Rosily Poly vs Registar Of Co-Operative … on 18 February, 2008

       

  

  

 
 
  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.
                      -------------------------------
                    W.P(C) No. 5630 OF 2008
                    -----------------------------------
             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

WPC No. 5630 OF 2008
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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

WPC No. 5630 OF 2008
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