Jayakrishnan.P.V vs Registrar Of Co Operative Societies Office Of The Registrar Of Co-Operative Society, Trivandrum 695014

Sathish Ninan, J

Repayment of the loan availed by the petitioner’s father from the 4th respondent Bank was defaulted. In the steps initiated by the Bank for recovery of the debt, mortgaged property was sold and was purchased by the Society itself since there were no other bidders. Subsequently, under a One Time Settlement Scheme, the account was closed. The petitioner raised a request for re-conveyance of the property. The request made by the petitioner before the Joint Registrar was rejected as per Ext.P5. The petitioner has thereupon submitted Ext.P6 representation before the Registrar. The petitioner seeks for a direction to the Registrar to pass orders on the same.

Before this Court, the 5th respondent-Bank has filed an affidavit to the effect that in terms of the One Time Settlement Scheme, the property is liable to be re-conveyed. The scheme provides for re-conveyance of the property even after a sale held by the Bank for realisation of the debt. Ofcourse, it is subject to the conditions as specified in Clause (iii) of the scheme. The learned counsel for the petitioner submits that the amount in terms of the scheme have been paid.

If amounts have been paid in terms of the scheme as referred to above, the property in question is liable to be re-conveyed.

In  the  light  of  the  above,  the  2nd respondent shall reconsider the request and pass appropriate orders in this regard. Let the Bank also be put on notice and be heard while orders are passed.

The Writ Petition is disposed of accordingly.