2025:KER:25169 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN MONDAY, THE 24TH DAY OF MARCH 2025 / 3RD CHAITHRA, 1947 WP(C) NO. 24088 OF 2024 PETITIONER: RAJEEV MATHEW AGED 50 YEARS S/O. MATHEW, THUKKILIL HOUSE, POIKKATTUSSERRY, CHENGAMANAD, ERNAKULAM DISTRICT, PIN – 683 578. BY ADV P.M.ARUN DAS RESPONDENTS: 1 CHENGAMANAD SERVICE CO-OPERATIVE BANK REPRESENTED BY ITS SALE OFFICER/SECRETARY, CHENGAMANAD, ERNAKULAM DISTRICT, PIN – 683 578. *ADDL. R2 NEDUMBASSERY PANCHAYATH SERVICE CO-OPERATIVE BANK REPRESENTED BY ITS MANAGER/SECRETARY, NEDUMBASSERRY PANCHAYAT SERVICE CO-OPERATIVE BANK, NEDUMBASSERRY, ERNAKULAM DISTRICT PIN – 683 585. *IS IMPLEADED AS THE ADDL. R2 AS PER ORDER DATED 24.03.2025 IN I.A NO.1 OF 2024. BY ADVS. AJAY KRISHNAN S. SAISANKAR.S THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:25169 WP(C) NO.24088 OF 2024 2 JUDGMENT The loan availed by the petitioner from the 2nd respondent Society fell in arrears on account of the default of payment of installments and the Society initiated arbitration proceedings under the Kerala Co-operative Societies Act, 1969. Pursuant to the Award, Ext.P1 demand notice was issued to the petitioner. The petitioner has filed this writ petition for a direction to the Society to grant him two year time to pay the dues. 2. The learned counsel for the Society submits that, as on today (24.03.2025), an amount of Rs.49,76,822/- is outstanding in the loan account of the petitioner and the petitioner 2025:KER:25169 WP(C) NO.24088 OF 2024 3 can be permitted to pay the said amount in reasonable installments. 3. The learned counsel for the petitioner submits that the petitioner may be permitted to pay the outstanding amount in eighteen equal monthly installments. 4. In the facts and circumstances of the case, there will be a direction to the petitioner to pay the outstanding amount of Rs.49,76,822/- in eighteen equal monthly installments commencing from 15.04.2025 along with accrued interest and applicable charges. If the petitioner defaults payment of any of the installments, it will be open to the respondents to proceed against him for recovery of the amount, in accordance with law. To enable the petitioner to repay the amount in 2025:KER:25169 WP(C) NO.24088 OF 2024 4 installments as above, all coercive proceedings against him pursuant to Ext.P1 shall stand deferred. The writ petition is disposed of. Sd/- MURALI PURUSHOTHAMAN JUDGE SPR 2025:KER:25169 WP(C) NO.24088 OF 2024 5 APPENDIX PETITIONER’ S EXHIBITS :- EXHIBIT P1 THE TRUE COPY OF THE NOTICE OF SALE ISSUED BY THE RESPONDENT TO THE PETITIONER. RESPONDENT S EXHIBITS: - NIL.