The Court deferred the confirmation of a property sale pending the petitioner’s ability to clear dues via six equal monthly instalments starting July 21, 2016.
Sale confirmed deferred subject to payment of entire dues in 6 equal monthly instalments by July 21, 2016.
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 A.M.SHAFFIQUE
TUESDAY, THE 21ST DAY OF JUNE 2016/31ST JYAISHTA, 1938
OP (DRT).No. 61 of 2016
S.A.NO. 180/2016 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER(S) :
S.ANIL KUMAR,
761, PLAVILA, ATHIYANOOR, ARALUMOODU P.O., BALARAMAPURAM, THIRUVANANTHAPURAM DISTRICT, PIN-695 501.
BY ADVS. SRI.S.NARAYANAN NAIR
SRI.N.T.NANDAKUMAR (PARAVUR)
RESPONDENT(S) :
1. AUTHORIZED OFFICER, TAMIL MERCANTILE BANK LTD., KOTTUKAL BRANCH, ALIF ARACADE, 1ST FLOOR, MAIN ROAD, BALARAMAPURAM, THIRUVANANTHAPURAM DISTRICT, PIN- 695 501.
2. DEBTS RECOVERY TRIBUNAL II, GOVERNMENT OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF FINANCIAL SERVICES, 1ST FLOOR, KSHB OFFICE COMPLEX, PANAMPILLY NAGAR, KOCHI - 682 036.
R1 BY ADV. SRI.V.V.SURENDRAN
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 21-06-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Msd.
OP (DRT).No. 61 of 2016
APPENDIX
PETITIONER(S)' EXHIBITS :
RESPONDENT(S)' EXHIBITS :
NIL
//TRUE COPY//
P.S.TO JUDGE.
Msd.
A.M. SHAFFIQUE, J.
=============
OP(DRT) No. 61 of 2016
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Dated this, the 21st day of June, 2016
J U D G M E N T
This Original Petition has been filed seeking for a direction to call for the records in Ext.P1 and to quash the same. Petitioner also seeks for a direction to the respondent Bank to permit regularisation of the account by remitting the excess drawings and continue operation for the smooth running of the business.
Accordingly, this original petition is disposed of as under;
OP(DRT) No.61/16
-:2:-
with the sale of the property. However, the sale shall be deferred on the following condition:
a) That the petitioner shall pay the entire outstanding dues in 6 equal monthly instalments starting from 21/7/2016.
Sd/-
A.M. SHAFFIQUE, JUDGE
Rp21/06/2016
//True Copy//
P.S to Judge
2 issues framed by the court
Whether the sale of secured assets can be deferred to enable the petitioner to remit dues through instalments.
Whether the Bank is entitled to confirm the sale in case of default in instalment payments.
S. ANIL KUMAR
AUTHORIZED OFFICER, TAMIL MERCANTILE BANK LTD.
A.M. SHAFFIQUE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
