Ravishankar.R v. The Debt Recovery Tribunal

WMP(MD) No.11429 of 2022 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT ( Special Original Jurisdiction ) Thursday, the Twenty Eighth day of July Two Thousand and Twenty Two PRESENT The Hon`ble Mr.Justice S.S.SUNDAR and The Hon`ble Mrs.Justice S.SRIMATHY WMP(MD) No.11429 of 2022 IN WP(MD) No.9980 of 2022 R.RAVISHANKAR ... PETITIONER/PETITIONER Vs 1 THE DEBT RECOVERY TRIBUNAL, 4TH FLOOR, KALYANI TOWER, MELUR ROAD, MADURAI.

2 THE AUTHORIZED OFFICER UNION BANK OF INDIA, ASSET RECOVERY BRANCH, NO.9, ELCANSO COMPLEX, CASA MAJOR ROAD, EGMORE, CHENNAI-600 008.

... RESPONDENTS/RESPONDENTS Petition filed praying that in the circumstances stated therein and in the affidavit filed therewith the High Court may be pleased to grant further 24 weeks extension of time for making payment of the 3rd and 4th installment amounts of Rs.60,00,000 as ordered by this Hon'ble Court dated 19.05.2022 made in W.P.(MD) No. 9980 of 2022.

Prayer in WP(MD).9980/2022 :

To issue a writ or order or direction in the nature of Writ of Certiorari calling for the records perataining to the impuged E-auction sale Notice in proceeding ARB.73/2022-23 dated 30.04.2022 issued by the 2nd respondent and quash the same as illegal. ORDER : This petition coming up for orders on this day, upon perusing the petition and the affidavit filed in support thereof and upon hearing the arguments of M/S.AN.RAMANATHAN, Advocate for the petitioner and of MR.N.DILIPKUMAR, Standing Counsel on behalf of the 2nd Respondent, the court made the following order:- (The order of the Court was made by S.S.SUNDAR, J.) This petition has been filed to extend the time for making the third and fourth instalments of Rs.60,00,000/- as directed by this Court vide order, dated 19.05.2022 in the above Writ Petition. https://www.mhc.tn.gov.in/judis 1/2

WMP(MD) No.11429 of 2022 2.The fact that the petitioner has partly complied with the condition by paying a sum of Rs.45,00,000/- before 30.06.2022 is not in dispute. Further, the petitioner has to pay a further sum of Rs.25,00,000/- or or before 30.07.2022 and a further sum of Rs.30,00,000/- on or before 30.08.2022.

3.Considering the facts and circumstances of the case, this Court is inclined to allow this petition. Accordingly, this petition is allowed by extending the time by three months. Accordingly, the petitioner is directed to pay a sum of Rs.25,00,000/- on or before 28.10.2022 and pay the balance of Rs.30,00,000/- on or before 30.11.2022. In case, the petitioner fails to pay any one of the instalments as extended now by this Court, the respondent Bank is at liberty to proceed to bring the mortgaged property for sale in accordance with law.

sd/- 28/07/2022 / TRUE COPY / /08/2022 Sub-Assistant Registrar (C.S.) Madurai Bench of Madras High Court, Madurai - 625 023.

TO 1 THE DEBT RECOVERY TRIBUNAL, 4TH FLOOR, KALYANI TOWER, MELUR ROAD, MADURAI.

2 THE AUTHORIZED OFFICER UNION BANK OF INDIA, ASSET RECOVERY BRANCH, NO.9, ELCANSO COMPLEX, CASA MAJOR ROAD, EGMORE, CHENNAI-600 008.

+1 CC to M/s.B.PRASANA VINOTH, Advocate ( SR-7864[I] dated 29/07/2022 )

ORDER

IN WMP(MD) No.11429 of 2022 IN WP(MD) No.9980 of 2022 Date :28/07/2022 RS/JM/SAR.2 (02.08.2022) 2P-4C https://www.mhc.tn.gov.in/judis 2/2