-- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 17TH JANUARY 2008 / 27TH POUSHA 1929 WP(C).No. 2177 of 2008(H) ------------------------- PETITIONER: ------------ C.K.RAVEENDRAN @ RAVI, S/O.KUMARAN, CHENDHANATTIL HOUSE, P.O.PONNORE THRISSUR DISTRICT. BY ADV. SMT.E.V.MOLY RESPONDENTS: ------------- THE COCHIN CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD, NO.329, THRISSUR REPRESENTED BY ITS SECRETARY. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.2177 of 2008 ================================== Dated this the 17th day of January, 2008. JUDGMENT Having regard to the nature of the directions being issued hereunder, notice to the respondent is dispensed with, preserving his liberty to move for review of this judgment, if aggrieved. 2. Petitioner is admittedly a debtor of the respondent. According to him, the rate of interest charged is exorbitant. However, he does not dispute that amount. I do not find any legal infirmity in the initiation of proceedings, however that, the question of interest could be reconsidered by the Bank, if necessary. Under such circumstances, this writ WPC2177/2008 -:2:- petition is disposed of directing that, if the petitioner remits at the rate of Rs.20,000/- per month, payable on or before the last working day of every month, commencing from January, 2008, enforcement in terms of Ext.P1 will be held back to let the petitioner to wipe off the debts and accruals. If the petitioner remits the first two instalments in terms of the aforesaid direction, the Bank will consider Ext.P2 and extend any ameliorative provision that may be available in favour of the petitioner. If the petitioner fails to remit any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and the respondent will be at liberty to forthwith proceed with distress action. Thottathil B.Radhakrishnan, sl. Judge.