Joseph Xavier Anthraper vs Authorised Officer Of Indian Bank on 2 September, 2008

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 25809 of 2008(V)


1. JOSEPH XAVIER ANTHRAPER, XIX/681,
                      ...  Petitioner
2. TESSY JOSEPH ANTHRAPER, W/O.JOSEPH

                        Vs



1. AUTHORISED OFFICER OF INDIAN BANK
                       ...       Respondent

2. SENIOR MANAGER, INDIAN BANK, KAR

                For Petitioner  :SRI.P.KESAVAN NAIR

                For Respondent  : No Appearance

The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN

 Dated :02/09/2008

 O R D E R
             THOTTATHIL B.RADHAKRISHNAN, J.
                   -------------------------------------------
                    W.P(C).No.25809 OF 2008
                   -------------------------------------------
             Dated this the 2nd day of September, 2008


                               JUDGMENT

Petitioners availed a housing loan from the second

respondent bank. On chronic default in repayment, notice was

issued under the SARFAESI Act followed by proceedings for sale.

Initially, it was thought that this may be a case where the

petitioners could be given an opportunity to have the loan

transaction regularized by repaying the entire outstandings with

penalty, interest etc. But, as rightly pointed out by the learned

counsel for the bank, even Ext.P7 shows that on 29.7.2008 the

first petitioner had an agreement for sale in favour of one

Mrs.Mary Baby and that he was prepared to repay, if certain

facilities were extended by the bank. Learned counsel for the

bank states that having regard to the commercial angle of the

transaction, it is not found feasible to regularize the transaction.

Under such circumstances, without prejudice to proceedings

which are pending before the Debt Recovery Tribunal, this writ

petition is dismissed.

Sd/-

THOTTATHIL B.RADHAKRISHNAN,
Judge.

kkb.2/9.