Kerala High Court
Joju Varghese vs The Trichur Urban 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
WEDNESDAY, THE 23RD DAY OF MAY 2012/2ND JYAISHTA 1934
WP(C).No. 18308 of 2008 (D)
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PETITIONER:
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JOJU VARGHESE, AGED 38, S/O.VARGHESE,
AMBUKAN HOUSE, CAICO ROAD, CHELAKOTTUKARA P.O,
KURIACHIRA, THRISSUR - 6.
BY ADV. SRI.G.SREEKUMAR (CHELUR)
RESPONDENTS:
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1. THE TRICHUR URBAN CO OPERATIVE BANK LIMITED,
POST BOX NO.86, HEAD OFFICE MISSION QUARTERS,
THRISSUR,
REPRESENTED BY ITS AUTHORISED OFFICER.
2. THE DISTRICT COLLECTOR, COLLECTORATE
AYYANTHOLE, THRISSUR.
BY ADV. SRI.DEVAPRASANTH.P.J.
BY GOVERNMENT PLEADER SRI.JAMES MATHEW
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 23-05-2012,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
MG
WP(C).No. 18308 of 2008 (D)
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APPENDIX
PETITIONER'S EXHIBITS:
EXT.P1:- COPY OF THE NOTICE SERVED ON THE PETITIONER DATED NIL.
RESPONDENT'S EXHIBITS: NIL
//TRUE COPY//
PA TO JUDGE
MG
K.VINOD CHANDRAN, J.
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W.P.(C) NO.18308 of 2008
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Dated this the 23rd day of May, 2012
JUDGMENT
The petitioner challenged the sale proceedings initiated by the respondents under Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. When the matter was admitted, this Court was pleased to pass an interim order directing the petitioner to deposit an amount of Rs.2,00,000/- within a period of three weeks and on the said condition being complied, the impugned sale was directed to be deferred by four weeks. This direction was issued on the specific plea made by the learned counsel for the petitioner to the effect that the sale may be adjourned by 45 days as a last opportunity for the petitioner to repay the entire loan liability. Hence, the interim order works itself out and on the expiry of seven weeks from the date of the said order if the petitioner has complied with the interim condition of remittance of Rs.2,00,000/- within three weeks. If the petitioner has not liquidated the entire amount within the time granted, needless to say the Bank would have proceeded against the petitioner. If by any circumstance, the proceedings are kept W.P.(C) NO.18308 of 2008 2 pending and the loan liability is not yet cleared; it would be open to the Bank to proceed for recovery.
The writ petition in such circumstance, need not be kept pending and is closed.
K.VINOD CHANDRAN, JUDGE Su/-