9911796707
TMI Blog2018 (7) TMI 1368X X X X Extracts X X X X X X X X Extracts X X X X ..... elief. Therefore, treating that matter as settled under the AMNESTY Scheme, the amount due under the AMNESTY Scheme i.e., ₹ 37,11,210/- shall be released by the Bank in favour of Deputy Tahsildar (RR) within three days from today. The Company's request can be safeguarded in I.A.No.1068/2018 by allowing them to set aside the sale provided that the Company pays Rs.Four Crores and One Thousand along with 10% interest from the date of deposit by the auction purchaser till the Company clears the amount of the auction purchaser. However, it is made clear that it has to be done within three months from today. If the Company pays the amount within time, the sale would stand set aside. Petition disposed off. - W.P. (C).No. 17019 of 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d there is an apparent dispute between the State and the Bank in regard to appropriation of the amount, this Court by an order dated 11.8.2015 appointed an Advocate Commissioner to assess the value of the property with the assistance of an approved valuer. That valuation report was placed before this Court. Thereafter by an order dated 10.11.2017, this Court by an agreement of the parties, appointed the same Advocate Commissioner to sell the property. Thereafter the sale was ordered to be conducted as a revenue sale since an attachment was already prevailing as early as in 2008 effected by the revenue authority. Accordingly publication was taken out in Malayala Manorama daily and The Hindu daily news papers having circulation in all over th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er is by the Bank based on mortgage. The State would be satisfied, if the entire amount is settled under the AMNESTY Scheme, though the application was not filed in time. The State's right in terms of Section 26B of the Kerala General Sales Tax Act cannot be overlooked, but, at the same time, the Bank can also invoke mortgagee's right. The Bank's claim is referable to Section 31(b) of the Recovery of Debts due to Banks and Financial Institutions Act, 1993. The conflict of claims backed by statutory provisions led to a dilemma in what manner this amount has to be appropriated. This Court is of the view that the present dilemma can be resolved, if the State is allowed to appropriate the amount towards the sales tax arrears by allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thin the time granted by this Court, the sale shall be confirmed in favour of the 40th petitioner by the Tahsildar, Revenue Recovery, Thiruvalla. The Tahsildar shall also issue the sale certificate. The Tahsildar shall also free to demand the actual expenses incurred. The Revenue Authority is entitled to recover the actual expenses incurred for initiating revenue recovery proceedings. In order to avoid the dispute, the amount is calculated as ₹ 1,500/-, that shall also be given by the Bank in favour of Tahsildar, Thiruvalla. The Bank shall also ensure that the amount towards expenses shall be released to the petitioners without any delay. The sale certificate shall be issued under the Revenue Recovery Act on expiry of three months fro ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
