IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN FRIDAY, THE 12TH MARCH 2010 / 21ST PHALGUNA 1931 WP(C).No. 7408 of 2010(A) --------------------------------------- PETITIONER(S): ----------------------- 1. K. VELAPPAN NAIR, KARUNNYA, CHAVADI NADA, VENGANOORE, NOW RESIDING AT SREEKANDA VILASOM, PANANGODE, THIRUVANANTHAPURAM. 2. S. PADMAKUMARI, W/O. VELAPPAN NAIR SREEKANDA MANDIRAM, PANANGODE, THIRUVANANTHAPURAM. BY ADV. MR.VELLAYANI SUNDARARAJU, SMT.P.MEENAKUMARI. RESPONDENT(S): ------------------------- 1. THE AUTHORISED OFFICER REPRESENTING FOR THE DISTRICT CO-OPERATIVE BANK, THIRUVANANTHAPURAM. 2. THE MANAGER THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK VIZHINJAM BRANCH, THIRUVANANTHAPURAM. 3. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, CO-OPERATIVE SOCIETIES REGISTRAR OFFICE, THIRUVANANTHAPURAM. R1 & R2 BY ADV. MR.K.G.RADHAKRISHAN, SC, TVM.DIST.CO.OP. R3 BY GOVERNMENT PLEADER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/03/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs. K. SURENDRA MOHAN, J. ------------------------------------------------------------ W.P(C) NO: 7408 OF 2010 ----------------------------------------------------------- Dated this the 12th March, 2010. JUDGMENT The petitioners are husband and wife. They had availed a loan of Rs. 3,50,000/- from the second respondent on 22.2.2006. However, the monthly instalments towards payment of the loan could not be paid and the loan is remaining in default. The bank issued a notice and took possession of ten cents of the property with a residential house therein belonging to the petitioners, as per Ext.P1 proceedings. As per Ext.P3 the third respondent has given an opportunity to the defaulted debtors to remit the defaulted instalments by way of a one time settlement. The petitioners submit that they are ready to pay the entire amount due to the bank. However, they pray for time till 30.4.2010 to make the payment. According to the first petitioner he is a government servant who is retiring from service on 31.3.2010 on attaining superannuation. He has more than six lakhs of rupees due to him by way of his retirement benefits. Therefore, he undertakes to pay the amounts due to the bank as soon as his retirement benefits are received. WPC 7408/2010 2 2. I have heard Mr. K.G.Radhakrishnan who appears for the second respondent bank also. In the circumstances of the case, I think that the petitioner can be granted the time that is sought for so that they get a chance to save their property from attachment and sale. 3. In the above circumstances this writ petition is disposed of directing the respondents to keep in abeyance all further proceedings based on Ext.P1 to sell the property of the petitioners and to recover the loan amount till 30.4.2010. The petitioners shall pay the entire amount due to bank on or before the said date failing which the bank shall be free to proceed with further steps for recovery of the amounts due, in accordance with law. K. SURENDRA MOHAN Judge jj WPC 7408/2010 3 K.K.DENESAN & V. RAMKUMAR, JJ. ---------------------------------------------------- M.F.A.NO: ----------------------------------------------------- JUDGMENT Dated: