IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 5630 of 2008(T)
1. ROSILY POLY,W/O. P.P.POLY
... Petitioner
Vs
1. REGISTAR OF CO-OPERATIVE SOCIETIES
... Respondent
2. THE PARAVUR CO-OPERATIVE BANK LTD. NO. 1
3. SPECIAL SALE OFFICER/ARBITRATOR
4. DILEEP.N.V.,S/O. VELAYUDHAN,
For Petitioner :SRI.C.E.UNNIKRISHNAN
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :18/02/2008
O R D E R
THOTTATHIL B. RADHAKRISHNAN, J.
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W.P(C) No. 5630 OF 2008
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Dated this the 18th day of February, 2008
JUDGMENT
Learned Senior Government Pleader appears for
respondents 1 and 3. Notices to respondents 2 and 4 are
dispensed with, having regard to the nature of the directions to be
issued herein, preserving their right to move for review if the
judgment is against them.
2. The petitioner allegedly stood as surety and offered her
property as security for a loan availed by the 4th respondent. The
transaction is not in dispute. The arbitration award has also
become final. Therefore, the impugned recovery proceedings
cannot be challenged. However, following the listing of the sale
for Rs.1,94,000/- as on 18.12.07, an amount of Rs.1 lakh has
been remitted as evidenced by Ext.P2. Under such
circumstances, this writ petition is disposed of directing that if the
petitioner remits the remaining outstandings in five equal monthly
instalments, payable on or before the last working day of every
month commencing from February 2008, the recovery proceedings
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shall be dropped. In case of default of remittance of any of the
instalments as directed above, the benefit of this judgment will
stand recalled automatically. After remitting two instalments, if the
petitioner applies for any reduction in the total outstandings on the
basis of any circulars which may be in force, respondents 2 and 3
will consider extending such benefit as may be available in
accordance with law.
THOTTATHIL B. RADHAKRISHNAN,
JUDGE
ttb
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