Allowed

K.G.Binu v. Union Bank of India

Kerala HC1 Nov 2013OP(C)/2768/2013

Case brief

AI extract

What is this about?

In an original civil petition challenging a sale notice for mortgage property, the court allowed the petitioners to avoid immediate sale by depositing the decree amount in ten monthly instalments. Default in two consecutive payments would result in recall of the order and resumption of sale proceedings.

What did the court decide?

Petition disposed permitting payment of the balance decretal amount in ten equal monthly instalments; sale stayed pending payment.

K.G.Binu Vs Union Bank of India — Execution and Attachment | Kerala HC (2013)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MR.JUSTICE P.N.RAVINDRAN

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FRIDAY, THE 1ST DAY OF NOVEMBER 2013/10TH KARTHIKA, 1935

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OP(C).No. 2768 of 2013 (O)

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PETITIONERS:

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1. K.G.BINU AGED 34 YEARS S/O. GOPALAKRISHNAN, KARIAMKUNNEL C/O. KOTTACKAL HOUSE, NEAR V-STAR RICE MILL PUTHIYAKARA ROAD, MATTOOR, KALADY ERNAKULAM DISTRICT.

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2. SANTHAMMA AGED 58 YEARS W/O. GOPALAKRISHNAN, KARIAMKUNNEL, C/O.KOTTACKAL HOUSE NEAR V-STAR RICE MILL, PUTHIYAKARA ROAD, MATTOOR KALADY, ERNAKULAM DISTRICT.

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BY ADVS.SRI.PRAVEEN K. JOY SRI.P.S.SUJETH

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RESPONDENT:

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THE BRANCH MANAGHER, UNION BANK OF INDIA, MUNNAR BRANCH DEVIKULAM TALUK, IDUKKI DISTRICT. PIN-685613.

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R BY SRI.A.S.P.KURUP, SC, UBI

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THIS OP (CIVIL) HAVING BEEN FINALLY HEARD ON 01-11-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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OP(C).No. 2768 of 2013 (O)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXT.P1: TRUE COPY OF THE SALE NOTICE DATED 24-7-2013.

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EXT.P2: TRUE COPY OF THE SCHEDDULE OF PROPERTIES PROPOSED TO BE SOLD IS ATTACHED WITH SALE NOTICE

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EXT.P3: A TRUE COPY OF MEMO FILED BEFORE THE SUB COURT, KATTAPPANA.

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RESPONDENT(S)' EXHIBITS: NIL

RKC

//TRUE COPY//

PA TO JUDGE.

P.N.RAVINDRAN, J.

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O.P.(C).No.2768 of 2013

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Dated this the 1^st day of November, 2013

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JUDGMENT

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The petitioners are the judgment debtors in O.S.No.241 of 2009 on the file of the Court of the Subordinate Judge of Kattappana. The respondent is the decree holder therein. The suit instituted by the respondent for recovery of the money lend and advanced by it to the petitioners was decreed ex-parte and in execution of that ex-parte decree the property mortgaged as security has now been brought to sale for realisation of the sum of ₹ 11,71,243/-. The petitioners have in this original petition challenged the sale notice proposing to sell the mortgaged property by public auction on 12.8.2013.

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When the original petition came up for hearing today, Sri.A.S.P.Kurup, learned standing counsel appearing for the decree holder bank submitted that though the petitioners have pursuant to the interim order passed by this Court deposited the sum of ₹1,00,000, the second instalment of 1,00,000/- has not been paid₹ till date, but having regard to the payment of 1,00,000/-, the₹ original petition itself may be disposed of permitting them to pay the balance amount due in ten monthly instalments. In the light of

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..2..

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O.P.(C).No.2768 of 2013

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the said concession, I dispose of the original petition with the following directions:

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The petitioners shall deposit in the execution court for payment to the decree holder the sum of 11,71,242/- less₹ the sum 1,00,000/-deposited by them pursuant to the₹ order of this Court in ten equal monthly instalments. The first of such instalments shall be deposited on or before 20.11.2013 and the remaining instalments shall be deposited on the 20^th of each succeeding English calendar month. If the 20^th of any month happens to be a holiday, such payment shall be made on the next working day.

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In the event of the petitioner committing default in depositing any two consecutive instalments, this order shall stand recalled and the execution court will be free to proceed to sell the security.

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Upon the petitioner depositing the sum of 10,71,242/- in₹ ten monthly instalments in the manner directed above, the bank shall file a statement setting out the balance amount due to it after giving credit to the payments made. The petitioner shall deposit the said amount within one month from the date on which the statement is filed.

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The execution court shall upon the petitioner paying the

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O.P.(C).No.2768 of 2013

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..3..

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said sum, record full satisfaction of the decree and close the execution petition.

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Sd/- JUDGE.

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P.N.RAVINDRAN,

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rkc.

K.G.Binu v. Union Bank of India

Case brief

What is this about?

What did the court decide?

K.G.Binu v. Union Bank of India

Case brief

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