IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.T.RAVIKUMAR WEDNESDAY, THE 22ND DECEMBER 2010 / 1ST POUSHA 1932 WP(C).No. 37852 of 2010(F) -------------------------- PETITIONER(S): --------------- JAMES T.ROY, S/O.THOMAS, KAKKAPARAYIL HOUSE, MANIMALA, KANJIRAPALLY. BY ADV. SRI.K.R.VINOD RESPONDENT(S): --------------- 1. THE GENERAL MANAGER, KOTTAYAM CO-OPERATIVE URBAN BANK LTD. NO.421, KOTTAYAM-1. 2. THE SPECIAL SALES OFFICER, KOTTAYAM CO-OPERATIVE URBAN BANK LTD. NO.421, KOTTAYAM-1. ADV.SRI.SURIN GEORGE IPE, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.T.RAVIKUMAR, J. ---------------------------- W.P.(C)No.37852 of 2010 ---------------------------- Dated 22nd December, 2010 JUDGMENT The petitioner who has availed a loan of Rs.1,00,000/- from the first respondent bank filed this writ petition on being aggrieved by the proposal on the part of the respondents to put the immovable property belonging to the petitioner which was mortgaged as security, for sale as per Ext.P6. 2. I have heard the learned counsel for the petitioner as also the learned standing counsel for the first respondent. The learned standing counsel for the first respondent submitted that an amount of Rs.39,048/- is outstanding towards the said loan account. I am of the view that the petitioner is bound to discharge the liability arising out of the aforementioned loan transaction. Therefore, this writ petition is disposed of granting liberty to the petitioner to discharge the entire liability arising out of the above loan transaction in four equal monthly instalments commencing from 31.12.2010. The balance instalments shall be paid on or before 30th day of every succeeding months. In case of failure on the part of the petitioner to pay the instalments as directed above, it will be open to the WP(C).No.37852/2010 2 respondents to proceed against the petitioner in accordance with law. In case the immovable property belonging to the petitioner is put on auction, the same shall not be confirmed till 31.12.2010. The necessity for confirmation thereafter would depend upon the action on the part of the petitioner taken for complying with the conditions mentioned above. C.T.RAVIKUMAR Judge TKS