Disposed

Shykaja Nadesan v. Arbitration & Execution Inspector-Ii

Kerala HC15 Dec 2017WP(C)/37286/2017

Case brief

AI extract

What is this about?

In a writ petition filed under Article 226 of the Constitution of India, the High Court of Kerala allowed the petitioner. The Court granted an opportunity to the borrower to clear loan dues in equal monthly instalments. Pending compliance, the auction proceedings were directed to be kept in abeyance.

What did the court decide?

Order to pay off the entire amount due in 10 equal monthly instalments and to keep recovery proceedings in abeyance during the instalment period.

Shykaja Nadesan Vs Arbitration & Execution Inspector-Ii — Banking and Recovery | Kerala HC (2017)

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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 ANIL K.NARENDRAN

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FRIDAY, THE 15TH DAY OF DECEMBER 2017/24TH AGRAHAYANA, 1939

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WP(C).No. 37286 of 2017 (I)

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PETITIONER :

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SHYLAJA NADESAN, AGED 44 YEARS, W/O.NADESAN, KUNNEL PARAMBU HOUSE, MALAKUNNAM P.O, CHANGANASSERY.

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BY ADVS.SRI.T.P.PRADEEP SRI.P.K.SATHEES KUMAR

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RESPONDENT(S):

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1. ARBITRATION & EXECUTION INSPECTOR-II, ASSISTANT REGISTRAR (J) OFFICE, CHANGANASSERY, PIN.686 101.

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2. ITHITHANAM SERVICE CO-OPERATIVE BANK LTD NO.476, REPRESENTED BY ITS SECRETARY, MALAKUNNAM P.O,

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ITHITHANAM, PIN.686 535.

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3. THE SECRETARY, ITHITHANAM SERVICE CO-OPERATIVE BANK LTD NO.476, MALAKUNNAM P.O, ITHITHANAM, PIN.686 535

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R1 BY GOVERNMENT PLEADER SMT. MABLE C. KURIAN R2 & R3 BY ADVS. SRI.B.KRISHNAN SRI.R.PARTHASARATHY

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 15-12-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 37286 of 2017 (I)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1 TRUE COPY OF THE SALE DEED DATED 09.11.2017 ISSUED BY THE 1ST RESPONDENT.

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RESPONDENT(S)' EXHIBITS:

NIL

/TRUE COPY/

P.A.TO JUDGE

sts

ANIL K. NARENDRAN, J.

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-----------------------------------------------W.P.(C) No.37286 of 2017

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Dated this the 15^th day of December, 2017

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JUDGMENT

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The petitioner, who availed a loan for 5,00,000/- for the₹ marriage of her daughter from the second respondent Bank in the year 2015, is before this Court in this writ petition filed under Article 226 of the Constitution of India, seeking an order to set aside Ext.P1 auction notice dated 09.11.2017 issued by the Sale Officer of the second respondent Bank. The petitioner

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has also sought for a writ of mandamus commanding the respondents to regularise the loan account and allow her to repay the arrears in instalments.

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The learned Standing Counsel for respondents 2 and 3, on instructions, would submit that after availing loan in the year 2015, the petitioner has made only a remittance of 50,000/- on₹ 31.03.2016.

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Heard the learned counsel for the petitioner, the learned Government Pleader for the first respondent and also

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W.P.(C) No.37286 of 2017 :-2-:

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the learned Standing Counsel for respondents 2 and 3.

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Though the petitioner availed a loan for 5,00,000/- in₹ the year 2015, he has made only a remittance of 50,000/-.₹ Now the sale of the said property having an extent of 2 Ares with a residential building is scheduled to be held on 18.12.2017, in terms of Ext.P1 auction notice. The amount due from the petitioner is shown as 6,74,243/- in Ext.P1₹ auction notice.

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The learned counsel for the petitioner seeks a reasonable opportunity to enable the petitioner to pay off the entire dues covered by Ext.P1 auction notice in monthly instalments.

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Having considered the rival submissions, this Court finds that an opportunity can be afforded to the petitioner to pay off the entire dues covered by Ext.P1 auction notice in monthly instalments.

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In such circumstances, this writ petition is disposed of

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with the following directions:

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(i) The petitioner shall pay off the entire amount due in terms of Ext.P1 auction notice, together with future interest, in 10 equal monthly instalments commencing from 29.12.2017 and the

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W.P.(C) No.37286 of 2017 :-3-:

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subsequent instalments payable on or before the 29^th day of the succeeding months.

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(ii) If the petitioner is remitting the aforesaid instalments in time without any default, all recovery proceedings pursuant to Ext.P1 auction notice shall be kept in abeyance.

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(iii) However, in case of any default committed by the petitioner in remitting any one of the aforesaid instalments, it would be open to respondents 2 and 3 to proceed further with the recovery steps pursuant to Ext.P1.

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Sd/-

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ANIL K. NARENDRAN JUDGE

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bpr

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//TRUE COPY//

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P.A. TO JUDGE

Shykaja Nadesan v. Arbitration & Execution Inspector-Ii

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Shykaja Nadesan v. Arbitration & Execution Inspector-Ii

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