M.J.George vs The Recovery Officer on 24 September, 2008

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 28193 of 2008(F)


1. M.J.GEORGE, MANAYANICKIL HOUSE,
                      ...  Petitioner

                        Vs



1. THE RECOVERY OFFICER, DEBTS RECOVERY
                       ...       Respondent

2. THE FEDERAL BANK LTD, MATTANCHERY.

3. T.M.THOMAS, S/O.MATHEW, XL/665, T A K

                For Petitioner  :SRI.P.V.JYOTHI PRASAD

                For Respondent  : No Appearance

The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN

 Dated :24/09/2008

 O R D E R
         THOTTATHIL B. RADHAKRISHNAN, J.
      ------------------------------------------------------------------------
                 W.P.(C) NO.28193 OF 2008 (F)
      ------------------------------------------------------------------------
         Dated this the 24th day of September, 2008

                            J U D G M E N T

Heard the learned counsel for the petitioner and

Adv.Sri.N.P. Samuel for the second respondent bank.

2. The petitioner stood as a surety and provided his property

as collateral security for a facility availed by the third respondent

from the second respondent bank. On default in repayment, the

bank ultimately filed a suit before a Civil Court in 1991 and after

coming into force of the RDB Act, that suit was transferred to

DRT in 1997. That resulted in Recovery Certificate being issued

on 2-1-2002. In 2008, when the property is brought for sale, the

petitioner states that he was under the impression that third

respondent, being the principal debtor, would discharge the

outstandings. He, in fact, now accuses the bank for not having

initiated distress action until now. With all these facts, he pleads

that as a last opportunity, the sale may be deferred by two

W.P.(C) No.28193/2008

– 2 –

months and the petitioner waives his right for any further notice

and publication and that, within such time, he will make the

payment to avert the sale. Recording this submission and as a

last opportunity, it is ordered that the impugned sale shall stand

adjourned to the date immediately after two months, without any

fresh proclamation or notice to the petitioner. This is the last

chance and no further adjournment will be allowed by the

Recovery Officer.

THOTTATHIL B. RADHAKRISHNAN,
JUDGE

skr/25/9