IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 18TH JANUARY 2008 / 28TH POUSHA 1929 WP(C).No. 2216 of 2008(L) ------------------------- PETITIONER: ------------- 1. SHAHIDA LATHEEF, SHIFAR MANZIL, VELLOOR P.O. KOTTAYAM. 2. LATHEEF RAWTHER, SHIFAR MANZIL, VELLOOR P.O., KOTTAYAM. BY ADV. SRI.LIJI.J.VADAKEDOM RESPONDENTS: ---------------- 1. THE KOTTAYAM DISTRICT CO-OP. BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, OFFICE OF THE DISTRICT CO-OP. BANK, KOTTAYAM. 2. AUTHORISED OFFICER, (UNDER THE SECURITISATION ACT, 2002), DISTRICT CO-OP. BANK, KOTTAYAM. 3. THE REGISTRAR OF CO-OP. SOCIETIES, THIRUVANANTHAPURAM. R1 BY ADV. SRI.SUNIL CYRIAC, ADV.V.G.ARUN, ADV.T.R.HARIKUMAR. R2 & R3 BY SR.GOVT.PLEADER SMT.ANU SIVARAMAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.2216 of 2008-L = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 18th day of January, 2008. JUDGMENT Having heard the learned counsel for the petitioners and the learned standing counsel for respondents 1 and 2, this writ petition is disposed of, without entering on merits, however directing that the distress action against the petitioners and their property will stand deferred, if the petitioners remit the entire outstandings, including accruals, in six equal monthly instalments payable on or before the last working day of every month commencing from January, 2008. Upon remitting three instalments, the Bank will consider whether the petitioners are entitled to any benefit by way of reduction of the total amount due. However, such decision shall not stand in the way of the petitioners WP(C)2216/08 -: 2 :- continuing to comply with the directions herein to sustain this judgment. If there is default in remitting any of the instalments as afore- directed, the benefits of this judgment shall stand recalled automatically and the Bank will be at liberty to proceed with the distress action without notice to the petitioners. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/