V.D. MATHEW v. STATE BANK OF TRAVANCORE

H.L.DATTU, C.J. & THOMAS P.JOSEPH, J. ------------------------------------------- W.A.No.1924 of 2008 ------------------------------------------ Dated, this the 30th day of September, 2008JUDGMENTH.L.Dattu, C.J.This writ appeal is directed against the orders passed by the learned Single Judge in W.P.(C) No.11101 of 2008 dated 7th April, 2008.By the impugned order, the learned Single Judge while confirming Ext.P6order passed by the Debts Recovery Tribunal, has rejected the writ petition. (2) The admitted facts are: The appellant before us had borrowed certain funds from the respondent Bank. Since he defaulted inpaying the amounts due to the Bank, the Bank had approached the civil court in O.S.No.15 of 2000. The civil court has decreed the suit by its orders dated 10th December, 2004. (3) The respondent Bank thereafter has filed an application under Section 19 of the Recovery of Debts Due to Banks and FinancialInstitutions Act, 1993 ('the Act' for short) before the Debts RecoveryTribunal.

The Tribunal has passed Ext.P6 order after rejecting all the objections raised by the appellant. It is the correctness or otherwise of the said order that is called in question in the writ petition filed before this Court. (4) In the normal course, we would have disposed of this writ appeal solely on the ground that, if for any reason the appellant is W.A.No.1924 of 20082aggrieved by Ext.P6 order passed by the Debts Recovery Tribunal, he can question the same before the appellate Tribunal as provided under Section20 of the Act. (5) Sri.B.Krishna Mani, learned counsel appearing for the appellant, submits that the appellant has only one residential house and that the appellant is prepared to discharge the entire loan liability of the respondent Bank within ten months from today. (6) Sri.M.Pathros Mathai, learned Senior Counsel appearing for the respondent Bank, would inform us that pursuant to the orders passed by the Debts Recovery Tribunal (Ext.P6 order), the recovery officer has initiated proceedings to recover the amounts due to the Bank by effecting sale of the immovable property of the appellant and the same is going to be held on 30th September, 2008.

(7) Keeping in view the peculiar facts and circumstances of the case and also keeping in view the financial difficulties pleaded by the appellant, we intend to grant some breathing time to the appellant to settle the amounts due to the respondent Bank. (8) Accordingly, we pass the following: ORDERi) The sale proceedings initiated by the recovery officer of the Debts Recovery Tribunal shall go on as scheduled earlier. However, we W.A.No.1924 of 20083make it clear that the recovery officer shall not confirm the sale for a period of six months from today.ii) The appellant shall deposit, as undertaken by him in the affidavit filed before this Court, the entire loan liability of the respondentBank within six months from today.iii) If for any reason, the appellant commits any default insettling the amounts due to the respondent Bank within the time granted byus, the recovery officer is at liberty to confirm the sale without reference to this Court. (9) With these observations and directions, the writ appeal isdisposed of. (10) Consequently, I.A.No.864 of 2008 stands rejected. Ordered accordingly. (H.L.DATTU) CHIEF JUSTICE (THOMAS P.JOSEPH) JUDGE vns