{"id":271359,"date":"2008-01-08T00:00:00","date_gmt":"2008-01-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/n-subramaya-nagarajan-vs-the-financial-corporation-on-8-january-2008"},"modified":"2019-02-05T06:22:13","modified_gmt":"2019-02-05T00:52:13","slug":"n-subramaya-nagarajan-vs-the-financial-corporation-on-8-january-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/n-subramaya-nagarajan-vs-the-financial-corporation-on-8-january-2008","title":{"rendered":"N.Subramaya Nagarajan vs The Financial Corporation on 8 January, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">N.Subramaya Nagarajan vs The Financial Corporation on 8 January, 2008<\/div>\n<pre id=\"pre_1\">       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nCRP No. 852 of 2003()\n\n\n1. N.SUBRAMAYA NAGARAJAN,\n                      ...  Petitioner\n2. N.MUTHUSWAMI, PARTNER, -DO- -DO-.\n3. N.PADMANABHAN, PARTNER, -DO- -DO-.\n4. N.LEXMIRAM, PARTNER,  -DO-  -DO-.\n5. N.MANGAYARKARSI AMMAL,\n6. N.SIVASURYA KUMAR, PARTNER, -DO- -DO-.\n\n                        Vs\n\n\n\n1. THE FINANCIAL CORPORATION,\n                       ...       Respondent\n\n2. M\/S. NELLAI SONS, A PARTNERSHIP FIRM,\n\n3. M.N.NAYAGOM, MG.PARTNER, -DO- -DO-.\n\n4. (ADDL): M.P.DIVAKARAN,\n\n                For Petitioner  :SRI.S.ANANTHASUBRAMANIAN\n\n                For Respondent  :SRI.V.B.UNNIRAJ, SC, KFC\n\nThe Hon'ble MR. Justice HARUN-UL-RASHID\n\n Dated :08\/01\/2008\n\n O R D E R\n                              HARUN-UL-RASHID, J.\n\n             ----------------------------------------------------------------\n\n                              C.R.P. NO. 852 OF 2003\n\n             ----------------------------------------------------------------\n\n\n                     Dated this the 8th  day of January, 2008\n\n\n                                       O R D E R\n<\/pre>\n<p id=\"p_1\">       Judgment   debtors   2   to   6   and   8     have   filed   this   revision   petition<\/p>\n<p>aggrieved by the order dated 10.2.2003 in E.P. No.96 of 1990 in O.P.(FC)<\/p>\n<p>No.100 of 1982 on the  file of   the Additional District  Court, Alappuzha.\n<\/p>\n<p id=\"p_1\">The revision petitioners are partners of a firm represented by the Managing<\/p>\n<p>Partner.     By   the   impugned   order,   the   court   below   overruled     all   the<\/p>\n<p>objections  raised  by the  judgment  debtors  to  Rule  66  notice  and  ordered<\/p>\n<p>proclamation and sale of the property on 27.3.2003.\n<\/p>\n<p id=\"p_2\">       2.     The   revision   petitioners   submitted   before   this   Court   that   the<\/p>\n<p>property belonging to them having an extent of 60 cents with a building is<\/p>\n<p>situated  in the heart of the commercial town in Alappuzha.  According to<\/p>\n<p>them, the property would fetch more than  Rs.35 lakhs while the claim in<\/p>\n<p>the execution petition is only Rs.3,35,000\/-.   It is also submitted that they<\/p>\n<p>had applied for issuance of a commission to inspect the property and to file<\/p>\n<p>a report as to whether  sale of 2 cents of property  will not be sufficient to<\/p>\n<p><span class=\"hidden_text\" id=\"span_1\">C.R.P. NO.852\/2003                                2<\/span><\/p>\n<p>discharge the decree debt.    It is further submitted that without considering<\/p>\n<p>the   objection   regarding   the   value   of   the   property   and   whether   sale   of   a<\/p>\n<p>portion   of   the   property   will   satisfy   the   decree,   the   court   below   ordered<\/p>\n<p>proclamation and sale of the charged property.\n<\/p>\n<p id=\"p_3\">           3.   The court below, on a consideration  of the objections raised  by<\/p>\n<p>the   judgment   debtors   incorporated   the   objections   regarding   valuation   in<\/p>\n<p>the   sale   proclamation.     The   court   below   also     held   that   the   point   as   to<\/p>\n<p>whether  sale  of a  portion  of the  property will  be  sufficient  to  satisfy the<\/p>\n<p>entire decree is a matter for concern only at the time when it comes up for<\/p>\n<p>sale.\n<\/p>\n<p id=\"p_4\">           4.     The   revision   petitioners   contended   that     if   the   entire   property<\/p>\n<p>happened to be sold in execution of the decree in a case where sale of a<\/p>\n<p>portion of the property will be sufficient to satisfy the decree, such a sale<\/p>\n<p>will cause irreparable loss and injury to them.     They also contended that<\/p>\n<p>during   all   these   years     regular   payments   were   made   towards   the   decree<\/p>\n<p>debt   and   that   even   at   the   time   of   filing   the   revision,   an   amount   of<\/p>\n<p>Rs.50,000\/- was paid  as directed by this Court.     The question whether a<\/p>\n<p>portion of the property alone is sufficient to satisfy the decree is a question<\/p>\n<p>which was not gone into by the execution court.  In view of the seriousness<\/p>\n<p><span class=\"hidden_text\" id=\"span_1\">C.R.P. NO.852\/2003                               3<\/span><\/p>\n<p>of the situation and  as submitted by the learned counsel appearing for the<\/p>\n<p>revision   petitioners   that   the   property   is   a   very   valuable   one   fetching<\/p>\n<p>several   lakhs   per   cent,     I   am   of   the   view   that     the   court   below   should<\/p>\n<p>bestow attention to the fact whether  sale of a small portion of the property<\/p>\n<p>will be sufficient  for the purpose of satisfying the decree.\n<\/p>\n<p id=\"p_5\">        5.  In the result, the Civil Revision Petition is  disposed of directing<\/p>\n<p>the court below to consider  the  question  whether portion  of the property<\/p>\n<p>sought to be sold is sufficient for the purpose of proclamation of sale.  The<\/p>\n<p>court below shall dispose of the matter within a period of two months from<\/p>\n<p>the date of receipt of a copy of this order.\n<\/p>\n<p id=\"p_6\">        The records shall be transmitted to the court below.\n<\/p>\n<p id=\"p_7\">                                           (HARUN-UL-RASHID, JUDGE)<\/p>\n<p>sp\/<\/p>\n<p><span class=\"hidden_text\" id=\"span_2\">C.R.P. NO.852\/2003    4<\/span><\/p>\n<p>                           HAURN-UL-RASHID, J.\n<\/p>\n<p id=\"p_8\">                           C.R.P.NO852\/2003<\/p>\n<p>                               O R D E R<\/p>\n<p>                           8TH JANUARY, 2008<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court N.Subramaya Nagarajan vs The Financial Corporation on 8 January, 2008 IN THE HIGH COURT OF KERALA AT ERNAKULAM CRP No. 852 of 2003() 1. N.SUBRAMAYA NAGARAJAN, &#8230; Petitioner 2. N.MUTHUSWAMI, PARTNER, -DO- -DO-. 3. N.PADMANABHAN, PARTNER, -DO- -DO-. 4. N.LEXMIRAM, PARTNER, -DO- -DO-. 5. N.MANGAYARKARSI AMMAL, 6. N.SIVASURYA KUMAR, PARTNER, -DO- -DO-. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-271359","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>N.Subramaya Nagarajan vs The Financial Corporation on 8 January, 2008 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/n-subramaya-nagarajan-vs-the-financial-corporation-on-8-january-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N.Subramaya Nagarajan vs The Financial Corporation on 8 January, 2008 - Free Judgements of Supreme Court &amp; 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