IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 36362 of 2007(D)
1. V. GOVINDAN, S/O. KRISHNAN NAIR,
... Petitioner
Vs
1. THE DISTRICT COLLECTOR, ERNAKULAM.
... Respondent
2. THE TAHSILDAR,
3. THE VILLAGE OFFICER,
4. LIC HOUSING FINANCE LTD.,
For Petitioner :SRI.N.RAGHURAJ
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :/ /
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) NO. 36362 OF 2007 D
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Dated this the 13th day of December, 2007
J U D G M E N T
Petitioner approached this court complaining that the 4th
respondent, with the assistance of the other respondents, was
trying to dispossess him forcefully. It was his contention that
there were no proceedings initiated under the Securitisation Act
and that despite this he was being attempted to be dispossessed.
2. From the submissions made on behalf of the 4th
respondent, it is obvious that petitioner had availed of two loans
mortgaging his property in Ernakulam and another plot of land in
Palakkad. There was default committed and therefore OS 522/05
and 523/05 were filed by the 4th respondent, which were decreed
by the Court. It is stated that even thereafter since the default
continued, proceedings had to be initiated under the
Securitisation Act and notice under Section 13(2) was served on
the petitioner. It is thus evident that proceedings were initiated
and the attempt to take possession was also in pursuance
thereof.
3. Now in view of these facts, petitioner limits his
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submission to give him a breathing time so that he can dispose of
his property in Cochin and liquidate his liability. He submits that
he has already contracted for the sale of his property and will be
getting a substantial payment soon as advance.
4. I heard the learned counsel for the 4th respondent also
in this matter.
5. Having regard to the submissions that are made, I am
satisfied that the petitioner have made out a case for atleast an
instalment facility for liquidating the liability.
6. Accordingly, I dispose of this writ petition with the
following directions.
1) Before 24th of December, 2007, petitioner shall,
towards his liability to the 4th respondent, remit an amount of
Rs.3,00,000/- (Rupees three lakhs).
2) Subject to payment as above, proceedings initiated
against the petitioner under the Securitisation Act will stand
deferred.
3) The balance amount that is due to the 4th respondent
shall be paid by the petitioner in three equal monthly
instalments, first of which will be paid on 20th of January, 2008
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and the subsequent instalments will be payable on 20th of
February and 20th of March 2008.
4) If the petitioner commits default in discharging the
total liability as above, the 4th respondent will be entitled to
continue the proceedings, without further notice.
ANTONY DOMINIC, JUDGE.
Rp