Mohammed Izathin v. The Authorized Officer

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 23.12.2022

CORAM:

THE HONOURABLE MR.JUSTICE D.KRISHNAKUMAR and THE HONOURABLE MR.JUSTICE R.VIJAYAKUMAR and W.M.P.(MD)Nos.23063 & 23064 of 2022 Mohammed Izathin ... Petitioner Vs.

The Authorised Officer, Tamilnadu Mercantile Bank Ltd., Regional Office, Madurai (For Chinnalapatti Branch).

.... Respondent PRAYER : Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorarified Mandamus, to call for the records pertaining to the impugned sale notice issued by the respondent dated 03.12.2022 and to quash the same as illegal and unconstitutional and consequently forbearing the respondent from in any way taking any further action of any sale of the secured assets.

For Petitioner :

Mr.B.Jameel Arasu For Respondent :

Mr.N.Dilip Kumar, Standing Counsel.

O R D E R

[Order of the Court was made by D.KRISHNAKUMAR, J.] Challenging the impugned sale notice dated 03.12.2022 issued by the respondent, the petitioner has filed this Writ Petition.

2. Heard Mr.B.Jameel Arasu, learned counsel for the petitioner and Mr.N.Dilipkumar, learned Standing counsel, who takes notice for the respondent.

3. By consent of both sides, this Writ Petition is taken up for final disposal.

4. The learned counsel appearing for the petitioner, on instructions, submitted that the petitioner has submitted a proposal for settling the entire outstanding amount to the respondent bank. He further submitted that the petitioner undertakes to pay a sum of Rs.5 lakhs, on or before 10.01.2023 and pay the remaining balance amount at an earliest.

5. The learned Standing Counsel appearing for the respondent bank, on instructions, submitted that the respondent bank is interested to recover the amount from the petitioner and if the petitioner shows the bono fides for repayment of the amount, the bank will agree for the aforesaid proposal. He further submitted that if any delay on the part of the petitioner to repay the amount, the respondent may be directed to take appropriate action against the petitioner for recovering the amount.

6. Considering the submissions made by both sides, we are inclined to pass the following order:

The petitioner is directed to pay a sum of Rs.5,00,000/-

(Rupees Five Lakhs only) on or before 10.01.2023 and after deducting the said payment, to pay the entire remaining outstanding amount in four consecutive monthly installments. The first installment shall be paid on or before 10.02.2023 and the subsequent three installments shall be paid on or before the 10th day of every English Calender Month. Till such time, the respondent - Bank shall not take any coercive action against the petitioner. If the petitioner fails to make payment in any one of the above installments, the respondent - Bank is at liberty to proceed further in accordance with law.

7. With the above direction, this Writ Petition is disposed of. No costs. Consequently, connected miscellaneous petitions are closed. [D.K.K., J.] [R.V., J.] 23.12.2022 Index : Yes / No Internet : Yes / No vsm

To The Authorised Officer, Tamilnadu Mercantile Bank Ltd., Regional Office, Madurai (For Chinnalapatti Branch).

D.KRISHNAKUMAR , J.

and R.VIJAYAKUMAR, J.

vsm 23.12.2022