Kerala High Court
Jomon Xavier vs Idukki District Co-Operative Bank ...
Author: K. Vinod Chandran
Bench: K.Vinod Chandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN
TUESDAY, THE 21ST DAY OF MARCH 2017/30TH PHALGUNA, 1938
WP(C).No. 3292 of 2017 (J)
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PETITIONER:
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JOMON XAVIER,
S/O.XAVIER, AGED 36 YEARS, ANCHERIL HOUSE,
VALARA P.O., 10TH MILE, ADIMALI,
IDUKKI DIST.
BY ADV. SRI.LATHEESH SEBASTIAN
RESPONDENT(S):
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1. IDUKKI DISTRICT CO-OPERATIVE BANK LIMITED,
REPRESENTED BY THE GENERAL MANAGER,
HEAD OFFICE, IDUKKI COLONY P.O.,
IDUKKI - 685602.
2. THE AUTHORIZED OFFICER,
UNDER THE SARFAESI ACT,
IDUKKI DISTRICT CO-OPERATIVE BANK LIMITED,
HEAD OFFICE, IDUKKI COLONY P.O.,
IDUKKI - 685602.
3. THE BRANCH MANAGER,
IDUKKI DISTRICT CO-OPERATIVE BANK LTD.,
ADIMALI MAIN BRANCH, IDUKKI.685586.
4. K.U.DINESH KUMAR
KALLOONNIUTHAMATHIL HOUSE (TALUK HOSPITAL QUARTERS),
ADIMALY, IDUKKI DISTRICT 685586.
R1-R3 BY ADV. SRI.P.C.CHACKO, SC
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 21-03-2017, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
K.V.
WP(C).No. 3292 of 2017 (J)
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APPENDIX
PETITIONER(S)' EXHIBITS
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EXHIBIT-P1: TRUE COPY OF THE AUCTION NOTICE ISSUED BY THE 2ND
RESPONDENT DATED 18.10.16.
EXHIBIT-P2: TRUE COPY OF THE ORDER OF THE GOVERNMENT OF KERALA.
EXHIBIT-P3: TRUE COPY OF THE REPRESENTATION OF THE PETITIONER.
RESPONDENT(S)' EXHIBITS
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R3(A) COPY OF THE JUDGMENT DATED 18.2.2016 IN
WPC NO 6048/2016 OF THIS HON'BLE COURT.
/TRUE COPY/
P.A.TO JUDGE
K.V.
K. VINOD CHANDRAN, J.
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W.P.(C)No.3292 of 2017 - J
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Dated this the 21st day of March, 2017
J U D G M E N T
The petitioner is aggrieved with the sale carried out by the respondent Bank of the mortgaged property, as seen from Ext.P1. The petitioner submits that the entire loan amounts would be settled within two months from 01.03.2017. The Bank had conducted sale of the property as per Ext.P1 and the 4th respondent had successfully bid in acution. This Court had issued notice to the 4th respondent, which though served has not been responded to. There is no appearance for the 4th respondent.
2. The sale was conducted on 29.11.2016 and on the very same day Rs.2,25,000/- being 25% of the bid amount of Rs.9,50,000/- was paid by the 4th respondent purchaser. The balance consideration has to be paid within 30 days and the 2 W.P.(C)No.3292/2017 same has not been paid. The 4th respondent obviously is aware of the present proceedings. The Bank also submits that the balance consideration was not accepted, only for reason of the pendency of the writ petition.
3. On the undertaking of the petitioner, it is directed that the petitioner shall deposit the entire arrears due as on 01.05.2016 in the loan account. The arrears are said to be Rs.9,27,297/- as on the date of sale. When the sale is set aside, necessarily, interest would accrue and so would the charges for carrying out the sale proceedings be a liability on the petitioner. The Bank shall hence issue a statement of account, showing the total amount due as on 01.05.2017, within two weeks from today. The Bank shall also include in the statement, the charges due from the petitioner. The petitioner shall pay the said amounts along with an additional amount of Rs.12,000/-, as compensation to the 4th respondent 3 W.P.(C)No.3292/2017 calculated as interest @ of 10% for Rs.2,25,000/-. On such deposit, the Bank shall refund Rs.2,37,000/- which includes Rs.12,000/- as compensation. The sale proceedings shall then be set aside. However, if the amounts are not paid, then the 4th respondent shall be directed to deposit the balance consideration within 30 days from 02.05.2017 and the sale shall be confirmed.
The writ petition would stand disposed of.
Sd/-
K. VINOD CHANDRAN, JUDGE SB/21/03/2017 // true copy // P.A to Judge