IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 3RD APRIL 2009 / 13TH CHAITHRA 1931 WP(C).No. 24569 of 2008(Y) ----------------------------------------- PETITIONER(S): ------------------------ 1. THOMAS MATHEW, S/O ABRAHAM MATHAI, PLATHOTTATHIL HOUSE, UTHIMOODU P.O., RANNI, PATHANAMTHITTA DISTRICT. 2. MATHEW M. PHILIP, S/O MATAI PEELIPOSE, MELETHOPPIL HOUSE, UTHIMOODU P.O., RANNI , PATHANAMTHITTA DISTRICT, REPRESENTED BY HIS POWER OF ATTORNEY HOLDER ALEYAMMA MATHEW, AGED 49 YEARS, W/O MATHEW M. PHILIP, MELETHOPPIL HOUSE, UTHIMOODU P.O., PATHANAMTHITTA DISTRICT. BY ADVS. MR.C.RAJENDRAN, MR.V.ANIL. RESPONDENT(S): --------------------------- 1. STATE BANK OF INDIA, PATHANAMTHITTA BRANCH, PATHANAMTHITTA DISTRICT. 2. THE AUTHORIZED OFFICER, STATE BANK OF INDIA, PATHANAMTHITTA BRANCH, PATHANAMTHITTA DISTRICT. R1 & R2 BY ADVS. MR.K.K.CHANDRAN PILLAI, SC, SBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/04/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.24569 of 2008-Y = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 3rd day of April, 2009. JUDGMENT 1.The petitioners are debtors of the first respondent. Three items of properties have been brought to sale as per Ext.P2 issued on 8th July, 2008 for a total outstandings of Rs.50,48,324.85 as on 31.8.2006. The accruals thereon would normally pitch it now at, at least Rs.65 lakhs. This writ petition is filed alleging that the upset price fixed is too low and that one Vijayakumar has offered to purchase an item of property for Rs.17 lakhs. 2.At the time of admission, it was submitted by the learned counsel for the petitioners that the prospective purchaser had deposited an amount of Rs.17 lakhs. No deposit was made in the loan account. It could have been in a suspense WP(C)24569/08 -: 2 :- account, if at all. But the fact remains that now the petitioners state that Vijayakumar has resiled from the offer and they have another private purchaser who would offer Rs.15 lakhs. It is not for this Court to compel the bank to take the offers of the petitioners made through this Court. I do not find any jurisdictional error or legal infirmity in the impugned proceedings. In the result, this writ petition is dismissed, however clarifying that if the petitioners pay off the entire outstandings and accruals even through a third party who would purchase the entire holdings or part of the holdings that may be sufficient to satisfy the debt, the bank will stand satisfied by that, provided such action is concluded within one month from now, having regard to the fact that Ext.P2 was issued on 8.7.2008. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/060409