IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 7833 of 2009(O)
1. K.R.SASIKUMAR,
... Petitioner
2. K.AMMINIKKUTTY, W/O. SASIKUMAR,
Vs
1. P.V.C.CHIT FUNDS,
... Respondent
For Petitioner :SRI.LIJI.J.VADAKEDOM
For Respondent :SRI.K.JAYAKUMAR
The Hon'ble MR. Justice S.S.SATHEESACHANDRAN
Dated :16/12/2009
O R D E R
S.S.SATHEESACHANDRAN, J.
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W.P.(C).No.7833 of 2009 - O
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Dated this the 16th day of December, 2009
J U D G M E N T
Petitioners are the judgment debtors in E.P.No.20 of 2007
in O.S.No.422 of 2004 on the file of the Sub Court, Kottayam.
Decree executed is one passed for recovery of money based on a
chitty prized, and, the respondent is the decree holder. In
execution of the decree an immovable property belonging to the
2nd judgment debtor after attachment complying with the
formalities has been proceeded for sale. At that stage,
petitioners/judgment debtors have filed the above writ petition
impeaching the steps taken for sale or the property.
2. Notice being given, respondent/decree holder has
entered appearance. I heard the counsel on both sides.
3. Pursuant to orders passed by this Court from time to
time, petitioners/judgment debtors have deposited till date a sum
of Rs.2 Lakhs towards the decree debt. The outstanding liability
now, after such payment, it is submitted, is approximately
around Rs.2 Lakhs. The only plea canvassed by the learned
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counsel for the petitioners/judgment debtors at the time of
hearing is indulgence of this Court for discharging the balance
decree debt due by instalment payments. Learned counsel for
the respondent has no objection in extending the benefit of
instalment payment subject to fixation of reasonable sum as
instalments by this Court.
4. Having regard to the outstanding liability due on the
decree debt, I find that rate of instalment of Rs.20,000/- per
month for a period of 10 months would be reasonable and
appropriate. Petitioners/judgment debtors are granted
permission to discharge the decree debt by 10 equal monthly
instalments of Rs.20,000/- with such payments to commence
from the month of January, 2010 onwards. The instalment
payment as directed shall be deposited in court or paid at the
office of the respondent and receipt collected on or before 15th of
every month. In case 15th happens to be a holiday, such
deposit/payment shall be made on the next working day itself.
In the event of default in payment of even one instalment, the
decree holder will be at liberty to proceed for realisation of the
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balance decree debt in lump discarding the instalment facility
extended by this Court. Whatever outstanding amount due after
payment of th 9th instalment shall be cleared in the 10th
instalment irrespective of rate of instalment of Rs.20,000/- fixed
as above. Petitioners/judgment debtors have to make payment
for the month of April as well during the period of mid summer
vacation of the courts on or before the date fixed at the office of
the respondent and collect receipt of such payment. Court below
is directed to close the execution petition in the light of the
orders/directions given above, but, such petition shall be revived
in case there is default in complying with the instalment facility
extended, if so applied for by the decree holder.
Subject to the above observations, the writ petition is
closed.
S.S.SATHEESACHANDRAN,
JUDGE.
bkn/-