IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 24TH SEPTEMBER 2008 / 2ND ASWINA 1930 WP(C).No. 28193 of 2008(F) -------------------------------------- DRC.638/2008 of DEBT RECOVERY TRIBUNAL, ERNAKULAM PETITIONER(S): ----------------------- M.J.GEORGE, MANAYANICKIL HOUSE, KANJIKUZHI, KOTTAYAM. BY ADV. SRI.P.V.JYOTHI PRASAD RESPONDENT(S): ------------------------ 1. THE RECOVERY OFFICER, DEBTS RECOVERY TRIBUNAL, ERNAKULAM. 2. THE FEDERAL BANK LTD, MATTANCHERY. 3. T.M.THOMAS, S/O.MATHEW, XL/665, T A K COMPLEX, CHITTOOR ROAD, COCHIN.11. ADV.SRI.N.P.SAMUEL, SC, FEDERAL BANK FOR R2. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------------------------ W.P.(C) NO.28193 OF 2008 (F) ------------------------------------------------------------------------ Dated this the 24th day of September, 2008 J U D G M E N T Heard the learned counsel for the petitioner and Adv.Sri.N.P. Samuel for the second respondent bank. 2. The petitioner stood as a surety and provided his property as collateral security for a facility availed by the third respondent from the second respondent bank. On default in repayment, the bank ultimately filed a suit before a Civil Court in 1991 and after coming into force of the RDB Act, that suit was transferred to DRT in 1997. That resulted in Recovery Certificate being issued on 2-1-2002. In 2008, when the property is brought for sale, the petitioner states that he was under the impression that third respondent, being the principal debtor, would discharge the outstandings. He, in fact, now accuses the bank for not having initiated distress action until now. With all these facts, he pleads that as a last opportunity, the sale may be deferred by two W.P.(C) No.28193/2008 - 2 - months and the petitioner waives his right for any further notice and publication and that, within such time, he will make the payment to avert the sale. Recording this submission and as a last opportunity, it is ordered that the impugned sale shall stand adjourned to the date immediately after two months, without any fresh proclamation or notice to the petitioner. This is the last chance and no further adjournment will be allowed by the Recovery Officer. THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/25/9