Disposed

Vasu v. Mannarkkad Co-Operative Agricultural

Kerala HC9 Mar 2015WP(C)/1019/2015

Case brief

AI extract

What is this about?

The Court directed petitioners to pay the remaining dues in ten equal monthly instalments. It stayed confirmation of the bank's pending sale if payments were made in time, but permitted confirmation and continued proceedings in case of default on any instalment.

What did the court decide?

Direction to pay balance dues in ten equal monthly instalments starting 31.03.2015; stay of confirmation of voluntary sale pending compliance; sale to be confirmed upon default.

Vasu Vs Mannarkkad Co-Operative Agricultural — Banking and Recovery | Kerala HC (2015)

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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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MONDAY, THE 9TH DAY OF MARCH 2015/18TH PHALGUNA, 1936

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WP(C).No. 1019 of 2015 (B)

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PETITIONERS:

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1. VASU, AGED 65 YEARS S/O.APPUKTTY MOOTHAN, CHAZHIYOTTIL HOUSE MANNARKKAD P.O., 678582

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2. LAKSHMIKUTTY, AGED 49 YEARS W/O.VASU, CHAZHIYOTTIL HOUSE, MANNARKKAD P.O. 678582

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3. RATHEESH, AGED 31 YEARS S/O.VASU, CHAZHIYOTTIL HOUSE, MANNARKKAD PO. 678582

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BY ADV. SRI.T.A.RAJAN

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RESPONDENTS:

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1. THE MANNARKKAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., NO.P-934, MANNARKKAD REPRESENTED BY ITS SECTRETARY PIN-678582

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2. THE SECRETARY, MANNARKKAD CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.P-934, MANNARKKAD-678582

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3. THE SPECIAL SALE OFFICER, MANNARKKAD PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD. NO.P-934, MANNARKKAD-678582

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R1 & R2 BY ADV. SRI.P.K.VIJAYAMOHANAN R3 BY GOVERNMENT PLEADER SRI. GIKKU JACOB

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09-03-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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DCS

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WP(C).No. 1019 of 2015 (B)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1: TRUE COPY OF THE RECEIPT DATED 06.08.2014 OF THE FIRST RESPONDENT

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EXHIBIT P2: TRUE COPY OF THE NOTICE DATED 20.11.2014 ISSUED BY THE THIRD RESPONDENT

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EXHIBIT P3: TRUE COPY OF THE LETTER DATED 27.12.2014 ISSUED BY THE THIRD RESPONDENT.

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EXHIBIT P4: TRUE COPY OF THE NOTICE DATED 03.12.2014 ISSUED BY THE FIRST RESPONDENT.

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EXHIBIT P5: TRUE COPY OF THE RECIEPT DATED 9.2.2015

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RESPONDENT(S)' EXHIBITS:-

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EXHIBIT R1(a): TRUE COPY OF THE SALE PROCLAMATION DATED 05.07.2014 IN E.P. NO. 308/2012 ISSUED BY THE SALE OFFICER OF THE BANK

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EXHIBIT R1(b): TRUE COPY OF THE REPRESENTATION DATED 06.08.2014 FILED BY THE THIRD PETITIONER ON BEHALF OF THE 1ST PETITIONER

/TRUE COPY/

P.A. TO JUDGE

DCS

V. CHITAMBARESH, J

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W.P.(C). NO. 1019 OF 2015

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Dated this the 9^th day of March, 2015

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JUDGMENT

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The petitioners have already remitted the sum of Rs. 1,00,000/- with the second respondent pursuant to the interim order. The balance amount due from the petitioners comes to about Rs. 3,17,000/- with future interest. All that the petitioners pray is for easy instalments to pay the amount due and to defer the execution steps.

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I direct the petitioners to pay the balance amount due in ten equal monthly instalments starting from 31.03.2015. The sale already held shall not be confirmed in favour of the first respondent bank if the petitioners comply with the conditions in time. The sale can be confirmed and further proceedings continued if the petitioners commit default in the payment of any one of the instalments as directed.

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The writ petition is disposed of.

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V. CHITAMBARESH JUDGE

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DCS

Vasu v. Mannarkkad Co-Operative Agricultural

Case brief

What is this about?

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Vasu v. Mannarkkad Co-Operative Agricultural

Case brief

What is this about?

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