IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 2612 of 2008(J)
1. K.P.JAMAL, AGED 50 YEARS, S/O. PAREED,
... Petitioner
Vs
1. THE KERALA FINANCIAL CORPORATION,
... Respondent
2. SUBAIDA BEEVI,
3. K.P.HABEEB,
4. K.P.TAJUDEEN,
For Petitioner :SRI.A.T.ANILKUMAR
For Respondent : No Appearance
The Hon'ble MR. Justice M.N.KRISHNAN
Dated :22/01/2008
O R D E R
M.N.KRISHNAN, J.
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W.P.(C). NO. 2612 OF 2008
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Dated this the 22nd day of January, 2008
JUDGMENT
This writ petition is filed seeking to set aside Ext.P5 order.
This is a classical case which will demonstrate how the decree
holder/1st respondent herein has to run from pillar to post to realise
the decree debt, which runs into crores. At last, now a stage has
reached where the property is to be put in auction for realisation of
the debt. The court below got the valuation report from the decree
holder as well as from the judgment debtors. According to the
judgment debtors, the value of the property comes to
Rs.1,14,50,000/- whereas for the decree holder it comes to
Rs.64,96,000/-. According to the court below the total debt is more
than Rs.1,57,67,641/-. So naturally the court found that the entire
properties are to be sold for realisation of the debt. As per proviso
to Order XXI Rule 66, as amended, the court is not under an
obligation to fix the upset price and it can show the price shown by
the judgment debtor as well as the decree holder.
WPC NO 2612/08 2
Therefore, I direct the court below that in case if there is
item wise valuation for the properties submitted by the valuer, the
price suggested by the judgment debtors shall be the beginning point
of auction and in case if it does not materialise, the decree holder
may apply to the court thereafter, to reduce the value and conduct
fresh auction.
The writ petition is disposed of accordingly.
M.N.KRISHNAN, JUDGE
vps
WPC NO 2612/08 3