IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 30756 of 2008(J)
1. RAMACHANDRAN, S/O. RAGHAVAN,
... Petitioner
Vs
1. THE SPECIAL SALE OFFICER,
... Respondent
2. THE GENERAL MANAGER, THE THRISSUR
3. THE BRANCH MANAGER,
For Petitioner :SRI.V.M.KRISHNAKUMAR
For Respondent : No Appearance
The Hon'ble MR. Justice S.SIRI JAGAN
Dated :22/10/2008
O R D E R
S.SIRI JAGAN, J
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W.P(C)No.30756 of 2008
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Dated this the 22nd day of October, 2008.
J U D G M E N T
The petitioner is aggrieved by Ext.P1 proceedings for sale
of the petitioners property for recovery of amounts due under
a loan taken from the Thrissur District Co-opertive Bank, as
per an award in proceedings under Section 69 of the Kerala Co-
operative Societies Act. The petitioner’s contention is that the
petitioner is entitled to reduction in interest as per Ext.P2
Government Circular.
2. The learned Standing Counsel appearing for the
respondents oppose the prayers. According to him, after the
award is passed under Section 69, the petitioner cannot claim
reduction in interest. The only remedy of the petitioner is to
file an appeal against the award. The period for filing appeal is
also over, since this is a 1998 loan and arbitration award was
passed in 2001, is the contention raised by the Counsel for the
respondents.
3. I am satisfied that the petitioner cannot now claim the
relief prayed for, in so far as the arbitration award has become
final. In view of the above circumstances, the petitioner seeks
W.P(C)No.30756 of 2008 – 2 –
permission to pay off the amounts in instalments. This is also
opposed by the Counsel for the respondents, who would submit
that being a loan of 1998, there is no justification in permitting
the petitioner to pay the amounts in instalments.
4.Having heard both sides, I feel that some more leniency
can be shown to the petitioner in the matter of payment of the
amounts in instalments. Accordingly, I direct the respondents
to permit the petitioner to pay off the amounts due as per
Ext.P1, with future interest, in seven equal monthly
instalments starting from 15.11.2008. Every subsequent
instalment shall be paid on the first working day of after 14th of
every succeeding month, till the entire amount is paid off. If
the petitioner pays the instalments in time as directed above,
the sale contemplated under EXt.P1 shall be adjourned.
However, if the petitioner commits default in payment of any
one of the instalments, it would be open to the respondents to
continue proceedings as per Ext.P1, without having to issue
any fresh notice or proceedings in that regard.
This writ petition is disposed of as above.
S.SIRI JAGAN, JUDGE
rhs