Appellants challenged eviction and sale of residential property for housing loan defaults. Court granted final chance to redeem dues and regain possession within deadline, allowing postponed sale.
Property unsealed upon deposit of Rs. 1 lakh; sale postponed until default dues cleared by September 10, 2017.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE THE CHIEF JUSTICE MR.NAVANITI PRASAD SINGH &
THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
MONDAY, THE 10TH DAY OF JULY 2017/19TH ASHADHA, 1939
WA.No. 979 of 2017 IN WP(C).3809/2017
AGAINST THE JUDGMENT IN WP(C) 3809/2017 DATED 06-03-2017
APPELLANTS/PETITIONERS :
BY ADVS.SRI.SHABU SREEDHARAN
SRI.P.R.VIBHU SMT.NIDHI RAVINDRAN SRI.M.YOHANNAN SRI.V.SURESH KUMAR (HARIPAD) SRI.D.THILAKAN SRI.K.V.PREMSANKAR
RESPONDENT/RESPONDENT :
THE AUTHORIZED OFFICER
CHIEF MANAGER, CENTRALIZED CREDIT PROCESSING CENTRE, CENTRAL BANK OF INDIA, CSI BUILDING, 2ND FLOOR, M.G.ROAD, PULIMOODU, THIRUVANANTHAPURAM - 695001.
BY SRI.T.P.RAMACHANDRAN,SC,CENTRAL BANK OF INDIA
THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 10-07-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
Navaniti Prasad Singh, C.J. & Raja Vijayaraghavan V., J.
W.A. No. 979 of 2017
JUDGMENT
Navaniti Prasad Singh, C.J.
The writ petitioners are the appellants in this intra court appeal. They had taken a housing loan for construction of a house for their residence. There were series of defaults and accordingly the Central Bank of India initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Security Interest Act, 2002 (“SARFAESI Act” for short). There being no satisfactory response, ultimately the physical possession of the house was taken after ousting the family. Consequently, the property was put up for sale to be held on 21.07.2017.
WA No.979 of 2017
-:2:-
learned Standing Counsel for the Bank and with their consent, we are disposing of this appeal at this stage itself.
WA No.979 of 2017
-:3:-
defaulted amounts would be paid up by 10th of September, 2017.
With this observation and direction and in view of the
undertaking as noted above, this appeal stands disposed of.
Sd/-
Navaniti Prasad Singh, Chief Justice
Sd/-
Raja Vijayaraghavan V., Judge
ttb/07/07
2 issues framed by the court
Whether the direction for immediate possession despite defaults was reasonable.
Whether the appellants are entitled to more time to clear dues.
Biju.R. & Priya.P.
The Authorized Officer, Central Bank of India
Navaniti Prasad Singh
Raja Vijayaraghavan V
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
