IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 19TH SEPTEMBER 2008 / 28TH BHADRA 1930 WP(C).No. 23818 of 2007(I) -------------------------------------- PETITIONERS: --------------------- 1. ARIFA BEEVI, D/O.MUHAMMED KUNJUASHAN, MADAKKOTTATHIL VEEDU, KODATT, VILAVOORKONAM (PO), KALLUVATHUKKAL. 2. SHAJEER KHAN, S/O. MOHAMMED ISMAIL, ALLAMAN, VARINJAM, KARAMKODU. BY ADV. SRI.NAGARAJ NARAYANAN SRI.SAIJO HASSAN SRI.RAJAN VELLOTH SRI.A.S.SABU RESPONDENTS: ------------------------- 1. THE SECRETARY, NADAKKAL SERVICE CO-OPERATIVE BANK LIMITED, KALLUVATHUKKAL. 2. SPECIAL SALES OFFICER, NADAKKAL SERVICE CO-OPERATIVE BANK LIMITED, KALLUVATHUKKAL. ADV. SRI.VINOY VARGHESE KALLUMOOTTILL, SC FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 19/09/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.23818/2007 I APPENDIX PETITIONER'S EXHIBIT: EXT.P1: COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DTD. 10/07/2007. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.23818 OF 2007 ------------------------------------------- Dated this the 19th day of September, 2008 JUDGMENT Petitioners availed a loan from the first respondent and defaulted repayment. That resulted in an arbitration award and resultant recovery proceedings. I do not find any jurisdictional error or legal infirmity in the impugned proceedings. The petitioners have deposited an amount of Rs.40,000/- following the interim order. On such basis, it is submitted that they may be given an opportunity to pay off the remaining instalments. In the result, repelling all other contentions, this writ petition is ordered directing that the petitioners will be permitted to pay off the remaining amounts, including accruals, in five equal monthly instalments, payable on or before the last working day of every month, commencing from September, 2008. However, if there is default in remitting any of the aforesaid instalments, the benefit of this judgment shall stand recalled automatically and distress action shall follow. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.