IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR WEDNESDAY, THE 9TH JANUARY 2008 / 19TH POUSHA 1929 WP(C).No. 5688 of 2005(B) ------------------------- PETITIONER: ------------ T.R.KARUNAKARAN, AGED 55 YEARS, S/O. RAMAN, RESIDING AT THONNIPPARA, KEERITHODU P.O., IDUKKI. BY ADV. SRI.T.RAJASEKHARAN NAIR RESPONDENTS: ------------- 1. THE SENIOR INSPECTOR OF CO-OPERATIVE SOCIETY/ARBITRATOR CUM-SPECIAL SALE OFFICER, KERALA STATE CO-OPERATIVE HOUSING FEDERATION, KALOOR, ERNAKULAM. 2. IDUKKI HOUSING CO-OPERATIVE SOCIETY LTD. NO.1.155, REPRESENTED BY ITS SECRETARY IDUKKI COLONY P.O., CHERUTHONI, IDUKKI DISTRICT. R2 BY ADV. SRI.JOICE GEORGE THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) No. 5688/2005 APPENDIX PETITIONER'S EXHIBITS P1 : COPY OF RELEVANT PAGES OF PASSBOKK IN RESPECT OF ISSUANCE OF HOUSE LOAN ISSUED BY 2ND RESPONDENT SOCIETY. P2 : COPIES OF RECEIPTS ISSUED BY 2ND RESPONDENT DURING THE YEAR 2002. P3 : COPY OF RECEIPT ISSUED BY 2ND RESPONDENT DURING THE YEAR 2003. P4 : COPY OF RECEIPT ISSUED BY 2ND RESPONDENT DURING THE YEAR 2004. P5 : COPY OF AWARD DATED 14/05/2002. P6 : COPY OF AUCTION NOTIFICATION ISSUED BY 1ST RESPONDENT. // TRUE COPY // PA TO JUDGE. jg C.N.RAMACHANDRAN NAIR, J. ------------------------- WP(C) No. 5688 of 2005 --------------------------------- Dated, this the 9th day of January, 2008 J U D G M E N T Heard learned counsel for petitioner and learned standing counsel appearing for 2nd respondent. 2. Since petitioner has long period to clear the arrears of housing loan payable in instalments, and recovery is initiated only because of substantial default, and in view of the undertaking made by the petitioner to clear the accrued arrears within a reasonable time, this writ petition is disposed of granting time to petitioner to clear the accrued arrears till 31/03/2008. Petitioner will continue to pay regular instalments from April onwards. However, if petitioner commits default in clearing the accrued arrears or commits default in payment of any of the future instalment, the re-schedulement of loan done by this Court as above will stand canceled and recovery can be continued for recovering entire arrears. There will be direction to respondents to verify the payments made by petitioner and if there is short credit, give credit for the full amount paid by petitioner and give statement of balance liability to petitioner for making payment as above. (C.N.RAMACHANDRAN NAIR, JUDGE) jg