Sree Poorna Roller Floor Mills … vs Keralakshemam Unique Kuries (P) … on 2 August, 2007

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 28506 of 2005(R)


1. SREE POORNA ROLLER FLOOR MILLS PVT. LTD.
                      ...  Petitioner
2. T.P.VISWANATHAN,
3. T.P.PARAMESWARAN,
4. P.K.GEETHA,

                        Vs



1. KERALAKSHEMAM UNIQUE KURIES (P) LTD.,
                       ...       Respondent

                For Petitioner  :SRI.K.I.MAYANKUTTY MATHER

                For Respondent  :SRI.G.SREEKUMAR (CHELUR)

The Hon'ble MR. Justice PIUS C.KURIAKOSE

 Dated :02/08/2007

 O R D E R
                          PIUS C. KURIAKOSE,J.
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                        W.P.(C) No.28506 of 2005
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                          Dated: 2nd August, 2007

                                 JUDGMENT

The order of the learned Subordinate Judge directing sale of the

entire decree schedule property is under challenge by the judgment-

debtors inter alia on the ground that a portion of the property will

suffice for realising the decree debt. While admitting the Writ Petition

and granting stay, this court imposed a condition that a sum of

Rs.One lakhs be paid within one month from 6.10.2005. I am

informed that the above condition was complied with by the

petitioners. Learned counsel for the petitioners submitted that the

petitioners will be ready to pay off the entire balance amount

provided time is given. Learned counsel for the respondent submitted

that the respondent wants only early recovery of the amounts due

under the decree.

2. Having regard to the rival submissions, I am of the view that

the Writ Petition can be disposed of issuing the following directions:

The order of stay will continue for another six months from

today. It is open to the petitioners to identify a purchaser for

whichever portion of the suit schedule property who will be prepared

to pay the amount necessary for discharging the entire decree debt.

W.P.C.No.28506/05 – 2 –

Once such a purchaser is identified, the petitioners will file an

application before the execution court seeking permission of the court

to have a private sale to that purchaser. The court will pass

appropriate orders in that application and thereby ensure that the

respondent receives balance decree debt either from the petitioners

or from the prospective purchaser. At any rate, the order of stay will

not continue beyond six months. It is open to the petitioners to sort

out the issue with the respondent even out of court.

The Writ Petition will stand disposed of as above. No costs.

srd                                  PIUS C.KURIAKOSE, JUDGE