IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 18TH AUGUST 2009 / 27TH SRAVANA 1931 WP(C).No. 22777 of 2009(N) -------------------------- PETITIONER(S): --------------- PANKAJAKSHAN,S/O.PARAMESWARAN, NIKARTHIL VEEDU,VAYALAR P.O., CHERTHALA,ALAPPUZHA DISTRICT. BY ADV. SRI.B.S.SURESH (CHIRAKKARA) RESPONDENT(S): --------------- 1. CO-OPERATIVE INSPECTOR A & E 11, OFFICE OF THE ASST.REGISTRAR (G) OF CO-OPERATIVE SOCIETIES,CHERTHALA. 2. SECRETARY, VAYALAR EAST SERVICE CO-OPERATIVE BANK (LTD) 1328, VAYALAR,CHERTHALA. ADV. SRI.SARVOTHAMAN FOR R2 MR.K.S.MOHAMMED HASHIM, GOVERNMENT PLEADER THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 18/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WPC NO.22777/2009 APPENDIX PETITIONER'S EXHIBITS P1 : COPY OF FRONT PAGE OF the DAILY DEPOSIT PASSBOOK FROM 31/05/04. P2 : COPY OF FRONT PAGE OF 2ND PASS BOOK ON DAILY DEPOSIT FROM 03/02/07. P3 : COPY OF FIRST PAYMENT OF THE CHITTY TRANSACTION WITH R2 DATED FROM 08/10/2001. P4 : COPY OF 1ST PAYMENT PAGE OF THE CHITTY OF THE WIFE OF THE PETITIONER WITH R2 BANK DATED 08/02/2002. P5 : COPY OF AUCTION NOTICE IN E.P.NO.271/04. P6 : COPY OF AUCTION NOTICE IN E.P.NO.270/04 AUCTION DATED 28/08/09. P7 : COPY OF THE AUCTION NOTICE IN E.P.NO.272/04 AUCTION DATED 28/08/09. P8 : COPY OF AUCTION NOTICE IN E.P.NO.269/2009 AUCTION DATED 28/08/2009. P9 : COPY OF NOTICE ISSUED BY R1 INTIMATING THE DEMARCATION OF THE PROPERTY. P10 : COPY OF REPRESENTATION GIVEN BY THE PETITIOENR TO R1 DATED 05/08/2009. //TRUE COPY// PA TO JUDGE. jg ANTONY DOMINIC, J. ------------------------- W.P.(C.) No.22777 of 2009 --------------------------------- Dated, this the 18th day of August, 2009 J U D G M E N T Heard both sides. 2. Admittedly, the petitioner had availed of a loan of rupees one lakh on 21/01/2002 from the respondent Bank. Default was committed, and the Bank filed ARC No.269/04 resulting in an award in its favour. Although the benefit of One Time Settlement Scheme was extended to the petitioner, that also was not availed of by the petitioner. Finally, by Exts.P5 & P8, proceedings have been initiated for auctioning the mortgaged property and the auction is scheduled to be held on 28/08/2009. These notices were issued on 15/07/2009. On publication of the notices, the petitioner filed Ext.P10 representation to the 1st respondent seeking time for payment. At that stage, this writ petition is filed complaining that while response to Ext.P10 was not forthcoming proceedings for auction is being continued. 3. The learned counsel appearing for the respondents WP(C) No.22777/2009 -2- points out that after the availing of the loan, the petitioner has paid only an amount, which is less than Rs.3,000/-. It is stated that it was on account of the default thus committed that the Bank had to initiate proceedings for auction of the mortgaged property for recovery of the dues. 4. Having regard to the submissions made at the bar, I cannot find fault with the respondents for initiating proceedings evidenced by Exts.P5 & P8. Be that as it may, now that the petitioner submits that he is desirous of liquidating the liability in instalments, and thus save the mortgaged property from a distress sale, I am inclined to give the petitioner yet another chance to salvage the property. 5. Accordingly, I direct that if the petitioner pays 1/4th of the amount due before 11 A.M. on 28/08/2009, the auction now scheduled as per Exts.P5 & P8 will be adjourned. It is directed that if the petitioner complies with the above, he will be allowed to remit the balance amount due in five equal monthly instalments. The first instalment shall be paid on or before 28/09/2009, and subsequent instalments shall be paid on or before 28th day of every succeeding WP(C) No.22777/2009 -3- month. Subject to payment of the instalments as above, auction shall not be held. In case any default is committed in paying any one of the instalments as above, the Bank will be free to continue the proceedings without any obstruction. The writ petition is disposed of as above. (ANTONY DOMINIC, JUDGE) jg