IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 18TH JULY 2008 / 27TH ASHADHA 1930 WP(C).No. 18380 of 2008(K) -------------------------------------- PETITIONER: ------------------ SUJATHA, W/O. P.K.BALAN, PANDATH HOUSE, CHIRAYAKKEKODE VELLANIKKARA 680 654, THRISSUR DISTRICT BY ADV. SRI.N.N.SUBRAMANIAN RESPONDENTS: --------------------- 1. TRICHUR URBAN CO.OPERATIVE BANK LTD NO.87 MISSION QUARTERS, THRISSUR-1 REPRESENTED BY ITS GENERAL MANAGER 2. AUTHORISED OFFICER TRICHUR URBAN CO.OPERATIVE BANK LTD NO.87 MISSION QUARTERS, THRISSUR-1 R1, R2 BY ADV. SRI.C.D.DILEEP,SC,TRICHUR URBN CO-OPBANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.18380 of 2008-K = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 18th day of July, 2008. JUDGMENT Read the order dated 20-6-2008. The impugned proceedings are not vitiated on account of any jurisdictional error or legal infirmity since they are the outcome of ARC proceedings which have become final. Yet, after the order dated 20-6-2008, the bank has graciously agreed to reduce the interest to 12% per annum and to wipe off the penal interest and grant the petitioner four months' time from today to pay the remaining outstandings. The learned counsel for the petitioner also accepts this suggestion of the learned counsel for the bank. I am of the firm view that the ends of justice will be satisfied, if the total outstandings due from the petitioners are moulded as stated above. WP(C)18380/2008 -: 2 :- Hence, it is ordered that the amounts due from the petitioner, if paid as stated above, will be treated as sufficient to wipe off the entire liability, however that if the petitioner defaults in payment of such amounts, the respondents will be at liberty to proceed with the distress action and this judgment will stand recalled in all its terms. It is further ordered that if the appropriate officer exercising the powers of the Registrar has to approve the suggestion of the bank as stated above, the same shall be done, having regard to the facts and circumstances of this case. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/180708