Disposed

M.S. Thaha v. the Recovery Officer

Kerala HC4 Oct 2013WP(C)/23426/2013

Case brief

AI extract

What is this about?

The petitioner, who entered an agreement for sale of mortgaged property, sought release of the bank's charge. The court directed the petitioner to offer the market value to the bank, which could then decide based on valuation before disposing of the petition.

What did the court decide?

Petitioner directed to move appropriate representation to the bank offering to pay market value for release of charge.

M.S. Thaha Vs the Recovery Officer — Property and Title | 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 V.CHITAMBARESH

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FRIDAY, THE 4TH DAY OF OCTOBER 2013/12TH ASWINA, 1935

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WP(C).No. 23426 of 2013 (C)

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PETITIONER(S):

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M.S. THAHA, S/O. MEERA SAHIB VELIYIL PARAMBIL (H) KAVANADU P.O., KUREEPPUZHACHERIYIL KOLLAM WEST VILLAGE

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BY ADV. SRI.B.KRISHNA MANI

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RESPONDENT(S):

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THE RECOVERY OFFICER DEBTS RECOVERY TRIBUNAL (KERALA & LAKSHADWEEP) VIIITH FLOOR, KERALA STATE HOUSING BOARD BUILDING PANAMPILLY NAGAR, ERNAKULAM 682 036.

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THE MANAGER THE SOUTH INDIAN BANK LTD. KOLLAM 691 001.

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BY SRI.K.K.JOHN,SC,SOUTH INDIAN BANK

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04-10-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO.23426/2013

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APPENDIX

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PETITIONER(S) EXHIBITS

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EXHIBIT P1 : TRUE COPY OF THE DOCUMENT DATED 22.01.2005.

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EXHIBIT P2 : TRUE COPY OF RECEIPT DATED 25.05.1996.

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EXHIBIT P3 : TRUE COPY OF PLAN IN RESPECT OF THE UNIT BY NAME 'SAHIB MATCH WORKS'.

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EXHIBIT P4 : TRUE COPY OF REGISTRATION CERTIFICATE DATED 31.08.1992.

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EXHIBIT P5 : TRUE COPY OF PROCEEDING DATED 23.02.2007 ISSUED BY THE DISTRICT COLLECTOR, KOLLAM.

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EXHIBIT P6 : TRUE COPY OF THE PROCLAMATION FOR SALE DEED 18.02.2010 ISSUED BY THE RECOVERY OFFICER.

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RESPONDENT(S) EXHIBITS: NIL

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/TRUE COPY/

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P.A. TO JUDGE.

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V. CHITAMBARESH, J

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WP(C) NO. 23426 OF 2013

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Dated this the 4^th day of October, 2013

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JUDGMENT

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The petitioner claims to have entered into an agreement

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for sale with the owner of the property. The agreement was concededly entered into when the property was mortgaged to the second respondent bank.

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The only plea now pressed before me is that the bank may release the charge on receiving proportionate value of the property. It is for the petitioner to move appropriate representation before the second respondent bank offering to pay the market value of the property agreed to be taken assignment of.

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The bank is free to accede to the request of the petitioner after obtaining the valuation of the property and ensuring that its interests are not jeopardized.

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The Writ Petition is disposed of.

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V. CHITAMBARESH JUDGE

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ncd

M.S. Thaha v. the Recovery Officer

Case brief

What is this about?

What did the court decide?

M.S. Thaha v. the Recovery Officer

Case brief

What is this about?

What did the court decide?

What the court decided

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