IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN FRIDAY, THE 15TH MAY 2009 / 25TH VAISAKHA 1931 WP(C).No. 13715 of 2009(H) -------------------------- PETITIONER: --------------- O.T.SARASWATHI,SRI.RAMNIVAS, ODEYAMMADAM,CHERUKUNNU P.O., KANNUR-670 301. BY ADV. SRI.C.P.PEETHAMBARAN RESPONDENTS: --------------- 1. THE BRANCH MANAGER, KERALA STATE CO-OP.BANK LTD., R.M.APARTMENTS,SOUTH BAZAR, TALAP,KANNUR. 2. THE DEPUTY GENERAL MANAGER/ AUTHORISED OFFICER, KERALA STATE CO-OP.BANK LTD., REGIONAL OFFICE,COLOMBO COMPLEX, M.M.ALI ROAD,KOZHIKODE. BY ADV SHRI. NAGARAJ NARAYANAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. SURENDRA MOHAN, J ------------------------------------------------------------ W.P(C) NO: 13715 OF 2009-H ----------------------------------------------------------- Dated this the 15th May, 2009. JUDGMENT The petitioner had availed a loan of Rs.7 lakhs from the first respondent bank on 5.2.2004 on the security of an item of immovable property having an extent of 62.36 cents in survey No: 35/3 of Edakkad Village. The repayment of the loan is in arrears and the Bank has taken action for recovery of the loan amount by selling the mortgaged property. A copy of the writ petition has been served on the standing counsel for the respondents, Adv. Nagaraj Narayanan. 2. I have heard counsel for the petitioner and the counsel for the respondents. Counsel for the petitioner has offered to pay off the entire outstanding amount in ten equal monthly instalments. 3. In the facts and circumstances of the case I feel that the petitioner can be granted the permission to pay off the entire outstanding amounts in ten monthly instalments, the first instalment of which shall be paid on 15.6.2009 and the succeeding instalments on the 15th of each succeeding month. If the petitioner defaults any of the instalments, the bank would be free to initiate appropriate action for recovery of the entire outstanding amounts WPC 13715/2009 2 payable, in accordance with law. The writ petition is disposed of as above. K. SURENDRA MOHAN Judge jj WPC 13715/2009 3 K.K.DENESAN & V. RAMKUMAR, JJ. ---------------------------------------------------- M.F.A.NO: ----------------------------------------------------- JUDGMENT Dated: