IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 5739 of 2006(G)
1. T.P. ABDUL MAJEED, S/O. AHAMMED KUTTY
... Petitioner
2. T.P. ABDUL RAHIMAN,
Vs
1. SOUTH MALABAR GRAMEEN BANK LTD.,
... Respondent
For Petitioner :SRI.V.V.ASOKAN
For Respondent :SRI.T.R.RAVI
The Hon'ble MR. Justice PIUS C.KURIAKOSE
Dated :29/06/2007
O R D E R
PIUS C. KURIAKOSE,J.
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W.P.(C) No.5739 of 2006
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Dated: 29th June, 2007
JUDGMENT
The prominent grievance of the writ petitioners who are
judgment-debtors in a mortgage decree obtained by the respondent-
Bank is that the execution court has now ordered sale of the entire
decree schedule property while as a matter of fact sale of a portion of
the property will suffice for discharging the decree debt. Noticing the
above contention this court while admitting the Writ Petition directed
the petitioners to deposit a sum of Rs.One lakh within seven days
from 27.2.2006 as a condition for granting stay. Later on 20.3.2006
a further condition was imposed that a further amount of Rs.One
lakh shall be deposited within 30 days. It is not disputed that both the
above conditions have been complied with by the petitioners
promptly.
2. Having regard to the rival submissions and the grounds
raised in the Writ Petition, I am of the view that the Writ Petition can
be disposed of by issuing the following directions:
The order of stay presently granted will continue for another six
months from today. It is open to the petitioner to identify a purchaser
for any portion of the decree schedule property in the meanwhile.
W.P.C.No.5739/06 – 2 –
Once a purchaser is identified, the concurrence of the respondent-
Bank will be sought for. Even if the respondent-Bank does not grant
concurrence, the petitioners will file an application before the court
below producing copy of the agreement entered into with the
prospective purchaser and seek permission of the court for sale of the
property covered by the agreement. The court below will consider
that application and pass appropriate orders with notice to the
respondent-Bank and thereby facilitate payment of the entire balance
decree debt by the prospective purchaser so that the decree is fully
satisfied. The whole exercise shall be completed within six months of
the petitioners producing copy of the judgment. The stay order, at
any rate, will not continue beyond the period of six months period
mentioned above.
The Writ Petition is disposed of as above. No costs.
srd PIUS C.KURIAKOSE, JUDGE