IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 8148 of 2009(K)
1. JACOB VARGHESE, S/O.VARGHESE,
... Petitioner
2. MARY, W/O.VARGHESE,
Vs
1. IRINJALAKUDA CO-OPERATIVE AGRICULTURAL
... Respondent
2. THE SECRETARY,
3. THE PRESIDENT,
4. THE JOINT REGISTRAR (GENERAL),
5. STATE OF KERALA,
For Petitioner :SRI.C.A.CHACKO
For Respondent :SRI.V.G.ARUN
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :18/03/2009
O R D E R
THOTTATHIL B RADHAKRISHNAN, J
...........................................
WP(C).NO. 8148 OF 2009
............................................
DATED THIS THE 18TH DAY OF MARCH, 2009
JUDGMENT
The petitioners availed a loan from the first respondent
sometime in 2004. Following the statutory proceedings, there is a
confirmed sale in favour of the bank. By that process, the
relationship between the petitioner and first respondent has
terminated. The mortgaged property has been purchased by the
bank and sale confirmed. Relying on Circular 1 of 2009, the
petitioners sought for relief in terms of that circular. The terms of
that circular relate only to transactions which are ripe and where
recovery proceedings are not completed. But in the case in hand,
by the sale in favour of the bank, which has been confirmed, the
transaction no more survives for application of Circular 1 of 2009.
Yet, the bank has issued Ext.P12 stating that it is prepared to
extend certain facilities.
2. Learned counsel for the bank states that all that has
been done is that the bank is prepared to extend the petitioners,
certain benefits and reconvey the property. This, he states, could
WP(C) 8148/2009 2
be had only if the entire amounts due as on the date of sale with
future interest at 12% therein is paid to the bank.
3. I do not find any legal infirmity or jurisdictional error in
the stand taken by the first respondent. Having assured myself
that Circular 1 of 2009 will not apply in cases of closed
transactions or in relation to transactions where the recovery has
been completed, I do not find it necessary for the writ court to
stand on the contents of Ext.P12, that too, of a Co-operative
Society and compel it to enforce Ext.P12 in the manner in which
petitioners desire to have it. In the aforesaid circumstances,
refusing all other reliefs, this writ petition is ordered directing
that if the petitioners pay the entire amounts for which the sale
was conducted, and 12% interest thereon from the date of sale,
till the date of payment, the bank will reconvey the property as
decided by it, at the expenses of the petitioners. It is also
recorded that the petitioners have to make the payment before
31.3.2009 for getting the aforesaid benefit.
Writ petition ordered accordingly.
THOTTATHIL B RADHAKRISHNAN,
JUDGE
lgk/20/3