IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN THURSDAY, THE 10TH FEBRUARY 2011 / 21ST MAGHA 1932 WP(C).No. 35737 of 2010(N) -------------------------- PETITIONER(S): --------------- 1. THOMAS JOSEPH(M.NO.1524),ALAMCHERIL, VEZHAPRA.P.O,RAMANKERY,ALAPPUZHA DISTRICT. 2. A.J.JOSEPH(M.NO.356),ALAMCHERIL, VEZHAPRA.P.O,RAMANKERY,ALAPPUZHA DISTRICT. BY ADV. SRI.N.RAGHURAJ SMT.K.AMMINIKUTTY RESPONDENT(S): --------------- 1. THE CHAMBAKKARA SERVICE CO-OPERATIVE BANK LTD.NO.3511,KARUKACHAL,KOTTAYAM DISTRICT, PIN-686540,REPRESENTED BY IT'S SECRETARY. 2. THE ARBITRATOR/SPECIAL SALE OFFICER, KANGAZHA SERVICE CO-OPERATIVE BANK GROUP, O O/O THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES,CHANGANASSERY,KOTTAYAM DISTRICT. * 3. SPECIAL SALE OFFICER,CHAMBAKKARA SERVICE CO-OPERATIVE BANK LTD.NO.3511,KARUKACHAL, KOTTAYAM DISTRICT,PIN-686540. (R3 DELETED FROM THE PARTY ARRAY AS PER ORDER IN I.A.NO.1796/2011 DATED 10.2.2011) BY ADV. SRI.P.N.MOHANAN FOR R1 BY GOVT. PLEADER SRI.M.A.ASIF. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/02/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.N. RAVINDRAN, J. ------------------------------- W.P.(C) No.35737 OF 2010 ------------------------------- Dated this the 10th day of February, 2011 J U D G M E N T The petitioners had availed loans from the first respondent bank. When they defaulted payment, the bank filed A.R.C.Nos.246 of 2010 and 247 of 2010 which led to the passing of Exts.P1 and P1(a) awards on 28.5.2010. The awards were passed ex parte as the petitioners did not appear and contest. In this writ petition, the petitioners seek an opportunity to pay the award amount in instalments in order to avert sale of the security. 2. When the writ petition came up for hearing today, Sri.P.N.Mohanan, the learned standing counsel appearing for the first respondent bank submitted that the bank is interested only in realising the amount payable under the awards and if the petitioners pay the amount promptly, the bank will not take steps to execute the awards. In the light of the said submission and having regard to the willingness expressed by the petitioners to pay the award amount in instalments, I dispose of the writ petition with the following directions. 1. The first respondent shall within two weeks from today inform the petitioners in writing of the amount due from them as on 28.2.2011 in terms of Exts.P1 and P1(a) awards. While determining the amounts payable as on 28.2.2011, the bank shall also take into account the loan waiver scheme, if any, in W.P.(C) No.35737 of 2010 2 force and also the orders/circulars, if any, issued by the Government/Registrar of Co-operative Societies granting waiver of interest. 2. The petitioners shall upon receipt of the intimation from the bank pay the amounts demanded without protest in six equal monthly instalments. The first instalment shall be paid on or before 4.4.2011 and the remaining instalments on the 4th of every succeeding English calendar month. If the 4th of any month is a holiday, payment shall be made on the next working day. 3. If the petitioners commit default in payment of any two consecutive instalments, it will be open to the first respondent bank to proceed with the execution of the awards. 4. The bank shall on payment of last of the instalments inform the petitioner of any further amount due towards interest during the period from 1.3.2011 till the date of payment of the last instalment, and the petitioners shall pay the said amount within one month from the date of receipt of the intimation. 5. Upon payment of the entire amount due in the manner indicated above, the bank shall return the documents of title, if they are not required to retained in connection with any other loan. P.N. RAVINDRAN, JUDGE. nj.