IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 16TH OCTOBER 2008 / 24TH ASWINA 1930 WP(C).No. 30294 of 2008(F) -------------------------------------- PETITIONER(S): ----------------------- P.P.ABDU, S/O.UNNEEN HAJI, PARAPPARA HOUSE, POST OMACHAPUZHA, TIRUR TALUK, MALAPPURAM DISTRICT. BY ADV. SRI.SAJU.S.A. RESPONDENT(S): ------------------------- 1. THE MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD. NO.4320, REPRESENTED BY ITS GENERALA MANAGER, MALAPPURAM. 2. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. R2 BY GOVT. PLEADER SRI. K.C. SANTHOSH KUMAR, R1 BY ADV. SMT. P. VIJAYAMMA, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/10/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.30294 of 2008-F = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 16th day of October, 2008. JUDGMENT 1.Adv.Smt.P.Vijayamma takes notice for the first respondent. 2.The petitioner availed a loan from the first respondent. According to him, he could not run the brick manufacturing unit even for a day utilizing that loan. This is no excuse for the petitioner when he is called upon to repay the amounts due under the loan transaction. It appears that he had approached this Court earlier also and ultimately suffered an arbitration award which was carried to the Co-operative Tribunal. Even then, amounts were not paid. Ultimately, the bank was forced to take action under the SARFAESI Act and has issued dispossession notice under WP(C)30294/08 -: 2 :- Section 13(4). In spite of the fact that there is no jurisdictional error or legal infirmity in the impugned proceedings, the learned senior counsel for the petitioner submitted that the petitioner gives up all contentions, including the right to move statutory Tribunals or other authorities against the impugned proceedings and prays that he may be granted an opportunity to wipe off the outstandings and that having regard to the totality of the facts and circumstances, the bank may be directed to grant a reduction in the total outstandings. Having regard to the facts and circumstances, this writ petition is ordered, repelling all other contentions, however directing that if the petitioner remits an amount of Rs.7 lakhs within one month and continues to remit at the rate of Rs.3 lakhs per month payable on or before the 15th of every month commencing from December, 2008, the impugned distress action will be held back. On deposit of four instalments, the first WP(C)30294/08 -: 3 :- respondent will consider any request of the petitioner for reduction in the total outstandings and if such request is acceded to any extent, that shall be given effect to while receiving last two instalments. The time fixed above shall be treated as peremptory and shall not be extended. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will be recalled and the writ petition will be dismissed automatically enabling the first respondent to forthwith proceed with further distress action without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/201008