IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 1ST SEPTEMBER 2008 / 10TH BHADRA 1930 WP(C).No. 26244 of 2008(Y) -------------------------- PETITIONER: ------------ BINU.T, S/O.THANKAPPAN, AGED 34 YEARS, ORAYAMPURATH HOUSE, PULLAZHI DESOM, PULLAZHI VILLAGE, THRISSUR TALUK. BY ADV. SRI.C.A.CHACKO SMT.C.M.CHARISMA SRI.N.A.SHAFEEK RESPONDENTS: ------------- 1. ARBITRATOR CUM SALE OFFICER, (ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES) THRISSUR DISTRICT CO-OPERATIVE BANK LTD, THRISSUR-22. 2. THE DISTRICT CO-OPERATIVE BANK LTD, AYYANTHOLE BRANCH, AYYANTHOLE, THRISSUR-3, REP.BY ITS MANAGER. R1 BY SENIOR GOVERNMENT PLEADER SRI.ANU SIVARAMAN R2 BY SRI.V.G.ARUN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.26244 of 2008-Y = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 1st day of September, 2008. JUDGMENT Petitioner is one among the debtors under Ext.P1, an arbitration award passed, uncontested, on 19- 11-2004 in an arbitration proceedings initiated with reference to a loan availed in 1999. Though the petitioner states that the loan was for construction of a house, the award discloses that it was a simple loan. No amounts were deposited following that award which has become final. The execution proceedings initiated in 2005 has led to the sale notice Ext.P2 being issued on 25-7- 2008. There is no jurisdictional error or legal infirmity in the impugned proceedings. Faced with that situation, the learned counsel for the petitioner, giving up all other contentions on behalf of the petitioner and also WP(C)26244/2008 -: 2 :- giving up all other statutory remedies, pleads that the petitioner may be given a last opportunity to wipe off the outstandings in instalments. Instalment facility is part of certain considerations that may flow in given circumstances, provided parties show a bona fide interest in liquidating the outstandings. The award has been passed against two individuals who, from 1999, have apparently not repaid the loan. However, after hearing the learned counsel for the petitioner and the learned counsel for the second respondent and the learned Senior Government Pleader on behalf of the first respondent, this writ petition is ordered directing that the impugned sale will stand deferred, if the petitioner remits the entire amounts covered by Ext.P2 and accruals thereon in eight equal monthly instalments payable on or before the 10th of every month commencing from September, 2008. If there is default in remitting any of the instalments as afore- directed, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically with liberty to the WP(C)26244/2008 -: 3 :- respondents to forthwith proceed with further action without further notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/020908