IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 4589 of 2009(U)
1. BIJU PAUL,S/O.PAILO, AGED 36 YEARS,
... Petitioner
2. ELEYKUTTY, W/O.LATE PAILO,
Vs
1. KERALA STATE CO-OPERATIVE BANK LTD,
... Respondent
2. AUTHORISED OFFICER,(REGIONAL MANAGER),
For Petitioner :SMT.CISSY MATHEWS
For Respondent :SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :11/02/2009
O R D E R
THOTTATHIL B RADHAKRISHNAN, J
...........................................
WP(C).NO. 4589 OF 2009
............................................
DATED THIS THE 11 TH DAY OF FEBRUARY, 2009
JUDGMENT
Petitioners availed a loan from the first respondent and
defaulted in repayment. On 26.10.2006, Ext.P1 notice under Section
13(2) of the SARFAESI Act was issued, showing an outstanding of
Rs.5,17,474/- as on 31.7.2006. It is quite surprising that no action was
taken thereafter until the issuance of the possession notice on
25.9.2008, though not a paise was paid even after Section 13(2)
notice. On 14.1.2009, the property was advertised for sale to be held
on 19.2.2009. Today, on 11.2.2009, the petitioners seek indulgence of
this court. They have not initiated proceedings before the Debt
Recovery Tribunal under the SARFAESI Act. The impugned
proceedings has been final. I find no ground to interfere with the
impugned proceedings. Yet, as a last opportunity, if petitioners
deposit an amount of Rs.4,00,000/-, at or before the time fixed for sale
in Ext.P4, the impugned sale will be deferred till 25.3.2008, granting
an opportunity to the petitioners to pay off the remaining amounts
also.
THOTTATHIL B RADHAKRISHNAN,
JUDGE
lgk/16/2