Petitioner challenged the legality of reducing the reserved price and selling the entire mortgaged property. The Court held that if the sale was vitiated, statutory remedies lie before the Appellate Tribunal and dismissed the O.P. without addressing merits.
O.P No. 3352/2012 dismissed without prejudice to the contentions and rights of the petitioner.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE ANTONY DOMINIC
THURSDAY, THE 11TH DAY OF OCTOBER 2012/19TH ASWINA 1934
OP (DRT).No. 3352 of 2012 (O)
OA.273/2008 of DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER(S):
V.G.SREEKUMAR, AGED 33 YEARS, S/O GOPINATHAN NAIR, VAKKELIL HOUSE, KIDANGAOOR P.O., ANGAMALY
BY ADV. SRI.RENNY AUGUSTINE
RESPONDENT(S):
BY SC SRI.SATHISH NINAN
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 11-10-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
OP (DRT).No. 3352 of 2012
APPENDIX
EXHIBITS
P6TRUE COPY OF THE NOTICE ITEM PUBLISHED IN MATHRU BHOOMI DAILY DATED 7.8.12
/true copy/
P.A. To Judge
ANTONY DOMINIC, J
O.P.(DRT).3352/2012
Dated this the 11th day of October, 2012
JUDGMENT
Petitioner mortgaged 67 cents of property with the Bank and availed of a loan. Default committed led to O.A filed by the Bank and certificate was also obtained for realizing its dues. Accordingly, execution proceedings were initiated and a portion of the property mortgaged, was proposed to be sold. However, the sale did not materialize. Subsequently, by Ext.P5, petitioner was informed by the Bank that on account of the absence of bidders for buying a portion of the property offered for sale, Bank is proposing to reduce the reserved price. It is stated that thereafter, the 1st respondent issued Ext.P6 sale notice for selling the whole property and the property itself has been sold.
O.P.(DRT).3352/12
2
Therefore, without prejudice to the contentions
and the rights available to the petitioner, this O.P is dismissed.
Sd/- ANTONY DOMINIC, JUDGE
mrcs
/true copy/ PA To Judge
3 issues framed by the court
Whether to examine the legality of the bank's decision to reduce reserve price and sell the whole mortgaged property in present proceedings.
Whether the petitioner has alternative statutory remedies available for challenging alleged irregularities in the sale.
Whether this O.P is maintainable without prejudice to the petitioner's contentions.
V.G.SREEKUMAR
RECOVERY OFFICER
STATE BANK OF TRAVANCORE
ANTONY DOMINIC
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
