IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR. JUSTICE A.V.RAMAKRISHNA PILLAI MONDAY, THE17H DAY OF FEBRUARY201428TH MAGHA, 1935 WP(C).No. 573 of 2012 (V) -------------------------- RP.NO.39/2010 OF KERALA CO-OP.TRIBUNAL, THIRUVANANTHAPURAM. ....... PETITIONER(S): -------------------------- SUNILKUMAR. K., S/O.KRISHNAPILLAI (LATE), AGED43 KRISHNALAYAM (THALAMADAYIL PUTHENVEEDU), KIZHAKKUMBAGHOM KARA, ETTUMANOOR P.O., KOTTAYAM DISTRICT. BY ADVS.SRI.R.KRISHNAKUMAR (CHERTHALA), SRI.PILLAI JAYAPRAKASH RAVEENDRAN. RESPONDENT(S): ---------------------------- 1. ETTUMANOOR SERVICE CO-OPERATIVE BANK LIMITED, NO.4069, REP. BY ITS SECRETARY, ETTUMANOOR P.O., KOTTAYAM DISTRICT, PIN-686 631.
2. SPECIAL SALE OFFICER, ETTUMANOOR SERVICE CO-OPERATIVE BANK GROUP, OFFICE OF THE ASSISTANT REGISTRAR OF CO-OPERATIVE SOCIETIES (GENERAL), KOTTAYAM-686 631. R1 BY ADV. SRI.C.J.JOY. R2 BY GOVT.PLEADER MR.R. RANJITH. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON1702-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs. WP(C).No. 573 of 2012 (V) APPENDIX PETITIONER'S EXHIBITS:- EXT.P1 COPY OF THE AWARD DATED1908/2008 ISSUED BY THE2D RESPONDENT. EXT.P2 COPY OF THE ORDER
DATED2801/2010 IN RP NO.39/2010 OF KERALA CO-OPERATIVE TRIBUNAL, THIRUVANANTHAPURAM. EXT.P3 COPY OF THE AUCTION NOTICE ISSUED BY THE2D RESPONDENT. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE rs. A.V.RAMAKRISHNA PILLAI, J.
= = = = = = = = = = = = = = = = = W.P(C) No.573 of 2012 = = = = = = = = = = = = = = = = = = Dated this the 17th day of February, 2014 JUDGMENT
Aggrieved by the coercive action initiated by the respondents against the petitioner, he has come up before this Court.
2. The petitioner's father, who was running a textile shop, availed a loan of 2 lakhs from the first respondent on 02.05.2002 agreeing to repay the same in 60 monthly installments, together with interest @ 14% per annum. The loan was secured by pledging his father's property. However, the father of the petitioner committed default in repayment and later, he expired.
3. Since the loan amount was not repaid as agreed, the first respondent initiated proceedings under the Co-operative Societies Act and obtained Ext.P1 award. Though the same was challenged in revision before the Co-operative Tribunal, it was partly allowed by reducing the interest to 12% per WP(C)573/12 -:2:- annum. The Tribunal allowed the petitioner and other legal heirs to clear off the liabilities in installments. Thereafter, the second respondent issued Ext.P3 auction notice intimating that the property which was pledged as security for the loan amount was scheduled to be sold in auction on 21.01.2012 for a total amount of 4,73,855/-. It is in this context, the petitioner has approached this Court.
4. This Court by order dated 9.1.2012 stayed the further proceedings pursuant to Ext.P3 sale proclamation on remitting with the 2nd respondent for payment to the first respondent a sum of 75,000/- within two weeks from that date.
5. Today when the matter came up for hearing, it was submitted for and on behalf of the petitioner that subsequent to the filing of the writ petition, the petitioner has remitted a sum of 1,85,000/- and the remaining amount together with interest is due. The learned counsel confined his argument to the limited prayer seeking permission to clear off the debts in equal monthly installments. WP(C)573/12 -:3:- Considering the entire facts and circumstances, the writ petition is disposed of directing the petitioner to clear off the balance as on today in six equal monthly installments starting from 2.4.2014. It is hereby made clear that the respondent bank shall be at liberty to proceed with the execution, if the petitioner commits default in paying anyone of the installments. Sd/- A.V.RAMAKRISHNA PILLAI JUDGE krj /True Copy/ P.A to Judge