PARESH PANKAJBHAI PATEL Vs. BHAVNAGAR SAHAKARI BANK LTD

JUDGEMENT

(1.) HEARD Mr.Hiren M. Modi, learned advocate for the petitioner, Mr.J.T.Trivedi, learned advocate for respondent No.1-Bank, and Mr.Dhaval Barot, learned advocate for respondent No.2.

(2.) THE facts as emerging from the petition are as under: That the petitioner was, inter alia, engaged in the business of medicine in the name and style of Ganesh Medical Stores at Bhavnagar. That the petitioner needed financial assistance for his business and therefore applied for loan with the respondent-Bank. After verifying the application of the petitioner, the respondent-Bank sanctioned loan of Rs.10,00,000/- on 02.06.1998. That for the said loan transaction, the petitioner mortgaged his property situated at Plot No.2148/B/5 in Krishna Park area of Bhavnagar city. That because of doldrums in the business in the year 2002 onwards, the petitioner could not pay the installments towards the aforesaid loan amount. That the respondent-Bank thereafter filed Summary Suit No.129 of 2002 before Board of Nominees, Bhavnagar against the petitioner and others. THE Board of Nominees vide judgment and award dated 16.02.2002 allowed the suit. Accordingly decree was drawn in favour of the respondent-Bank for Rs.11,76,414/- and interest @ 19% from 01.10.2001 till realization and also awarded cost of Rs.3,245/-.

(3.) THAT after the aforesaid order was passed in the review application, the petitioner again vide communication dated 10.05.2005 requested the respondent-Bank not to take over possession of the whole property and further requested the respondent-Bank to allow the petitioner and his family to reside in the remaining two rooms. Again on 01.11.2008 the respondent-Bank gave further notice of attachment of the property in schedule form, to which the petitioner gave reply on 14.11.2008 requesting the respondent-Bank to allow the petitioner to live at that place and assured the respondent-Bank that the petitioner has not removed the seals applied over the two rooms on 19.06.2004.