1 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 27.04.2011 CORAM: THE HONOURABLE MS.JUSTICE K.SUGUNA AND THE HONOURABLE MR.JUSTICE A.ARUMUGHASWAMY W.P.(MD).No.4128 of 2011 and M.P.No.1 of 2011 X.John Kennedy, Sole Proprietor M/s,J.K.Products, No.38, North Masi Street, Madurai 625 001. : Petitioner Vs. The Chief Manager, Indian Bank, Tallakulam Branch, No.73, Alagar Kovil Road, Madurai 625 020. : Respondent PRAYER: Writ Petition is filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus directing the respondent herein to grant extension of time of six months to sell the petitioner's property located at Nagercoil at Old S.Nos.1679/2302, 2303, T.S.Nos.Q/15/169, 171 with an extent of 8,116 cents and repay the loan to the respondent bank. For Petitioner : Mr.K.Vamanan For Respondent : Mr.R.Pandivel Standing Counsel ORDER [Order of the Court was made BY K.SUGUNA, J] This Writ Petition is filed for the issue of a Writ of Mandamus directing the respondent bank to grant extension of time of six months to repay the loan. 2. According to the learned counsel appearing for the petitioner, the petitioner had obtained a loan for a sum of Rs.1,07,70,000/- from the respondent bank on 10.09.2008 and he was paying the dues without any default till December 2009. However, because of the unexpected event taken place, the petitioner is not in a position to re-pay the loan amount due to the respondent bank. Consequently, this Writ Petition is filed. 3. According to the learned Standing Counsel appearing for the respondent bank, though an offer has been made by the petitioner as early as December 2010, the same has not been complied with, and therefore, the petitioner is not entitled for the relief sought for. 4. However, at the time of arguments, the learned counsel for the petitioner has submitted that in the event of the petitioner being granted three months time, the petitioner will pay the entire dues. 5. On the other hand, it is the stand of the learned Standing Counsel for the respondent bank that in that event, the petitioner may be directed https://hcservices.ecourts.gov.in/hcservices/ 2 to make a part payment on or before 25.05.2011, the date on which the sale has been fixed. 6. In view of the above submissions made by the learned counsel on either side, this Writ Petition is disposed of in the following terms:- ●The petitioner is permitted to make a payment of Rs.40,00,000/- [Rupees Fourty Lakhs only] on or before 24.05.2011. ●The balance amount shall be paid on or before 27.07.2011. ●It is made clear that in the event of failure on the part of the petitioner to pay the said amount within the time stipulated in this order, the respondent bank is at liberty to proceed as against the petitioner in accordance with law. No costs. Consequently, connected Miscellaneous Petition is closed. Sd/- Assistant Registrar(CO) /TRUE COPY/ Sub Assistant Registrar To The Chief Manager, Indian Bank, Tallakulam Branch, No.73, Alagar Kovil Road, Madurai 625 020. +1cc to Mr.K.Vamanan, Advocate SR.No.15424 ORDER MADE IN W.P.(MD).No.4128 of 2011 27.04.2011 NB PA/29.04.2011/2P/3C https://hcservices.ecourts.gov.in/hcservices/