Allowed

K Vasudeo K Gundurao v. the Parbhani Peoples Co. Operative Bank Ltd. through Ganesh Gautam Puri and Others

Bombay HC23 Feb 2017CA/2221/2017

Case brief

AI extract

What is this about?

This court allowed the applicant's civil application seeking permission to sell a mortgaged property. Permission was granted by the bank respondent, subject to depositing sale proceeds to clear dues, with surplus credited to the applicant.

What did the court decide?

Permission to sell mortgaged property granted; sale proceeds to be deposited with the bank to clear dues, with surplus credited to applicant.

K Vasudeo K Gundurao Vs the Parbhani Peoples Co… — Banking and Recovery | Bombay HC (2017)

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( 1 ) ca2221.17

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY BENCH AT AURANGABAD

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CIVIL APPLICATION NO. 2221 OF 2017
IN

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WRIT PETITION NO. 12200 OF 2016

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K Vasudeo K. Gundurao

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..Applicant

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Versus

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The Parbhani Peoples Co-op. Bank Ltd. & Ors.. Respondents

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Mr.S.N. Devmane, Advocate for the applicant.
Mr.S.V. Mundhe, Advocate for petitioner in WP.
Mr.S.K. Tambe, AGP for respondent/State.

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CORAM : S.B. SHUKRE,J.
DATED :23.02.2017

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P.C. :-

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1.Heard.

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2.Learned Counsel for respondent No.1-Bank has no
objection if this applicant, who is original respondent
No.6, sales mortgaged property and deposits the sale
proceedings towards liquidation of outstanding amount.
Therefore, this application is allowed and permission to
sell the mortgaged property with the consent of
respondent No.1-bank is granted subject to the condition
that the sale proceeds shall be deposited in the bank so
as to enable the bank to appropriate them towards
satisfaction of the dues. If any amount remains to the

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credit of respondent-bank after satisfaction of the dues,
same shall be credited to respondent No.6. Necessary
arrangements be made by the parties. The parties are at
liberty to sell out the mortgaged property in different
parts, if necessary.

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3.With above directions, the Civil Application is
disposed of.

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snk/2017/FEB17/ ca2221.17

K Vasudeo K Gundurao v. the Parbhani Peoples Co. Operative Bank Ltd. through Ganesh Gautam Puri and Others

Case brief

What is this about?

What did the court decide?

K Vasudeo K Gundurao v. the Parbhani Peoples Co. Operative Bank Ltd. through Ganesh Gautam Puri and Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

Case details

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