IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 12TH FEBRUARY 2008 / 23RD MAGHA 1929 WP(C).No. 4077 of 2004(I) ----------------------------------- PETITIONERS: ------------------- 1. K.K.ABRAHAM, AGED 54 YEARS, S/O. PUNNOOSE KURIAN, KALLUKEERUMALAYIL, THURUTHICKAD P.O., MALLAPPALLY. 2. BIJU ABRAHAM, AGED 27 YEARS, S/O. K.K.ABRAHAM, KALLUKEERUMALAYIL, THURATHICKAD P.O., MALLAPPALLY TALUK. 3. SAJI THOMAS, KATTAKARA HOUSE, THURUTHIKAD KARA, KALLUPARA, MALLAPPALLY TALUK. BY ADV. SRI.V.PHILIP MATHEW RESPONDENTS: ----------------------- 1. ARBITRATION & EXECUTION INSPECTOR, OFFICE OF THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES, TIRUVALLA. 2. THE CHANGANOOR SERVICE CO-OP.BANK LTD. NO.A-149, REPRESENTED BY ITS SECRETARY, MALLAPPALLY TALUK. 3. REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. R2 BY ADV. SRI.P.C.SASIDHARAN R1 & R3 BY GOVERNMENT PLEADER SMT.M.K.PUSHPALATHA THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 12/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) NO.4077/2004 APPENDIX PETITIONERS EXHIBITS EXT.P1:- COPY OF THE PLAINT FILED BY THE 2ND RESPONDENT AGAINST THE FIRST PETITIONER BEFORE THE ASSISTANT REGISTRAR OF CO- OPERATIVE SOCIETIES, MALLAPPALLY. EXT.P2:- COPY OF THE PLAINT FILED AGAINST THE 2ND PETITIONER. EXT.P3:- COPY OF THE AWARD PASSED AGAINST THE FIRST PETITIONER SUIT NO. 71/02 DT. 17.10.02 EXT.P4:- COPY OF THE AWARD PASSED AGAINST THE 2ND PETITIONER SUIT NO. 72/02 DT. 17.10.02. EXT.P5:- COPY OF THE E.A. DEMAND NOTICE NO.28/04. EXT.P6:- COPY OF THE EA. DEMAND NOTICE NO.29/04. EXT.P7:- COPY OF THE REVISION PETITION SUBMITTED BY PETITIONERS DT. 24.1.04 TO THE 3RD RESPONDENT. /TRUE COPY/ P.A. TO JUDGE tss Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.4077 of 2004 ================================== Dated this the 12th day of February, 2008. JUDGMENT Petitioners challenge proceedings in execution of two arbitration awards under the Kerala Co- operative Societies Act, 1969. Each of those awards were passed in proceedings referable to loans of Rs.5,000/- each. Though the learned counsel for the Bank states that the loans were for business purpose, the nature of business for which the loan was availed was not disclosed. I notice only in the context of the fact that the amount taken on loan was only Rs.5,000/- each. Be that as it may, after suffering the award in 2002, execution proceedings were initiated and thereafter in 2004, the petitioners filed Ext.P7 before the third respondent. But, as rightly contended by the third respondent in the counter affidavit, the revisional authority is the Co-operative Tribunal. WPC4077/2004 -:2:- As of now and even at the time of Ext.P7, such proceedings before the Co-operative Tribunal had also become time-barred. The complaint of the petitioners is that they are agriculturists and they are unable to repay the amount and still further they are not given the benefit of certain claims in Ext.P7. It is also their demand that the payment should be first credited towards the principal. 2. The question of crediting the amounts already paid either towards principal or towards interest is a matter that would be guided by the agreement between the parties and any binding law. With the passage of time, the petitioners obviously do not have any legal remedies. At the same time, it cannot also be brushed aside when the petitioners say that they are really unable to repay. Under such circumstances, it is directed that the second respondent Bank will consider any WPC4077/2004 -:3:- request of the petitioners for slashing any portion of the interest and other incidentals and give them the facility to pay off the entire outstandings as the Bank may decide. Such a decision shall be taken if the petitioners make a representation before the second respondent Bank within a period of three weeks from now. Recovery proceedings against the petitioners will stand deferred until such decision is taken provided the petitioners deposit an amount of Rs.3,000/- within a period of three months. Thottathil B.Radhakrishnan, Judge. sl.