IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN MONDAY, THE 10^TH DAY OF MARCH 2025 / 19TH PHALGUNA, 1946 WP(C) NO. 4498 OF 2025 PETITIONER/S:

1 V. V. MATHEW AGED 70 YEARS S/O VARKEY, VADAKEKKARA HOUSE, MANARCAUD, MALAAM P. O., KOTTAYAM DISTRICT, KERALA,, PIN -

686019

2 SUSAMMA MATHEW AGED 62 YEARS W/O V. V. MATHEW, S/O VARKEY, VADAKEKKARA HOUSE, MANARCAUD, MALAAM P. O., KOTTAYAM DISTRICT, KERALA, PIN - 686019 BY ADVS.

ARUN SAMUEL JITHIN BABU A ANOOD JALAL K.J.

AMRITHA B.

RESPONDENT/S:

1 VIJAYAPURAM SERVICE CO-OPERATIVE BANK LTD NO. 4066, KOLLAM-THENI HIGHWAY, MANARCAUD, KOTTAYAM DISTRICT, KERALA, REPRESENTED BY ITS SECRETARY., PIN - 686019

2 THE SECRETARY VIJAYAPURAM SERVICE CO-OPERATIVE BANK LTD. NO.

4066, KOLLAM-THENI HIGHWAY, MANARCAUD, KOTTAYAM DISTRICT, KERALA,, PIN - 686019

3 ARBITARTION AND EXECUTION INSPECTOR-I OFFICE OF THE ASSISTANT REGISTRAR (GENERAL) OF CO-OPERATIVE SOCITIES, COLLECTORATE BUILDING, KOTTAYAM KUMILY ROAD, KOTTAYAM DISTRICT, KERALA,, PIN - 686002 BY ADVS.

Siby Chenappady ANU GEORGE(K/1793/1995)

AIBEL MATHEW SIBY(K/1376/2020)

ELANA ROSE SIBY(K/3081/2022)

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

The 2^nd petitioner availed a loan from the 1^st respondent Society. The 1^st petitioner is the guarantor. The 2^nd petitioner defaulted payment of installments and the Society initiated arbitration proceedings under the Kerala Co-operative Societies Act, 1969. Pursuant to the arbitration award, Ext.P1 notice prior to attachment was issued to the 2^nd petitioner. The petitioners have filed this writ petition for direction to the Society to permit them to clear off the liability in monthly installments.

2. This Court, by order dated 04.02.2025, stayed further proceedings pursuant to Ext.P1 for a period of one month.

3. The learned counsel for the Society, on instructions, submits that, as on today (10.03.2025), an amount of Rs.20,55,587/- 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 are willing to pay the outstanding amount in 18 equal monthly installments.

4. In the facts and circumstances of the case, there will be a direction to the petitioners to pay the outstanding amount of Rs.20,55,587/- along with accrued interest and payable charges in 18 equal monthly installments commencing from 01.04.2025.

5. It is made clear that in case of default in payment of any single installment, the petitioners will lose the benefit of this judgment and the respondents can proceed with recovery steps in accordance with law.

Writ petition is disposed of.

Sd/-

MURALI PURUSHOTHAMAN JUDGE GBG APPENDIX OF WP(C) 4498/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE AUCTION NOTICE DATED 15/01/2025 ISSUED BY THE 3RD RESPONDENT