IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 7TH FEBRUARY 2008 / 18TH MAGHA 1929 WP(C).No. 858 of 2008(B) ----------------------------------- PETITIONER: ------------------ ISMAIL, AGED 49 YEARS, S/O.SAIDALU, THEKKE PULLATHU, THRIPRANGOTTU P.O., MALAPPURAM. BY ADV. SRI.C.V.MANUVILSAN SRI.P.K.KHALEEMUDHEEN SRI.P.C.ANIL KUMAR SRI.DARSAN SOMANATH RESPONDENTS: ------------------------- 1. THE SPECIAL SALES OFFICER, TIRUR URBAN CO-OPERATIVE BANK LTD. F 1818, TIRUR P.O., MALAPPURAM. 2. TIRUR URBAN CO-OPERATIVE BANK LTD.F 1818 REPRESENTED BY ITS SECRETARY, TIRUR P.O., MALAPPURAM. R1 BY GOVERNMENT PLEADER SMT.M.K.PUSHPALATHA R2 BY ADV. SRI.M.SASINDRAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 07/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) NO.858/2007 APPENDIX PETITIONERS EXHIBITS EXT.P1:- COPY OF THE RECEIPT DT. 15.9.03. EXT.P2:- COPY OF THE PASS BOOK IN LOAN NO.NTPS 728. EXT.P3:- COPY OF THE LOAN NO.SMT 369. EXT.P4:- COPY OF THE NOTICE CEP FORUM NO.6. EXT.P5:- COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER EXT.P6:- COPY OF THE AUCTION NOTICE ISSUED BY THE RESPONDENTS. /TRUE COPY/ P.A. TO JUDGE tss THOTTATHIL B. RADHAKRISHNAN, J. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ W.P.(C) No. 858 of 2008-B ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Dated this the 7th day of February, 2008 J U D G M E N T Heard learned counsel for the petitioner and learned counsel for the second respondent Bank. 2. Petitioner is stated to have satisfied the condition imposed as per the interim order dated 08/01/2008. Petitioner faces recovery on the basis of an arbitration award. The execution proceedings therefore cannot be found fault with. The plea is only with regard to the violation of principles of natural injustice and other matters regarding the sale. Deposit made pursuant to the interim order and certain earlier deposits prompt me to take a view that the petitioner is anxious to avoid distress action and pay of the outstandings. Having heard the parties and having regard to the amount involved, distress action shall be dropped on condition that the petitioner remits an amount of Rs.10,000/- per month, payable on or before the 15th of every month commencing from March 2008 and W.P.(C).No.858/2008-B -: 2 :- thereby wipes of the entire outstandings/accrued incidentals. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically and the respondent will be at liberty to forthwith proceed with the recovery proceedings. This writ petition is disposed of as above. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge ms