IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 22ND JANUARY 2008 / 2ND MAGHA 1929 OP.No. 15763 of 2001(B) ---------------------------------- PETITIONERS: --------------------- 1. SALGUNA, W/O. NANU, THEKKEKARA HOUSE, CHELANGARA, MANNARKKAD.P.O., PALAKKAD. 2. NANU, S/O. THAPPUNNI, THEKKEKARA HOUSE, CHELANGARA, MANNARKKAD.P.O., PALAKKAD. 3. SREEJA, D/O. KUMARAN, THEKKEKARA HOUSE, CHELANGARA, MANNARKKAD .P.O., PALAKKAD. BY ADV. SRI.K.MOHANA KANNAN. RESPONDENTS: ----------------------- 1. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 2. SALE OFFICER, THE PERINTHALMANNA CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LIMITED, PERINTHALMANNA.P.O., MALAPPURAM. 3. PERINTHALMANNA CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., REPRESENTED BY ITS SECRETARY. BY GOVERNMENT PLEADER ADV. SRI.P.C.SASIDHARAN, SRI.P.K.VIJAYAMOHANAN, THIS ORIGINAL PETITION HAVING BEEN FINALLY HEARD ON 22/01/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ORDER ON C.M.P. NO. 24663/2001 IN O.P. NO. 15763/2001-B DISMISSED 22/01/2008. SD/- THOTTATHIL B.RADHAKRISHNAN, JUDGE. APPENDIX PETITIONER'S EXHIBITS : EXT.P.1: COPY OF THE SALE DEED EXECUTED IN FAVOUR OF THE P.1. DTD. 02/01/99. EXT.P.2: COPY OF THE SALE DEED EXECUTED IN FAVOUR OF THE P.1. DTD. 22/12/98. EXT.P.3: COPY OF THE SALE DEED EXECUTED IN FAVOUR OF THE P.2. DTD. 15/12/98. EXT.P.4: COPY OF THE SALE DEED EXECUTED IN FAVOUR OF THE P.3. DTD. 02/01/99. EXT.P.5: COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER 1 & 3 DTD. 02/03/2001. EXT.P.5.A: COPY OF THE COMMUNICATION DTD. 28/04/2001 RECEIVED FROM THE POSTAL DEPARTMENT. EXT.P.6: COPY OF THE GUIDELINES ISSUED BY THE RESERVE BANK OF INDIA DTD. 27/07/2000. EXT.P.7: COPY OF THE RECEIPT ISSUED BY THE R.3. TO THE P.2. EXT.P.8: COPY OF THE DEMAND NOTICE NO:EP.5182000-01 ISSUED BY THE R.2. DTD. 09/04/2001. EXT.P.9: COPY OF THE DEMAND NOTICE 60/2000-01 ISSUED BY THE R.2. DTD. 09/04/2001. EXT.P.10: COPY OF THE REPRESENTATION SENT BY THE PETITIONERS 2 AND 3 TO RESPONDENT NO. 3. EXT.P.11: COPY OF THE POSTAL RECEIPT RECEIVED BY THE PETITIONER. EXT.P.12: COPY OF THE SALE REPORT IN E.P. 51/2001 AND 60/2001 DTD. 26/05/2001 PREPARED BY THE R.2. O.P. NO. 15763/2001-B: EXT.P.13: COPY OF THE COVERING LETTER DTD. 04/07/2001 WITH A COPY OF THE D.D. NO. AA 0865020. RESPONDENT'S EXHIBIT: EXT.R3.A: COPY OF THE REPRESENTATION DTD. 20/02/2001 FILED BY THE P.2. BEFORE THE SALE OFFICER AND THE BANK. //TRUE COPY// prv. Thottathil B. Radhakrishnan, J. ================================== O.P.No.15763 of 2001 ================================== Dated this the 22nd day of January, 2008. JUDGMENT Certain items of properties were mortgaged to the third respondent Bank by two persons, who had availed loans. They later sold those items to the petitioners. This means that the petitioners have purchased the equity of redemption. They, having thus obtained the right to redeem, the learned counsel for the petitioners is right in saying that they were also entitled to notice in terms of Section 19(2)(ii) of the Kerala State Co-operative Agricultural and Rural Development Banks Act. This Court had admitted the writ petition and granted an interim order. However, the sale officer ignored that order and conducted the sale. As of now, the confirmation of sale is stayed. Against the sale officer, proceedings were initiated under the Contempt of Courts Act. That ended in imposition OP15763/2001 -:2:- of punishment on him. 2. Not being swayed by the imposition of punishment in the contempt jurisdiction, it needs to be noted that the sale that stands impugned as per the amended writ petition is one which was on the teeth of the orders of this Court and for that short reason, the impugned sale has to go. 3. Learned counsel for the petitioners however submitted that, the petitioners are prepared to wipe off the entire outstandings and that the Bank may be gracious enough to extend to the petitioners the benefit of One Time Settlement Scheme or other ameliorative measures, though they are the holders of the equity of redemption and not the loanees as such. 4. Having regard to what is aforesaid, the impugned sale is set aside and the petitioners are OP15763/2001 -:3:- relegated to make a representation to the third respondent Bank, which will consider the same to let the petitioners close the transaction on such terms as the Bank would state, and have the documents released in accordance with law. It is further directed that the petitioners shall approach the Bank in terms of the directions contained herein, within a period of three weeks from the date of receipt of a copy of this judgment. Otherwise the property would be put to sale. Writ petition is disposed of in the above terms. Thottathil B.Radhakrishnan, Judge. sl. OP15763/2001 -:4:- Thottathil B. Radhakrishnan, J. ================================== O.P.No.15763 of 2001 ================================== JUDGMENT Dated:22-1-2008