IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.S.GOPINATHAN TUESDAY, THE 4TH OCTOBER 2011 / 12TH ASWINA 1933 WA.No. 1386 of 2011() --------------------- AGAINST THE JUDGEMENT IN WPC.26010/2010 Dated 02/09/2010 .................... APPELLANTS/PETITIONERS: --------------------------------------- 1. K.K. SUDHEER KUMAR, PROPRIETOR, M/S. WOOD ARTS, LAKSHMI NIVAS, DHARMADAM PIN – 670 106. 2. MRS. SHEENA SUDHEER, DEVISADHANAM, KAKKUZHI PALAM ROAD, NEAR KUTTAPPAN COLONY, KARUVASSERY, KOZHIKODE -10. BY ADV. SRI.NIDHI BALACHANDRAN RESPONDENTS/RESPONDENTS: ---------------------------------------------- 1. THE INDIAN OVERSEAS BANK, WEST HILL BRANCH, REPRESENTED BY ITS MANAGER, DR. RAJARAM BUILDING, CHAKKORATHUKULAM (P.O.), ERANJIPPALAM, KOZHIKODE C- 673 006. 2. THE AUTHORIZED OFFICER, THE INDIAN OVERSEAS BANK, WEST HILL BRANCH DR. RAJARAM BUILDING, CHAKKORATHUKULAM (P.O.), ERANJIPPALAM, KOZHIKODE – 673 006. ADV. SRI .LEO GEORGE,SC,INDIAN OVERSEAS BANK THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 04/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.A. 1386/2011 APPENDIX ANNEXURES: ANNEXURE I – TRUE COPY OF THE MEDICAL CERTIFICATE ISSUED TO THE 1ST APPELLANT. ANNEXURE II – TRUE COPY OF THE ADVERTISEMENT ISSUED BY THE 2ND RESP0NDENT. // TRUE COPY // P.S. TO JUDGE. KNC/- C.N. RAMACHANDRAN NAIR & P.S. GOPINATHAN, JJ. = = = = = = = = = = = = = = = = = = W.A. NO. 1386 of 2011 = = = = = = = = = = = = = = = = = = DATED THIS, THE 4th DAY OF OCTOBER, 2011. J U D G M E N T C.N. Ramachandran Nair, J. Heard counsel for the appellant and standing counsel for respondent Bank. The loan availed by the appellants is secured on two items of valuable properties in the town. The appellants' undertaking is to sell the property and settle the dues to the respondents within two months. We notice that even during the period there was no stay, the Bank could not sell the property and recover the arrears. We, therefore, feel two months time can be granted as a last chance to settle the liability by arranging sale of the mortgage properties. Appellant can enter into agreement for sale. However, sale deed can be executed only after arrears are cleared to the Bank by the purchaser under agreement or by the appellants and on the Bank releasing the title deeds. If the appellants could not settle the liability by 10th December, there will be a direction to the appellant to vacate the premises and hand over possession of the property to the manager/authorised officer of the first respondent on 11th December for the W.A. 1386/2011 2 Bank to arrange purchasers and sell the property. If the appellants cause any obstruction or interfere with the sale, the Bank is free to bring to the notice of the Court for appropriate action against the appellant. The recovery will stand stayed till 10th December, 2011. C.N. RAMACHANDRAN NAIR, (JUDGE) P.S. GOPINATHAN, (JUDGE) KNC/-