Sugathan vs Chittur Primary Co-Operative on 7 July, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 18998 of 2009(T)


1. SUGATHAN, S/O. LATE KITTA,
                      ...  Petitioner

                        Vs



1. CHITTUR PRIMARY CO-OPERATIVE
                       ...       Respondent

2. THE SALE OFFICER, CHITTUR PRIMARY

                For Petitioner  :SRI.SAJAN VARGHEESE K.

                For Respondent  : No Appearance

The Hon'ble MR. Justice ANTONY DOMINIC

 Dated :07/07/2009

 O R D E R
                       ANTONY DOMINIC, J.
                  -------------------------
                    W.P.(C.) No.18998 of 2009
             ---------------------------------
               Dated, this the 7th day of July, 2009

                           J U D G M E N T

The petitioner availed of a loan of Rs.50,000/- from the 1st

respondent Bank, way back in 1999. Default was committed, and

the proceedings for recovery have reached the stage of Ext.P1 notice

proposing sale of the mortgaged property. The sale is scheduled to

take place on 14/07/2009, and it is at that stage, this writ petition

is filed.

2. The learned counsel for the petitioner submits that the

liability shown in Ext.P1 is Rs.1,05,497/- with interest, and that

subsequent to the said notice, the petitioner has already paid an

amount of Rs.12,000/-. The learned counsel pleads that an

instalment facility be granted in order to enable the petitioner to

pay off the dues under Ext.P1.

3. The learned standing counsel for the respondents also

has been heard.

4. Although, the learned standing counsel for the

WP(C) No.18998/2009
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respondent Bank opposes the prayer made, I feel, having regard to

the financial stringency highlighted by the petitioner, the petitioner

should be allowed yet another opportunity to liquidate the liability

and thus save the mortgaged property from a distress sale.

5. Having regard to the above, this writ petition is disposed

of with the following directions:-

That the petitioner shall be permitted to pay the balance amount

due to the respondent Bank in six equal monthly instalments. The

first instalment shall be paid on or before 30/07/2009 and the

subsequent instalments shall be paid on or before 30th of every

succeeding month. Subject to payment as above, further

proceedings pursuant to Ext.P1 will stand deferred, and in case any

default is committed in paying the instalments as above, the

respondent bank will be free to continue the proceedings.

6. The petitioner shall produce a copy of this judgment

before the respondent Bank for compliance.

The writ petition is disposed of as above.

(ANTONY DOMINIC, JUDGE)
jg