Full Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN MONDAY,THE9H DAY OF JUNE201419TH JYAISHTA, 1936 WP(C).No. 14402 of 2014 (A) --------------------------------------- PETITIONERS : ---------------------- 1. JAMALUDEEN.T, PROPRIETOR, M/S.FIDHA PAINTS AND HARDWARES, MP XII/264/1344, JUMA MASJID, THATTAMALA, KOLLAM - 691 020, RESIDING AT SAFEELA MANZIL, NEW COLONY, THATTAMALA, KOLLAM - 691 020.
2. SAFEELA BEEVI, AGED45YEARS, THOTTUVA KIZHAKKATHIL, VALATHUNGAL P.O., KOLLAM - 691 018. BY ADVS.SRI.BINU GEORGE SMT.HEMALATHA RESPONDENTS : ------------------------- 1. THE AUTHORIZED OFFICER, STATE BANK OF MYSORE, KOLLAM BRANCH, PAIKADA ROAD, ANDAMUKKAM, KOLLAM - 691 001.
2. THE BRANCH MANAGER, STATE BANK OF MYSORE, KOLLAM BRANCH, PAIKADA ROAD, ANDAMUKKAM, KOLLAM - 691 001. BY ADV. SRI.LAL GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON0906-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Msd. WP(C).No. 14402 of 2014 (A) ----------------------------------------- APPENDIX --------------- PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT P1 : A TRUE COPY OF RECEIPTS DATED0803/2013 AND2803/2013. EXHIBIT P2 : A TRUE COPY OF RECEIPTS DATED0310/2013. EXHIBIT P3 : A TRUE COPY OF SALE NOTICE DATED0510/2013. EXHIBIT P4 : A TRUE COPY OF RECEIPT DATED3011/2013. EXHIBIT P5 : A TRUE COPY OF SALE NOTICE DATED0705/2014. EXHIBIT P6 : A TRUE COPY OF JUDGMENT
DATED2406/2013 IN WPC NO. 15494/2013. EXHIBIT P7 : A TRUE COPY OF ORDER
DATED2111/2013 IN I.A.NO33082013 IN S.A.NO.772/2013. RESPONDENT(S)' EXHIBITS: ----------------------------------------- NIL //TRUE COPY// P.S.TO JUDGE. Msd. K.Vinod Chandran, J.
-------------------------------------- W.P.(C).No.14402 of 2014-A ----------------------------------------- Dated this the 09th day of June, 2014 JUDGMENT
The 1st petitioner admittedly is a defaulter and the Cash Credit Loan availed of from the respondent-Bank, to which the 2nd petitioner is a guarantor, has exceeded the limit and has been recalled. The petitioners pray for settlement of the entire dues within a period of six months.
2. The learned counsel appearing for the respondent-Bank, however, objects to that, on the facts as disclosed from the materials placed before this Court. In fact when the writ petition was filed, the entire facts were not disclosed and on specific direction by this Court, a separate petition has been filed, producing the relevant documents.
3. As has been submitted by the learned counsel appearing for the respondent-Bank, by Exhibit P6 judgment in W.P.(C). No.15494 of 2013, the petitioners were granted time to pay off the entire arrears in eight equal monthly instalments, starting from 01.08.2013. The petitioners having not complied with the direction issued, approached the Debts Recovery Tribunal [for brevity "DRT"] WP(C).No.14402 of 2014 - 2 - with a Securitisation Application, wherein the DRT passed a conditional order, again granting instalments as per Exhibit P7. The petitioner not only failed to comply with the said order, but also kept away from the Tribunal. The same is evident from the dismissal of the Securitisation Application No.772 of 2013 on 09.04.2014.
4. The learned counsel for the petitioners, however, submits that in fact after the petitioners had obtained Exhibit P6 judgment, the petitioners had approached the respondent-Bank and the Bank had agreed to grant a loan to settle the Cash Credit Loan, if three other loans were settled, which is evidenced by Exhibit P2. The learned counsel for the respondent-Bank alertly points to the receipts, produced as Exhibit P2, which are all with respect to other individuals, who, according to the petitioner, are his staff members. In any event, it is submitted that there was another property mortgaged in the said loan, which was released after the said loans were settled and the petitioners had effected sale of the said property also.
5. In the above circumstances, there can be no interdiction of the sale scheduled as per Exhibit P5. The sale shall go on. However, if the petitioners pay an amount of Rs.2,50,000/- (Rupees two lakhs and fifty thousand only) on or before the time scheduled for WP(C).No.14402 of 2014 - 3 - sale as per Exhibit P5, the confirmation shall be stayed on the further condition that the petitioner remits the entire balance amount within a period of five months from the date of sale. On remittance of the aforesaid Rs.2,50,000/-, the respondent-Bank shall issue a statement to the petitioner as to the amount due in the account as on 16.06.2014. The same shall be settled in five equal monthly instalments, the 1st instalment of which would fall on 16.07.2014 and the subsequent instalments on the 16th of the succeeding months. If the petitioners comply with the entire instalments as above, the sale shall be set aside and the petitioners issued with a statement of further interest from 16.06.2014, which shall be settled on the 16th of the succeeding month, as the 6th instalment. If one default is committed, the petitioners shall not be entitled to the instalments granted by this Court and the sale proceedings shall be concluded. Writ petition is disposed of as above. Sd/- K.Vinod Chandran Judge. vku/- ( true copy )