Allowed

Nakulan N.V v. Kozhikode District CO-0OPERATIVE Bank No F 1635

Kerala HC10 Mar 2015WP(C)/7531/2015

Case brief

AI extract

What is this about?

Bench allowed writ petition seeking deferment of property auction scheduled for 13.03.2015. Court directed bank to require petitioner to deposit Rs. 50,000 by 12.03.2015 to postpone sale for two months and consider benefits under the 'Ashwas-2015' scheme.

What did the court decide?

Sale of petitioner's property postponed for two months upon deposit of Rs. 50,000; consideration of petitioner's entitlement under 'Ashwas-2015' scheme.

Nakulan N.V Vs Kozhikode District CO-0OPERATIVE Bank No… — 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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TUESDAY, THE 10TH DAY OF MARCH 2015/19TH PHALGUNA, 1936

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WP(C).No. 7531 of 2015 (N)

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PETITIONER:

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NAKULAN N.V AGED 45 YEARS, S/O. NANU, THAZHEMANARAMBATH HOUSE, P.O. KEEZHAL, VATAKARA, KOZHIKODE.

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BY ADVS.SRI.K.MOHANAKANNAN SMT.A.R.PRAVITHA

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RESPONDENTS:

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KOZHIKODE DISTRICT CO-OPERATIVE BANK NO F 1635, PB NO. 503, KALLAI ROAD, KOZHIKODE REPRESENTED BY ITS SECRETARY.

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THE SPECIAL SALE OFFICER, KOZHIKODE DISTRICT CO-OPERATIVE BANK NO. F 1635, PB NO. 503, KALLAI ROAD, KOZHIKODE.

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BY SRI.R.SUDHISH, SC, KOZHIKODE DIST.CO.OP. BANK, LTD

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10-03-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 7531/2015

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APPENDIX

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PETITIONER(S) EXHIBITS

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EXHIBIT P1 : TRUE COPY OF THE DEMAND NOTICE ISSUED U/S.13(2) OF THE SARFAESI ACT 27.10.2014. EXHIBIT P2 : TRUE COPY OF THE SALE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 31.01.2015. EXHIBIT P3 : TRUE COPY OF THE ASWAS 2015 CIRCULAR NO. 5/2015 DATED 22.01.2015 ISSUED BY THE GOVERNMENT.

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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. 7531 OF 2015

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Dated this the 10^th day of March, 2015

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JUDGMENT

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The petitioner seeks the benefit of 'Ashwas-2015' scheme. The same is benevolent to the loanees. The petitioner wants the first respondent bank to extend such benefits.

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The property of the petitioner is now proclaimed for sale. The sale is scheduled to take place on 13.03.2015. The petitioner wants the sale to be put off. The petitioner is eager and willing to abide by the 'Ashwas-2015' scheme.

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The petitioner shall deposit a sum of `50,000/(Rupees Fifty thousand only) towards the dues. The same shall be done on or before 12.03.2015. The sale under such circumstances shall be put off for a period of two months. The entitlement of the petitioner under 'Ashwas-2015' scheme shall be considered. The same shall be done well before 28.03.2015.

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The Writ Petition is disposed of.

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V. CHITAMBARESH JUDGE

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ncd

Nakulan N.V v. Kozhikode District CO-0OPERATIVE Bank No F 1635

Case brief

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Nakulan N.V v. Kozhikode District CO-0OPERATIVE Bank No F 1635

Case brief

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What did the court decide?

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