IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 21756 of 2006(M)
1. SUBHASH N., S/O. NEELAKANDAN
... Petitioner
Vs
1. THE ARBITRATOR, OFFICE OF THE
... Respondent
2. THE THIRUVANANTHAPURAM URBAN
3. THE KERALA CO-OPERATIVE TRIBUNAL
For Petitioner :SRI.R.RENJITH
For Respondent : No Appearance
The Hon'ble MR. Justice K.THANKAPPAN
Dated :16/08/2006
O R D E R
K.Thankappan, J.
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W.P.(C) No. 21756 of 2006
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Dated this the 16th day of August, 2006
JUDGMENT
Challenging Exts.P7 and P8 orders passed by the Tribunal, the petitioner
has approached this Court.
2. Petitioner had availed of a loan from the 2nd respondent bank and the
loan amount became due. The bank had filed a complaint before the Assistant
Registrar of Co-operative Societies for realizing the amount with interest. The 1st
respondent passed Ext.P4 award permitting the 2nd respondent bank to realize the
amount with interest. Aggrieved by the above, the petitioner filed
R.P.No.147/2006 before the 3rd respondent Tribunal. The Tribunal granted
interim stay on condition that the petitioner remits an amount of Rs.45,000/- on or
before 28-7-2006. The petitioner filed an application to extend the time for
remittance of the amount. The above application was rejected. Later the interim
stay granted was vacated. Aggrieved by the above, the petitioner filed the writ
petition.
3. The petitioner submits that he submitted a representation before the
bank requesting the benefits of one time settlement scheme, but without
W.P.(C) 21756/06 2
considering the representation the arbitration case was filed against the petitioner
for recovery of the amount. The petitioner also
submits that as he had to spend a substantial amount for the treatment of his wife,
he could not repay the amount in time. Learned counsel for the petitioner submits
that the petitioner is willing to pay the amount and some leniency may be given in
the matter and Exts.P7 and P8 may be quashed.
4. Considering the facts and circumstances of the case, this Court is of the
view that the interim stay granted by the Tribunal in I.A.No.214/2006 shall stand
revived and extended on condition that the petitioner furnishes a security for an
amount of Rs.1,00,000/- within thirty days from today to the satisfaction of the
Tribunal. Ordered accordingly. If he fails to furnish the security as aforesaid, the
interim stay granted shall stand automatically vacated.
The writ petition is disposed of as above.
K. Thankappan,
Judge.
mn.
K.Thankappan, J.
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W.P.(C) NO. Of
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JUDGMENT
16-8-2006