LAWS(KAR)-2012-6-323

JONNA RALF DSA W/O. RALF DS Vs. MAHALAKSHMI CO-OPERATIVE BANK LTD. SHIVAKRUPA BUILDING, MARUTHI VEETHIKA UDUPI 576101 REPTD BY ITS GENERAL MANAGER, THE SALE CUM RECOVERY OFFICER MAHALAKSRIMI CO OPERATIVE BANK LTD SHIVAKRUPA BUILDING, MARUTHI VEE

Decided On June 04, 2012
Jonna Ralf Dsa W/O. Ralf Ds Appellant
V/S
Mahalakshmi Co -Operative Bank Ltd. Shivakrupa Building, Maruthi Veethika Udupi 576101 Reptd By Its General Manager, The Sale Cum Recovery Officer Mahalaksrimi Co Operative Bank Ltd Shivakrupa Building, Maruthi Vee Respondents

JUDGEMENT

(1.) IN this writ petition, petitioner is challenging the sale proclamation proceedings initiated in Execution No. 153A/2003 -04 by the 1st respondent before the 3rd respondent - Assistant Registrar of Co -operative Societies, Kundapur, by fixing the date of public auction on 25.0:3.2011. The facts as emerged from the pleadings are that the petitioner is the purchaser of the property bearing Door No. 1 -197/A situated at Airody Village, Udupi Taluk consisting of a residential house from the 4th respondent - Thomas Rodrigues vide registered Sale Deed dated 14.05.2003 by paying valuable consideration in a sum of Rs. 6,90,000/ -. It is the case of the petitioner that he purchased property without the knowledge of the loan transaction that the 4th respondent had with the 1st respondent - Bank. It is the further case of the petitioner that the petitioner after examining the encumbrance over the property in question which disclosed that there was no encumbrance as on the date he purchased the property, petitioner ventured to purchase the same by paying nearly F:s.7,00,000/ -.

(2.) IT is the further contention of the petitioner that there is a residential house which is in occupation of the petitioner and his family members. The further case of the petitioner is that only after purchase, he came to know of the loan transaction entered into by the previous owner with the 1st respondent - bank and the award passed by the Assistant Registrar of Co -operative Societies on 01.08.2002 ordering paying of Rs. 36,848/ - along with interest at 20% p.a. against respondent No. 4. It is contended that the petitioner came to know of the same when the property was brought for sale by way of public auction as per the impugned notice - Annexure -J in the execution proceedings initiated by the 1st respondent - Bank before the Assistant Registrar of Co -operative Societies.

(3.) I have heard the learned counsel for the parties and perused the entire materials on record. During the course of arguments, learned counsel for the petitioner Sri S.K.Acharya submits that the petitioner is a bonafide purchaser for valuable consideration and that he is prepared to pay the 1st respondent the award amount along with interest provided the property is not proceeded against and the entire proceedings pending before the 3rd respondent are quashed.