Rajarathinam v. The Authorized Officer

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 27.04.2023

CORAM:

THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN AND THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI and W.M.P (MD) Nos.9327 and 9329 of 2023 Rajarathinam ... Petitioner -vsThe Authorised Officer, Union Bank of India, Karaiyur Branch, 60-A, Manaparai Road, Karaiyur, Pudukottai District.

... Respondent PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari, calling for the records pertaining to the impugned possession notice dated 09.06.2022 and E auction sale notice dated 29.09.2022 issued by the respondent bank and quash the same.

For Petitioner :

Mr.K.G.Arunkumar For Respondent :

Mr.N.Dilip Kumar

O R D E R

[Order of the Court was made by R.SUBRAMANIAN, J.] In view of the fact that the Debts Recovery Tribunal, Madurai, is not manned, we are entertaining this writ petition.

2. Mr.N.Dilip Kumar, learned counsel, takes notice for the respondent - Bank.

3. With the consent of both sides, this writ petition is taken up for final hearing at the admission stage itself.

4. The possession notice, dated 09.06.2023, issued by the respondent - Bank, is under challenge in this writ petition.

5. Learned counsel appearing for the petitioner would submit that he would able to liquidate the entire debt, if sometime is granted.

6. Considering the nature of the borrowing and the fact that the secured asset is a dwelling house, the writ petition is disposed of with the following directions:

(i) We stay all further proceedings pursuant to the possession notice dated 09.06.2022, if the petitioner pays a sum of Rs.31,541/- (Rupees Thirty One Thousand Five Hundred and Forty One only) to the respondent - Bank, on or before 15.05.2023.

(ii) The remaining amount of Rs.6,00,000/- (Rupees Six Lakhs only) shall be paid by the petitioner in twelve equated monthly installments of Rs.50,000/- (Rupees Fifty Thousand only) commencing from 15th June, 2023. The monthly installments shall be paid on or before 30th of every succeeding month.

(iii) The interest that accrues in the interregnum and the cost of the sale shall be paid along with the last installment.

(iv) If there is a default in payment as directed above, the respondent - Bank can proceed further to take possession of the secured asset as well as for recovery of the amount due.

No costs. Consequently, connected miscellaneous petition is closed. [R.S.M., J.] [L.V.G., J.] 27.04.2023 NCC : No Index : No Internet : Yes PKN

R.SUBRAMANIAN , J.

AND L.VICTORIA GOWRI , J.

PKN 27.04.2023