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Judgment
Prabha Sridevan, J.—The Writ Petitioner is aggrieved by the impugned order which brings his property to sale in auction for default in repayment of the loan.
The second respondent initiated the proceedings under the Tamil Nadu Cooperative Societies Act, in Dispute No.588 of 2001 dated 27.5.2002. The petitioner was found liable to pay a sum of Rs.6,41,392.50/-. The impugned order has been passed since the said amount has not been repaid.
The petitioner has the appellate remedy before the Tribunal which is the District Court at Srivilliputhur, Virudhunagar District. The petitioner cannot by pass the appellate remedy and invoke the Writ jurisdiction under Article 226 of the Constitution of India.
The learned counsel for the petitioner submits that he is afraid of that the petitioner''s property would be brought for sale in auction by virtue of the said proceedings even before the filing of the appeal and therefore, he requested that the second respondent may be directed not to proceed with his proceedings, otherwise, the petitioner will be put to irreparable hardship.
Taking into consideration of the submission made by the learned counsel for the petitioner, and also the interest of the Cooperative Society, the following order is therefore, made in the interest of the both the parties.
The petitioner shall deposit a sum of Rs.2.00 lakhs (two lakhs rupees) within four weeks from this date and file the appeal within a week thereafter before the Tribunal along with the petition for condonation of delay and proof of the deposit of the amount as ordered by this Court. Thereupon the Tribunal shall taken up the matter and dispose of it in accordance with law. There shall be a stay of the impugned order for five weeks from the date of receipt of copy of this order.
The Writ Petition is disposed of in the above manner. No costs. Consequently, the W.P.M.P.No.57121 of 2002 is closed.