IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE J.B.KOSHY & THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN WEDNESDAY, THE 16TH JULY 2008 / 25TH ASHADHA 1930 RP.No. 754 of 2008() -------------------- AGAINST THE JUDGEMENT/ORDER IN WA.1403/2008 dated 7/7/2008 .................... REVIEW PETITIONER:APPELLANT:PETITIONER: ------------------------------------------------------------------------- K. SURESH KUMAR, MANAGING PARTNER, M/S. ABHIRAMI JEWEL PARADISE, MAIN ROAD, NOORANAD. BY ADV. SRI.P.A.MOHAMMED SHAH RESPONDENTS: RESPODENTS:RESPONDENTS: ------------------------------------------------------------------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS CHAIRMAN, THIRUVANANTHAPURAM. 2. STATE BANK OF TRAVANCORE, NOORNAD BRANCH REPRESENTED BY IT'S BRANCH MANAGER. 3. AUTHORIZED OFFICER (CHIEF MANAGER), STATE BANK OF TRAVANCORE, NOORNAD. BY ADV. SRI. SATHISH NINAN THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 16/07/2008, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: Kss J.B. Koshy & P.N.Ravindran, JJ. -------------------------------------- R.P.No.754 of 2008 in W.A. No. 1403 of 2008 --------------------------------------- Dated this the 16th day of July, 2008 Order Koshy,J. Petitioner's property was sold in respect of the loan taken from the second respondent bank on the basis of proceedings taken under the Securitisation Act. On the undertaking that petitioner will pay the amount, the following order was passed in the judgment under review: "In these circumstances, the sale certificate shall not be issued till 15.7.2008. If the petitioner is able to pay the entire amount on or before 12.7.2008, the petitioner can file a petition as provided under the Act before the authorities for setting aside the sale and till 15.7.2008, the sale certificate shall not be issued." Now, it is submitted that he will pay Rupees Fifty lakhs immediately and pay the balance dues on or before 30.7.2008. The bank is more interested in getting back the money. It is a public sector bank. In the above circumstances, if the petitioner pays Rupees Fifty lakhs on or before 19.7.2008 and pay the entire balance on or before 30.7.2008, the sale certificate shall not be issued. On payment of the entire R.P.No.754/2008 in W.A.No.1403/2008 -: 2 :- amount due to the bank on or before 30.7.2008, sale will stand set aside. However, expenses incurred by the purchaser of the property including interest have to be paid by the petitioner through bank. Expenses include amount deposited by the purchaser with 9% interest from the date of deposit. Documents regarding the property need be given to the petitioner only after settling the claim through the bank. If the entire amount due to the petitioner is not paid before 30.7.2008, the sale certificate shall be issued immediately. No further extension application will be entertained. The review petition is disposed of accordingly. J.B.Koshy Judge P.N.Ravindran Judge vaa J.B. KOSHY AND P.N.RAVINDRAN,JJ. ------------------------------------- R.P. No.754 of 2008 in W.A. No. 1403 of 2008 ------------------------------------- Order Dated:2nd July, 2008