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Mathunny Mathew vs State Bank Of Travancore on 17 October, 2008

Kerala High Court
Mathunny Mathew vs State Bank Of Travancore on 17 October, 2008
       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 30645 of 2008(W)



1. MATHUNNY MATHEW
                      ...  Petitioner

                        Vs

1. STATE BANK OF TRAVANCORE
                       ...       Respondent

                For Petitioner  :SRI.M.RAMASWAMY PILLAI

                For Respondent  : No Appearance

The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN

 Dated :17/10/2008

 O R D E R
            THOTTATHIL B.RADHAKRISHNAN, J.
                   -------------------------------------------
                    W.P(C).No.30645 OF 2008
                  -------------------------------------------
             Dated this the 17th day of October, 2008


                              JUDGMENT

This writ petition is filed on the premise that the petitioners

had availed three facilities from the first respondent, which

included a mortgaged loan, home maintenance loan and an

educational loan for the son of the petitioners. It is stated that

the first petitioner become sick and his son could not continue

with the eduction in Andra Pradesh and returned home and now,

attempts to sustain the family by doing some menial jobs locally.

Learned counsel for the Bank states, on instructions, that the

education loan is not connected with the mortgaged loan while

there is yet another mortgaged loan, which is part of the

transactions which have been clubbed together for the purpose

of recovery under the provisions of the SARFAESI Act.

2. Learned counsel for the petitioners gives up all contentions

on behalf of the petitioners and states that his clients give up

WPC.30645/08

Page numbers

their right to challenge the impugned proceedings before the

Debts Recovery Tribunal or other authorities under the Act. He

accordingly states that the petitioners will be able to wipe off the

outstandings only by sale of a portion of the hypothica and that

they may be granted time by a couple of months so that they will

find a purchaser for private sale with the intervention of the

Bank and wipe off all the outstandings in the four different loans,

including the education loan. Taking this submission into

consideration and repelling all other contentions, this writ

petition is ordered directing that if the petitioners deposit an

amount of Rs.1,00,000/- within a period of four weeks, the

impugned proceedings will stand deferred by three months, to

enable the petitioners to wipe off all the loans, including the

education loan.

Having regard to the facts and circumstances, it is ordered

that this judgment will not stand in the way of the Bank

considering any ameliorative measures being extended to the

petitioners, if such request is made. However, if there is default

WPC.30645/08

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in remitting the amount of Rs.1,00,000/- as afore-directed or if

the petitioners do not find a purchaser and have the transaction

effected within the period fixed above, the Bank will be at liberty

to immediately proceed further with the impugned proceedings

and also for recovery as regards the education loan.

Sd/-

THOTTATHIL B.RADHAKRISHNAN,
Judge.

kkb.

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