IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 7557 of 2006(Y)
1. K.K. HARIHARAN, AGED 55,
... Petitioner
Vs
1. SPECIAL SALES OFFICER,
... Respondent
2. THRISSUR DISTRICT CO-OPERATIVE BANK LTD.
For Petitioner :SRI.V.A.PRADEEP KUMAR
For Respondent :SRI.T.R.RAMACHANDRAN NAIR,SC,DC BANK,TS
The Hon'ble MR. Justice K.THANKAPPAN
Dated :19/10/2006
O R D E R
K. Thankappan, J.
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W.P.(C). No. 7557 of 2006
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Dated this the 19th day of October, 2006
JUDGMENT
The writ petition is filed for quashing Ext.P1 notice, in which it is
stated that sale of the mortgaged property of the petitioner would be
conducted on 25-3-2006.
2. The petitioner had availed a loan of Rs.5,00,000/- from the
respondent bank on condition that the amount shall be repaid by
instalments. As the petitioner could not remit the amount in time, steps,
including filing of an arbitration case, have been taken against the
petitioner to recover the amount. In execution of the award, Ext.P1 notice
was issued against the petitioner. Hence, the writ petition is filed for
quashing Ext.P1 notice.
3. When the writ petition came up for admission, this Court granted
interim stay of of Ext.P1 on condition that the petitioner remits a sum of
Rs.2,00,000/- on 15-4-2006 and continues to remit at the same rate on the
15th of every succeeding month. It is reported that the interim order has not
been complied with by the petitioner. Learned counsel for the respondent
bank submits that the interim order may be vacated and the respondent bank
WP(C) 7557/06 2
may be permitted to proceed against the petitioner.
4. The contention of the petitioner is that as the value of the
mortgaged property is more than Rs.10,00,000/-, sale of a portion of the
property is sufficient to realize the amount due to the respondent bank.
With regard to the above contention, this Court is of the view that as per the
provisions of section 85 of the Kerala Co-operative Societies Rules, 1969,
the petitioner can move the sale officer to sell a portion of the property of
the petitioner in discharge of money due.
The writ petition is disposed of as above.
K.Thankappan,
Judge.
mn.
WP(C) 7557/06 3
K. Thankappan,J.
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W.P.(C) No. /2006
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Judgment
20-9-2006
WP(C) 7557/06 4
K.Thankappan,
Judge.
mn.
K. Thankappan,J.
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W.P.(C) No. /2006
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Judgment
19-10-2006