IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 16TH SEPTEMBER 2009 / 25TH BHADRA 1931 WP(C).No. 24766 of 2009(M) PETITIONER(S): 1. MOHANAN PILLAI, MOHANA VILASAM, ARUKANJIRAM, PULIYOORKONAM P.O., PALLICKAL-KILIMANOOR, THIRUVANANTHAPURAM DISTRICT. PIN-695 604. 2. LALITHAMMA, W/O.MOHANAN PILLAI, MOHANA VILASAM, ARUKANJIRAM, PULIYOORKONAM P.O., PALLICKAL-KILIMANOOR, THIRUVANANTHAPURAM DISTRICT. PIN-695 604. BY ADV. SRI.C.R.SIVAKUMAR SMT.NIKHILA SOMAN RESPONDENT(S): 1. THE STATE OF KERALA, REP.BY THE SECRETARY, DEPARTMENT OF CO-OPERATION, SECRETARIAT, THIRUVANANTHAPURAM. 2. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE OF THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 3. THE SECRETARY, THE KILIMANOOR CO-OPERATIVE BUSINESS & RURAL DEVELOPMENT BANK LTD.NO.T.316, KILIMANOOR, THIRUVANANTHAPURAM. 4. THE SPECIAL SALE OFFICER, THE KILIMANOOR CO-OPERATIVE BUSINESS & RURAL DEVELOPMENT BANK LTD.NO.T.316, KILIMANOOR, THIRUVANANTHAPURAM. 5. THE VILLAGE OFFICER, VILLAGE OFFICE, MADAVOOR, KILIMANOOR, THIRUVANANTHAPURAM. ADV. SRI.NAGARAJ NARAYANAN FOR R3, R4 SRI.SAIJO HASSAN FOR R3, R4 SRI.SABU SREEDHARAN FOR R3, R4 SRI.BENOJ C AUGUSTIN FOR R3, R4 SRI.PRATHAP PILLAI FOR R3, R4 GOVT. PLEADER SRI. K.C. SANTHOSH KUMAR. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 24766 of 2009 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 16th September, 2009. J U D G M E N T The petitioners are defaulters in repayment of loan amounts due to the 3rd respondent-Co-operative Bank. The Bank initiated proceedings for recovery, which ended in sale of the mortgaged properties. The petitioners approached the Bank for avoiding the sale. By Ext. P5, the Bank informed the petitioners that if the petitioners pay the sale amount with 5% thereof within one month, the Bank is prepared to re-convey the property to the petitioners. The petitioners are challenging that order in this writ petition. 2. The petitioners' contention is that in spite of their best efforts, they are unable to pay the entire amount in lump sum. The petitioners are prepared to pay the amounts due in instalments. 3. Counsel for the Bank stoutly opposes the same. According to counsel, now that the entire sale proceedings are over and there is no irregularity whatsoever in the sale, the petitioners cannot demand return of the property without payment of the amounts in a lump sum. However, the Bank is still prepared to return the property to the petitioners if the petitioners pay the amounts as demanded in Ext. P5. 4. I have considered the rival contentions in detail. 5. In the facts and circumstances of the case, I am inclined to direct the 3rd respondent to give the petitioners another opportunity to pay the amounts in instalments insofar as no third party rights are involved, since the Bank themselves have purchased the property in the sale proceedings. Accordingly, the writ petition is disposed of with the following directions: The petitioners shall pay an amount of Rs. 3 lakhs before 30-9-2009. The balance amounts due shall be paid in six equal monthly instalments starting from 1-11-2009. Every subsequent instalment shall be paid on the first working day of every succeeding W.P.C. No. 24766/09 -: 2 :- month. On payment of the entire amounts due, the sale would stand set aside and the property would be re-conveyed to the petitioners. However, if the petitioners commit default in payment of either Rs. 3 lakhs and the subsequent instalments, it would be open to the respondents to take further steps on the basis of the sale. Sd/- S. Siri Jagan, Judge. Tds/ [True copy] P.S to Judge.