Without going into the merits of the matter, it is to be noticed that the relief sought for by the petitioners is only for resumption of the property, which was proceeded against for recovery of a debt. The Bank purchased the property in the auction sale conducted on 26.02.2014. The petitioners undertake that they would pay the entire amounts due in the loan account, with interest till the date of payment as also expenses and charges incurred by the Bank in proceeding with the recovery. 2. The learned Counsel for the Bank was directed to get instructions, as to whether resumption would be possible. The learned Counsel on instructions submits that if such entire amounts as indicated above are paid within a period of one month, then the Bank is willing to resume the W.P.(C) No.5661 of 2014 - G 2 property and withdraw from the sale proceedings. The petitioners however pray that the petitioners may be granted a months further time.
3. In such circumstance, this Court is of the opinion that the petitioners can be granted time time till 28.02.2015 to pay off the entire amounts. The respondent Bank shall issue a statement of accounts with interest due as on 05.01.2015. The respondent Bank shall also indicate the expenses incurred in proceeding with the revenue recovery proceedings.
4. The confirmation of sale was stayed by this Court and hence there is no conveyance effected. If the petitioner satisfies the entire amounts within the time stipulated, as also any demand for future interest from 05.01.2015, the sale officer shall cancel the sale proceedings and the property shall be resumed to the petitioners.
5. It is made clear that no further extension shall be granted on the condition imposed and if the petitioners does not make the payments as stipulated above, the petitioners W.P.(C) No.5661 of 2014 - G 3 cannot seek for any further indulgence from the Bank or from this Court.
The writ petition is disposed of.
Sd/-
K. VINOD CHANDRAN, JUDGE SB // true copy // P.A To Judge.