing from August, 2008, the impugned distress action will be dropped upon payment of the entire accruals. It would also be open to the petitioner and the respondents to work out whether the loan could be closed applying the one time settlement scheme even before that. If there is default in remitting any of the instalments as afore-directed, the benefits of this judgment shall stand recalled automatically and the writ petition shall stand dismissed leaving liberty to the respondents to forthwith proceed with further action. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/230708