IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 13TH OCTOBER 2008 / 21ST ASWINA 1930 WP(C).No. 17060 of 2008(E) -------------------------- PETITIONER(S): --------------- SATHYAPALAN NAIR, AGED 55 YEARS, RENJI NIVAS, MEVUNAKONAM, KALLUVATHUKAL P.O., KALLUVATHUKAL, KOLLAM (DIST). BY ADV. SRI.M.TRIPTEN RESPONDENT(S): --------------- 1. THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, ASSISTANT REGISTRAR OFFICE, KOLLAM. 2. ARBITRATOR CUM SALE OFFICER, PARAVOOR S.N.V. REGIONAL CO-OPERATIVE BANK, PARAVOOR, KOLLAM. 3. THE SECRETARY, PARAVOOR S.N.V. REGIONAL CO-OPERATIVE BANK, PARAVOOR, KOLLAM. R1, R2 BY GOVT. PELADER SRI.K.C.SANTHOSH KUMAR R3 BY ADV. SRI.B.SURESH KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.17060 OF 2008 ------------------------------------------- Dated this the 13th day of October, 2008 JUDGMENT The petitioner availed a loan from the third respondent, suffered an arbitration award and is facing proceedings in execution. It is submitted by the learned counsel appearing for the third respondent that the petitioner was given a facility by reducing interest to the tune of more that Rs.1,00,000/-, on condition that he will pay the entire outstandings before the end of the previous financial year. This was not done. Obviously, the benefit of such concession has been over. Under such circumstances, the further execution proceedings under the Kerala Co-operative Societies Act and Rules cannot be stultified. The petitioner has obeyed the interim order dated 9.6.2008 and has remitted an amount of Rs.1,50,000/-. He also states that earlier he had remitted an amount of Rs.15,000/- after Ext.P1 was issued. Giving credit to all those remittances, including that which followed the interim order, the present outstandings is above Rs.5,00,000/-. Taking that into consideration and WPC.17060/08 Page numbers repelling all other contentions, this writ petition is ordered directing that if the petitioner remits amounts at the rate of Rs.30,000/- per month, payable on or before the last working day of every month commencing from October, 2008, the impugned distress action will be withheld. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically and distress action shall follow. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.