Sivakumar T.V vs The Thathamangalam Service ...
2021 Latest Caselaw 15378 Ker

W.P(C).4518/2018
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                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                   THE HONOURABLE MR. JUSTICE SUNIL THOMAS
      THURSDAY, THE 22ND DAY OF JULY 2021 / 31ST ASHADHA, 1943
                            WP(C) NO. 4518 OF 2018
PETITIONER/S:

             SIVAKUMAR T.V
             S/O.VELAYUDASWAMI,NAVUKODU(H),THATHAMANGALAM,PALAKKAD
             DISTRICT.

             BY ADVS.
             SRI.K.B.ARUNKUMAR
             SRI.RANJIT BABU
             SMT.S.REKHA KUMARI



RESPONDENT/S:

      1      THE THATHAMANGALAM SERVICE CO-OPERATIVE BANK LTD.NO.P.
             502
             P.O.THATHAMANGALAM,PALAKKAD DISTRICT.PIN-REPRESENTED BY
             ITS SECRETARY.

      2      THE SPECIAL SALE OFFICER
             THE THATHAMANGALAM SERVICE CO-OPERATIVE BANK
             LTD.NO.P.502,P.O.THATHAMANGALAM,PALAKKAD DISTRICT.PIN-

             BY ADV SRI.K.T.THOMAS




      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.07.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P(C).4518/2018
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                               JUDGMENT

Petitioner had availed a cash credit facility loan from the first

respondent/bank. He committed default. Arbitration proceedings were

initiated, which culminated in an arbitration award. In execution of the

award, the property was brought for sale. When Exts.P2 and P3 auction

notices were issued, petitioner approached this Court contending that

petitioner is ready and willing to pay the outstanding amounts in

installments and to include the loan in the OTS scheme.

2. This Court, at the time of admission on 09.02.2018, imposed a

condition that, there will be an interim stay for one month on condition

that the petitioner shall remit a sum of Rs.Two Lakhs. Even though there

were several postings thereafter, it was never reported that the interim

order was complied with. Respondent has filed a detailed counter

affidavit, wherein, it was asserted that, pursuant to the non compliance

of the order, stay got automatically expired after one month and the

property was put for auction. It was auctioned on 10.08.2018, for a sum

of Rs.23,20,000/-. It was submitted by the learned counsel for the society

that, due to the pendency of this Writ Petition, sale could not be

confirmed.

W.P(C).4518/2018

3. Having heard the learned counsel for the petitioner and the

learned counsel for the respondents, I am satisfied that, there is no

bonafides in the claim set up by the petitioner, which is evident from the

fact that payment could not be effected for the last two years.

Accordingly, there is no merit in the writ petition. It is dismissed.

Society will be free to proceed with execution of the award.

Writ Petition is dismissed accordingly.

Sd/-

SUNIL THOMAS JUDGE Sbna/ W.P(C).4518/2018

APPENDIX OF WP(C) 7290/2021

PETITIONER ANNEXURE

EXHIBIT P1 TRUE COPY OF THE RECEIPT ISSUED BY THE BANK

EXHIBIT P2 TRUE COPIES OF THE AUCTION SALE NOTICES DATED 05.01.2018 ISSUED BY THE 2ND RESPONDENT

EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 20.01.2018

EXHIBIT P4 TRUE COPY OF THE REPRESENTATION DATED 01.02.2018 SUBMITTED BEFORE THE 1ST RESPONDENT