IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN WEDNESDAY, THE 19TH JANUARY 2011 / 29TH POUSHA 1932 WP(C).No. 2211 of 2010(B) ----------------------------------- PETITIONER(S): ------------------------ 1. SABU PAUL, MANIMALAKUNNEL, VALACHIRA, KADUTHURUTHI P.O., KOTTAYAM. 2. KISHORE VARGHESE, KARAPARAMBIL, PARAMBRAM, MUTTUCHIRA P.O., KOTTAYAM. BY ADV. SRI.A.RAJASIMHAN RESPONDENT(S): ------------------------- 1. ASSISTANT REGISTRAR, CO-OPERATIVE SOCIETIES, VAIKOM, KOTTAYAM. 2. KADUTHURUTHY REGIONAL SERVICE CO-OPERATIVE BANK LTD., REPRESENTED BY ITS SECRETARY, KADUTHRUTHY, KOTTAYAM. 3. SPECIAL SALES OFFICER, KADUTHRUTHY REGIONAL SERVICE CO-OPERATIVE BANK LTD., KADUTHURUTHY, KOTTAYAM. R2 BY ADV. SRI.V.G.ARUN, SRI.T.R.HARIKUMAR. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/01/2011, ALONG WITH WPC NO. 2253 OF 2010 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss P.N.RAVINDRAN, J. --------------------------- W.P.(C) Nos. 2211 & 2253 OF 2010 -------------------------- Dated this the 19th day of January, 2011 J U D G M E N T The first petitioner in W.P.(C) No.2211 of 2010 and the petitioner in W.P.(C) No.2253 of 2010, who is also the second petitioner in W.P.(C) No.2211 of 2010 had availed separate loans from the second respondent bank on the security of land belonging to the petitioner in W.P.(C) No.2253 of 2010. When the loan amount was not repaid, the second respondent bank filed arbitration cases. The petitioners did not contest the arbitration cases and awards were passed in the arbitration cases way back in the year 2008. Even thereafter, as the petitioners did not repay the loan amount the bank initiated execution proceedings and the security was brought to sale on 28.1.2010. At that stage, these writ petitions were filed challenging the sale notices and seeking 18 months time to pay off the arrears. 2. When these writ petitions came up for admission on 27.1.2010, a learned single Judge of this Court directed, based on the submissions made at the Bar by the learned standing counsel appearing for the second respondent bank that in the event of the WPC Nos.2211 & 2253 of 2010 2 petitioners paying the entire outstanding interest together with incidental expenses, the bank shall convert the loan into a new loan. It is contended at the Bar that the petitioners did not comply with the said order though they had deposited a portion of the interest. It is also submitted that since the petitioners did not comply with the order, the security was brought to sale and sold on 25.3.2010 and purchased by the bank itself. It is also submitted that though sale has not been confirmed, till date, the petitioners have not applied to have the sale set aside under rules 82 or 83 of the Kerala Co- operative Societies Rules, 1969. 3. When these writ petition came up for hearing today, Sri. A.Rajasimhan, learned counsel for the petitioners submitted that the petitioners may be given one month's time from today to pay off the entire amount due and upon such deposit being made, the sale may be set aside and the documents of title may be released to the petitioners. The learned counsel appearing for the second respondent bank very fairly did not oppose the said submission. In such circumstances, I dispose of the writ petition with the following directions:- (i) The second respondent bank shall within two weeks from WPC Nos.2211 & 2253 of 2010 3 today inform the petitioners in writing of the amounts due from them as on the date of sale namely 25.3.2010, to have the sale set aside on deposit. (ii) The petitioners shall within one month from the date of receipt of the statement of accounts from the second respondent bank, deposit the entire amount without demur In the event of the petitioners depositing the amount demanded by the second respondent bank, the Joint Registrar of Co-operative Societies (General) Kottayam shall pass orders setting aside the sale. If the petitioners do not avail this opportunity and fail to make the payment, the said officer shall confirm the sale. In the event of the sale being set aside, the bank shall expeditiously return the documents of title to the petitioners. P.N.RAVINDRAN, (JUDGE) vps WPC Nos.2211 & 2253 of 2010 4 WPC Nos.2211 & 2253 of 2010 5