Partly allowed

Mr Nabikhan v. the Bangalore Cooperative Bank Ltd.

Karnataka HC23 Nov 2023WP/15817/2022

Case brief

AI extract

What is this about?

The High Court extended the deadline for the petitioner to clear the outstanding loan to 31.01.2024. The Court directed the Bank to receive a demand draft deposit and not precipitate the matter further. The claim for relaxation of inflated interest was deferred to the petitioner and the Bank.

What did the court decide?

Extended time to clear the entire loan to 31.01.2024; directed Bank to receive the deposit and not precipitate the matter further.

Mr Nabikhan Vs the Bangalore Cooperative… — Contract and Commercial Disputes | Karnataka HC (2023)

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1 - NC: 2023:KHC:42196 WP No. 15817 of 2022

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 23^RD DAY OF NOVEMBER, 2023

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BEFORE

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THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 15817 OF 2022 (GM-RES)

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BETWEEN:

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MR. NABIKHAN, S/O MAQBUL KHAN, AGED ABOUT 56 YEARS, R/AT NO.16, 9^TH CROSS, HOSAHALLI MAIN ROAD, PADARAYANAPURA, BANGALORE - 560 026.

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…PETITIONER

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(BY SRI. MOHAMMED TAHIR, ADVOCATE)

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AND:

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Digitally signed by PADMAVATHI B K Location: HIGH COURT OF KARNATAKA

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THE BANGALORE COOPERATIVE BANK LTD., NO.03, PAMPA MAHAKAVI ROAD, CHAMARAJPET, BANGALORE - 560 018. REPRESENTED BY ITS AUTHORIZED OFFICER.

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AUTHORIZED OFFICER, THE BANGALORE COOPERATIVE BANK LTD., NO. 03, PAMPA MAHAKAVI ROAD, CHAMARAJPET, BANGALORE - 560 018. …RESPONDENTS

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(BY SRI. LOKESH K.V., ADVOCATE)

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NC: 2023:KHC:42196 WP No. 15817 of 2022

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THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE WRIT OF MANDAMUS OR ANY APPROPRIATE WRIT TO FOLLOW THE GUIDELINES OF THE RBI FOR THE INTEREST RATE AND ETC.,

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THIS PETITION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

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ORDER

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The petitioner is before this Court calling in question proceedings of auction of the property, which is the secured credit at the hands of the respondent - Bank. This Court on 10.08.2022, while entertaining the petition had passed the following order:

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" Issue emergent notice.

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Stay of impugned notice subject to petitioner paying to the respondent-bank a sum of Rs.6,00,000/- as under:

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(i) Rs.2,00,000/- (Rupees Two Lakh) only, within two weeks,

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(ii) Rs.2,00,000/- (Rupees Two Lakh) only, within next two weeks, (iii) Rs.2,00,000/- (Rupees Two Lakh) only, in the following next two weeks,

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failing which not only the interim order stands rescinded on its own but a shadow would be cast on the merits of the main matter too."

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Subsequently, slew of orders are passed by this Court

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and the last of which is on 13.10.2023, which reads as follows:

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" Learned Counsel for the petitioner has furnished a Demand Draft in a sum of Rs.10.00 Lakhs drawn in

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3 - NC: 2023:KHC:42196 WP No. 15817 of 2022

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favour of the respondent-Bank, which is dated 06.10.2023.

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Learned Counsel for the petitioner submits that although this amount of Rs.10.00 Lakhs would not be in compliance of the earlier directions given by this Court, nevertheless, it is submitted that since auction has not been conducted as on today, one more opportunity may be given to the petitioner, so that the petitioner can clear the entire outstanding loan amount within a period of three months.

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Consequently, the respondents are directed to receive the said Demand Draft in a sum of Rs.10.00 Lakhs which would be tendered by the petitioner to the respondent-Bank.

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Re-list this matter on 22.11.2023.

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In the meanwhile, the petitioner shall make further endeavor to make payments to the respondent-Bank and report to this Court.

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The respondent-Bank is hereby directed not to precipitate the matter any further, till the next date of hearing."

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In compliance with the order dated 13.10.2023, the

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learned counsel appearing for the parties would submit that deposit of Rs.10,00,000/- has been made with the Bank. The petitioner has also filed an affidavit with a copy served to the respondent that entire loan would itself be cleared on or before 31.12.2023.

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Learned counsel appearing for the petitioner seeks indulgence at the hands of this Court to extend the time up to 31.01.2024.

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NC: 2023:KHC:42196 WP No. 15817 of 2022

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The submission is placed on record.

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The petitioner in the light of the affidavit shall close

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the entire loan on or before 31.01.2024, failing which, it would be open to the Bank to take appropriate steps, in accordance with law.

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Learned counsel appearing for the petitioner at this

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juncture would submit that the Bank should consider relaxation of inflated interest that they have imposed on the loan.

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It is for the petitioner to represent and for the Bank

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to consider the issue of inflated interest, if any.

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With the aforesaid observations, the petition stands disposed.

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Ordered accordingly.

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Sd/JUDGE

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JY List No.: 1 Sl No.: 4 CT:SNN

Mr Nabikhan v. the Bangalore Cooperative Bank Ltd.

Case brief

What is this about?

What did the court decide?

Mr Nabikhan v. the Bangalore Cooperative Bank Ltd.

Case brief

What is this about?

What did the court decide?

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