MUJEEB RAHMAN MUHAMMED ALI Vs. JOINT REGISTRAR

JUDGEMENT

(1.) The writ petitioner is the auction purchaser of the property belonging to the fourth respondent, who was a defaulter to the second respondent, Co-operative Agricultural and Rural Development Bank. Even after the auction, though opportunities were given to the fourth respondent, he did not clear the debts due to the second respondent. Therefore, as per the order dated 21.8.2006, the first respondent, the Joint Registrar, had confirmed the sale in favour of the auction purchaser. However, the documents are not so far handed over to and the sale certificate is not entrusted with, the writ petitioner.

(2.) In the meanwhile, the fourth respondent approached the second respondent, bank, with an One Time Settlement application, requesting to extend the facilities and benefits, contained in the One Time Settlement. Accordingly, the Secretary of the second respondent granted an One Time Settlement and fixed the amount due from the fourth respondent for the four different loans, as on 02.12.2006 totalling to Rs.8,02,425/-, as per Ext.R4(b). It was further directed by the second respondent, in Ext.R4(b) that in case of any failure on the part of the fourth respondent to pay the amount of Rs.8,02,425/- before 15.12.2006, the sale certificate shall be handed over to the writ petitioner. As no auction took place thereafter, the writ petitioner is before this Court with this petition, praying that the property may be registered in the name of the petitioner and the directions to this effect may be issued to the respondents 2 and 3.

(3.) I heard the detailed arguments advanced by the learned counsel for the fourth respondent, the learned counsel for the second respondent as well as the learned counsel for the petitioner. During the hearing, I had directed the counsel for the fourth respondent to verify from the fourth respondent whether he would be able to pay back the money to the writ petitioner. Accordingly, upon instructions, the counsel submits that the entire amount, as envisaged under Ext.R4(b) dated 2.12.2006, shall be paid to the writ petitioner, within three months from today, either in lumpsum or in monthly instalments, together with the interest, at the rate of 10% per annum, for the whole amount of Rs.8,02,425/-, from 15.12.2006 till the date of payment.