The court allowed the petitioner to repay the loan in installments while deferring coercive recovery actions.

JUDGMENT

The loan availed by the petitioner from the Chevayoor Service Co-operative Society Ltd fell in arrears, the Society initiated arbitration proceedings under the Kerala Co-operative Societies Act , 1969. Ext.P2 is the award.

2. Pursuant to the award Ext.P3 notice was issued to the petitioner informing him that if the dues are not cleared, the mortgaged property of the petitioner would be measured and demarcated for the purpose of auction. Challenging Exts.P2 and P3, the petitioner has filed this writ petition.

3. Sri.R.Sudheesh, the learned counsel for the respondents 1,2 and 4 submits that an amount of Rs.13,10,767/- (Rupees thirteen lakhs ten thousand seven hundred and sixty seven only) is outstanding in the loan account of the petitioner as on today (25.03.2025) and the he can be permitted to pay the said amount in reasonable installments.

4. The learned counsel for the petitioner submits that the petitioner may be permitted to pay the amount in 15 equal monthly installments.

5. In the facts and circumstances there will be a direction to the petitioner to pay the entire outstanding amount of Rs.13,10,767/- along with accrued interest and payable charges in 15 equal monthly installments commencing from 25.04.2025. If the petitioner default payment of any of the installments, it will be open to the respondents to proceed against them for recovery of the amount, in accordance with law. To enable the petitioner to repay the amount in installments as above, all coercive proceedings against them pursuant to Exts.P2 and P3 shall stand deferred.

The writ petition is disposed of with the above direction.