The court allows extended time for compliance with financial obligations imposed by the Tribunal, permitting a potential one-time settlement under specific provisions, conditioned on adherence to provided timelines.

J U D G M E N T

This writ petition has been filed challenging Ext.P2 interim order on IA. No.326/2025 in Appeal No.73/2025 on the file of the Kerala Co-operative Tribunal, Thiruvananthapuram. The appeal was filed challenging the award in ARC No.24/23 dated 03-10-2024 determining the liability of the petitioner towards the Kerala State Co-operative Bank on account of credit facilities availed by the petitioner.

2. The learned counsel appearing for the respondent bank submits that he has serious objections in the challenge raised to Ext.P2 order. It is pointed out that the order itself is dated 28-05-2025 and the petitioner was required to pay an amount of Rs.2,50,000/- as a condition for stay on or before 04-07- 2025. It is submitted that the order imposes only a reasonable condition, considering the fact that the present liability of the petitioner is in excess of Rs.28 lakhs. It is submitted that the bank has no objection in considering the prayer for one time settlement in terms of Navakeraleeyum Kudishikanivarana Padhathi, 2025-26 provided an application is made for the benefit of the same immediately. It is also submitted that if the petitioner is granted one time settlement, he will have to withdraw all legal proceedings including Appeal No.73/2025 pending before the Tribunal.

3. The learned counsel for the petitioner submits that the petitioner may be permitted to approach the bank for one time settlement. He also submits that some further time may be granted for the purpose of paying the amount directed to be paid as a condition for stay in the impugned order. 4. Having heard the learned counsel for the petitioner and the learned counsel appearing for the respondent bank, this writ petition will stand disposed of directing that the petitioner shall be granted one month time from today (30-01-2026) to pay the amount directed to be paid by the Tribunal as a condition for stay. This order will not prevent the petitioner from approaching the bank for one time settlement in terms of the provisions in Navakeraleeyum Kudishikanivarana Padhathi, 2025-26. If the petitioner is desirous of settling the liability under one time settlement scheme, the application for one time settlement shall be filed within a period of one week from today. If the petitioner does not comply with the terms of one time settlement (if granted) or if he fails to remit the amount directed to be paid by the Tribunal as a condition for stay within the extended time, it will be open to the Bank to continue with the recovery proceedings.

The writ petition is disposed of as above.

Sd/-