{"id":73154,"date":"2010-02-04T00:00:00","date_gmt":"2010-02-03T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/t-s-swaminathan-vs-the-chiefmanager-on-4-february-2010"},"modified":"2014-09-23T21:48:41","modified_gmt":"2014-09-23T16:18:41","slug":"t-s-swaminathan-vs-the-chiefmanager-on-4-february-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/t-s-swaminathan-vs-the-chiefmanager-on-4-february-2010","title":{"rendered":"T.S.Swaminathan vs The Chiefmanager on 4 February, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">T.S.Swaminathan vs The Chiefmanager on 4 February, 2010<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 1560 of 2010(T)\n\n\n1. T.S.SWAMINATHAN, AGED 36, S\/O.LATE\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. THE CHIEFMANAGER, (AUTHORISED OFFICER)\n                       ...       Respondent\n\n2. SRI.PADMADAS, S\/O.KRISHNAN, ROHINI,\n\n3. MISS.K.SHOBHA, D\/O.KRISHNAN, ROHINI,\n\n                For Petitioner  :SRI.I.DINESH MENON\n\n                For Respondent  : No Appearance\n\nThe Hon'ble MR. Justice P.R.RAMACHANDRA MENON\n\n Dated :04\/02\/2010\n\n O R D E R\n               P.R.RAMACHANDRA MENON, J.\n                       -------------------------\n                   W.P (C) No.1560 of 2010\n                      --------------------------\n              Dated this the 4th February, 2010\n\n                        J U D G M E N T\n<\/pre>\n<p>      The proceedings taken by the respondent Bank<\/p>\n<p>issuing notice under Section 13 (2) of the SARFAESI Act<\/p>\n<p> were challenged by the petitioner earlier by filing W.P (C)<\/p>\n<p>No.28752 of 2009 ,which led to Ext.P5 judgment passed by<\/p>\n<p>this Court on      6.11.2009, whereby, interference was<\/p>\n<p>declined, however, with liberty to approach the Bank for<\/p>\n<p>permitting the petitioner to have private sale or One Time<\/p>\n<p>Settlement or for waiver of the interest as the case may be,<\/p>\n<p>giving simultaneous direction to the bank to consider and<\/p>\n<p>finalise the same.\n<\/p>\n<p>      2.   It is the case of the petitioner that, pursuant to<\/p>\n<p>Ext.P5 judgment, the petitioner filed Ext.P6 before the<\/p>\n<p>bank which was considered and positively responded as<\/p>\n<p>per Ext.P7, expressing willingness to release &#8216;two&#8217; items of<\/p>\n<p>properties for &#8216;private sale&#8217;; subject to the conditions as<\/p>\n<p>stipulated therein.      In the meanwhile, the petitioner<\/p>\n<p>found out some prospective buyers with whom Exts.P8, P9<\/p>\n<p>W.P (C) No.1560 of 2010<br \/>\n<span class=\"hidden_text\">                                  2<\/span><\/p>\n<p>and P10 agreements for sale have been executed. The<\/p>\n<p>contention of the petitioner is that the sale could not take<\/p>\n<p>place for the reason that somebody else filed a Civil Suit<\/p>\n<p>before the Sub Court, Thrissur, wherein, the property<\/p>\n<p>forming the subject matter of private sale as above, has<\/p>\n<p>been caused to be attached as per order dated 13.1.2010<\/p>\n<p>issuing Ext.P11 notice to the petitioner. It is also stated by<\/p>\n<p>the learned counsel for the petitioner that pursuant to<\/p>\n<p>Ext.P11 notice, the petitioner has appeared before the Civil<\/p>\n<p>Court and has taken earnest efforts to see that the<\/p>\n<p>attachment is lifted and the matter now stands adjourned<\/p>\n<p>to 15.2.2010. The only limited prayer before this Court is<\/p>\n<p>to provide some breathing time to get the attachment lifted,<\/p>\n<p>so as to facilitate the &#8216;private sale&#8217; and to clear the liability<\/p>\n<p>to the Bank.\n<\/p>\n<p>     3.    The learned counsel appearing for the Bank<\/p>\n<p>submits, on instructions, that there is absolutely no merits<\/p>\n<p>or bonafides in the claim made by the petitioner, more so,<\/p>\n<p>since Exts.P8 to P10 agreements for sale were executed in<\/p>\n<p>October 2009 and further the period for completion of the<\/p>\n<p>W.P (C) No.1560 of 2010<br \/>\n<span class=\"hidden_text\">                                   3<\/span><\/p>\n<p>sale was only &#8216;one month&#8217; from the date of the agreement,<\/p>\n<p>which is already over. It is also brought to the notice of<\/p>\n<p>this Court that the total liability of the petitioner to the<\/p>\n<p>Bank will cross Rs.1.65 crores; whereas the amount likely<\/p>\n<p>to be procured by the sale of the properties covered by<\/p>\n<p>Exts.P8 to P10 will be only around Rs.25 lakhs.<\/p>\n<p>      4.    The learned counsel for the petitioner submits<\/p>\n<p>that the understanding between          the petitioner and the<\/p>\n<p>Bank was to go for a private sale of the properties in<\/p>\n<p>question and to remit the entire amount procured by way<\/p>\n<p>of sale to the bank, upon which loan account was to be<\/p>\n<p>rescheduled enabling the petitioner to clear the liability in<\/p>\n<p>a phased manner.\n<\/p>\n<p>      5.    In any view of the matter, the fact remains that<\/p>\n<p>the liability of the petitioner is still to be satisfied and that<\/p>\n<p>no lapse or failure is pointed out on the part of the bank in<\/p>\n<p>pursuing the remedy available to them under the<\/p>\n<p>SARFAESI Act. This being the position, no interference is<\/p>\n<p>warranted in this writ petition and the Bank is free to<\/p>\n<p>proceed with further steps, in accordance with law.<\/p>\n<p>W.P (C) No.1560 of 2010<br \/>\n<span class=\"hidden_text\">                                4<\/span><\/p>\n<p>However, taking note of the persuasive submissions made<\/p>\n<p>from the part of the petitioner to give some breathing time<\/p>\n<p>to move the Sub Court, Thrissur, the respondent bank shall<\/p>\n<p>proceed with such further steps only after 28.2.2010.<\/p>\n<p>     The Writ Petition is dismissed accordingly.<\/p>\n<p>                          P.R.RAMACHANDRA MENON,<br \/>\n                                      JUDGE<\/p>\n<p>ma<\/p>\n<p>W.P (C) No.1560 of 2010<br \/>\n<span class=\"hidden_text\">                           5<\/span><\/p>\n<p>W.P (C) No.1560 of 2010<br \/>\n<span class=\"hidden_text\">                           6<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court T.S.Swaminathan vs The Chiefmanager on 4 February, 2010 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 1560 of 2010(T) 1. T.S.SWAMINATHAN, AGED 36, S\/O.LATE &#8230; Petitioner Vs 1. THE CHIEFMANAGER, (AUTHORISED OFFICER) &#8230; Respondent 2. SRI.PADMADAS, S\/O.KRISHNAN, ROHINI, 3. MISS.K.SHOBHA, D\/O.KRISHNAN, ROHINI, For Petitioner :SRI.I.DINESH MENON For Respondent : No Appearance [&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-73154","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>T.S.Swaminathan vs The Chiefmanager on 4 February, 2010 - 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\/t-s-swaminathan-vs-the-chiefmanager-on-4-february-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T.S.Swaminathan vs The Chiefmanager on 4 February, 2010 - Free Judgements of Supreme Court &amp; 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