IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 24255 of 2006(K)
1. A.P.THOMAS, AGED 51 YEARS,
... Petitioner
Vs
1. STATE BANK OF INDIA,
... Respondent
For Petitioner :SRI.S.SANAL KUMAR
For Respondent :SRI.GEORGE THOMAS(MEVADA), SC, SBI
The Hon'ble MR. Justice PIUS C.KURIAKOSE
Dated :17/08/2007
O R D E R
PIUS C. KURIAKOSE, J.
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W.P.(C) No. 24255 OF 2006
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Dated this the 17th day of August, 2007
JUDGMENT
The order of the Execution court directing sale of the decree
schedule property in a mortgage decree is under challenge in this Writ
Petition under Article 227 filed by the petitioner, judgment debtor. The
ground which is prominently raised in the objection, Ext.P1, filed under
Rule 66 of Order XXI is that the value of the property is such that it is not
necessary to proclaim and sell the whole property but it will be sufficient
if a portion of the property is proclaimed and sold. Learned counsel cited
decisions and submitted that the learned Subordinate Judge should be
directed to pass fresh orders considering the ratio of the decisions.
2. Sri.George Thomas(Mevada), counsel for the 1st respondent
Bank submitted that even according to the petitioner the market value is
Rs.80,000/- per cent and the extent of the property being only 6 cents,
the maximum price which will be realised by selling even the whole
property is only Rs.4,00,000/-. The Decree debt is around
Rs.4,00,000/-. Sri.George Thomas also submitted that the house is
situated towards the middle of the property and it will be practically
difficult to separate a portion of the property and sell the same.
Having considered the rival submissions made at the Bar, I am of
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the view that it is for the petitioner to identify a purchaser who will be
prepared to buy any portion of his property for a price equal to the
amount necessary for discharging the decree debt in full. Under these
circumstances, by virtually upholding the grounds raised in the Writ
Petition, I dispose of the Writ Petition itself directing that the order of
stay presently passed will continue for a period of 4 more months from
today. It is open to the petitioner to identify a purchaser who is willing
to buy any portion of the property in the meanwhile, so that the
prospective purchaser will pay the entire balance decree debt to the
Bank. Once such a purchaser is identified, the petitioner will take him to
the Bank and the Bank will render all necessary assistance so as to
facilitate sale of the property and the petitioner will also ensure that the
purchaser pays the amounts necessary for paying off the debt directly to
the Bank. At any rate, the order of stay presently passed will not
continue after four months from today.
PIUS C. KURIAKOSE, JUDGE
btt
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