IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 25TH AUGUST 2009 / 3RD BHADRA 1931 WP(C).No. 24007 of 2009(U) -------------------------- PETITIONER: --------------- T.P.AHAMMED,AGED 57,S/O.MAMMU,RAHATH MANZIL,P.O.KAYANI,MATTANNUR,KANNUR. BY ADV. MR. K.S.MADHUSOODANAN RESPONDENT: --------------- REGIONAL MANAGER,KERALA STATE CO-OPERATIVE BANK LTD,KOZHIKODE REGIONAL OFFICE, COLOMBO COMPLEX,M.M.ALI ROAD,KOZHIKODE. ADV. MR. NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 24007 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 25th day of August, 2009 JUDGMENT The petitioner is challenging the proceedings taken by the respondent Bank invoking the provisions under the SARFAESI Act, in the course of realization of the amount, stated as due from the petitioner, under a loan transaction. 2. The case of the petitioner is that, the property over which the security interest has been created is having a total extent of 88 cents with a residential building thereon and that even the sale of a small portion of about 20 cents itself will procure sufficient amount to discharge the entire liability due to the Bank. 3. When the matter came up for consideration the last time, the learned counsel for the respondent Bank was required to get necessary instructions, as to the suggestion made from the part of the petitioner, for arranging 'private sale' in respect of a portion of the property as aforesaid. The learned counsel on instructions submits that, the Bank does not have any objection to permit the 'private sale' of the said extent of 20 cents and the only impediment is that, the property of 88 cents is covered by a single document and that the 'private sale' can be arranged by the petitioner at his cost and risk. WP (C) No. 24007 of 2009 : 2 : 4. After hearing both the sides, the petitioner is permitted to facilitate the 'private sale' of a portion of 20 cents of the total property, bringing prospective purchasers and to have the entire sale consideration paid directly to the Bank, to the extent it required to discharge the liability to the Bank. The steps in this regard shall be finalized within two months and if it does not bring the desired result, the respondent Bank will be at liberty to proceed with further steps for sale of the balance property/entire property as the case may be, for realization of the entire/outstanding amount due to the Bank. Subject to the above, the coercive steps, stated as being pursued against the petitioner shall be kept in abeyance for a period of two months. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd