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JAIMON JAMES v. THE JOINT REGISTRAR OF CO-OPERATIVE - WP(C) No. 25797 of 2006(U)  RD-KL 938 (29 September 2006)
IN THE HIGH COURT OF KERALA AT ERNAKULAMWP(C) No. 25797 of 2006(U)
1. JAIMON JAMES, AGED 40 YEARS,
1. THE JOINT REGISTRAR OF CO-OPERATIVE
2. THE ASSISTANT REGISTRAR OF CO-OPERATIVE
3. PALA URBAN CO-OPERATIVE BANK LTD.
4. REGIMON JAMES, S/O.JAMES,
For Petitioner :SRI.M.J.THOMAS
For Respondent : No Appearance
The Hon'ble MR. Justice K.THANKAPPAN
O R D E R
K.THANKAPPAN, J.W.P.(C)NO. 25797 OF 2006
Dated this the 29 th day of September, 2006
The petitioner stood surety to a loan availed of by his brother, the 4th respondent from the third respondent - Bank. Since the loan amount was not repaid as agreed, the third respondent took steps to recover the same by filing A.R.C.No.848 of 1999. The Arbitrator passed an award in favour of the Bank and in execution of the award, the property offered by the petitioner as security was put in public auction and as there were no prospective bidders, the Bank purchased the property. The petitioner now submits that he is willing to repay the loan amount and claims the benefits of One Time Settlement Scheme on the basis of Ext.P7 circular and has filed Ext.P8 application before the third respondent for the said purpose. The petitioner submits that Ext.P8 application is still pending and seeks a direction to the third respondent to consider the application within a reasonable time.
2. Considering the facts and circumstances of the case and the W.P.(C)NO.25797/2006 2 willingness expressed by the petitioner to repay the loan amount and also taking into account Ext.P7 circular, this Court is inclined to dispose of the Writ Petition at the admission stage itself. Accordingly, the third respondent is directed to consider Ext.P8 application filed by the petitioner and take a decision in the matter as early as possible, at any rate within 45 days from the date of receipt of a copy of this judgment, provided the petitioner remits an amount of Rs.50,000/- within one month from today. It is made clear that till a decision is taken on Ext.P8, the third respondent shall not alienate the property to any third party. The Writ Petition is disposed of as above.
(K.THANKAPPAN, JUDGE)sp/ W.P.(C)NO.25797/2006 3
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