WP(C) NO. 7969 OF 2025 : 1 : 2025:KER:26638 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 7969 OF 2025 PETITIONERS: 1 RATNAKARAN. M, AGED 83 YEARS S/O. VELAYUDHAN, MAMIYIL HOUSE, PANTHEERANKAVU (PO), KOZHIKODE, PIN - 673019 2 ROHITH. M,AGED 45 YEARS S/O. RATNAKARAN. M, MAMIYIL HOUSE, PANTHEERANKAVU (PO), KOZHIKODE, PIN - 673019 BY ADV K.PRAVEEN KUMAR RESPONDENTS: 1 THE PANTHEERANKAVE SERVICE CO-OPERATIVE BANK LTD (NO. 2110), REPRESENTED BY ITS SECRETARY, MATHRA ROAD, PANTHEERANKAVE (PO), KOZHIKODE, PIN - 673019 2 SPECIAL SALES OFFICER, PANTHEERANKAVE SERVICE CO-OPERATIVE BANK LTD OFFICE OF THE ASSISTANT REGISTRAR (GENERAL), TALUK OFFICE ROAD, OPP. SAHAKARANA BHAVAN, PUTHIYARA (PO), KOZHIKODE, PIN - 673004 BY ADVS. R.SUDHISH TENISON THOMAS(K/319/1994) M.MANJU(K/003562/1999) THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 7969 OF 2025 : 2 : 2025:KER:26638 JUDGMENT The 2nd petitioner had availed a loan from the 1st respondent Society for which the 1st petitioner stood as guarantor. On default of payment of installments, the Society initiated arbitration proceedings under the Kerala Co- operative Societies Act, 1969. Pursuant to the award, Ext.P1 notice prior to attachment was issued to the 2nd petitioner. Ext.P2 is the notice informing the 1st petitioner that, the mortgaged property would be measured and demarcated for the purpose of auction. Challenging Exts.P1 and P2, the petitioners have filed this writ petition. They have also sought for direction to the Society to permit them to clear off the entire liabilities in WP(C) NO. 7969 OF 2025 : 3 : 2025:KER:26638 installments. 2. When this writ petition came up for consideration today, learned counsel for the Society, on instructions, submitted that, as on today (27.03.2025), an amount of Rs.63,91,993/- is outstanding in the loan account and the petitioners can be permitted to pay the said amount in reasonable installments. 3. The learned counsel for the petitioners submits that the petitioners may be permitted to pay the outstanding amount in 20 equal monthly installments. In the facts and circumstances of the case, this writ petition is disposed of with the following directions: (1) The petitioners shall pay the outstanding amount of WP(C) NO. 7969 OF 2025 : 4 : 2025:KER:26638 Rs.63,91,993/- along with accrued interest and applicable charges in 20 equal monthly installments commencing from 02.05.2025. (2) If the petitioners default payment of any of the installments, it will be open to the respondents to proceed against them, for the recovery of the amount in accordance with law. (3) To enable the petitioners to remit the installments, all coercive proceedings against them shall stand deferred. Sd/- MURALI PURUSHOTHAMAN JUDGE SB WP(C) NO. 7969 OF 2025 : 5 : 2025:KER:26638 APPENDIX PETITIONER EXHIBITS Exhibit P1. TRUE COPY OF THE NOTICE BEARING NO. EP. NO.1142/2024 DATED 05-12-2024 ISSUED BY THE 2ND RESPONDENT TO THE 2ND PETITIONER Exhibit P2. TTRUE COPY OF THE NOTICE DATED 11-02-2025 IN EP. NO. 1142/24 ISSUED BY THE 2ND RESPONDENT TO THE 1ST PETITIONER Exhibit P3. TRUE COPY OF THE STATEMENT OF THE ACCOUNT OF THE 1ST PETITIONER DATED 20-02-2025