JUDGMENT :

The petitioners have approached this Court challenging the proceedings initiated by the Recovery Officer attached to the Debts Recovery Tribunal-II, Ernakulam bringing certain properties which are now in the ownership of the petitioners (by virtue of Exts.P1 to P4 sale deeds) to sale, for recovery of amounts due from respondents 3 to 10. It is the case of the petitioners that the steps taken to bring the properties to sale without considering the request made by the petitioners for one-time settlement are bad in law.

2. The facts which are to be noted for the adjudication of this case may be briefly noticed. The petitioners purchased 29.35 acres of land from M/s. Eden Cardamom Estate, a partnership firm of which respondents 3 to 10 were partners. On 28.06.2011, the date on which Exts.P1 to P4 sale deeds were executed, the petitioners also entered into an agreement undertaking to repay the liability of Rs.2,14,86,060/-due from M/s. Eden Cardamom Estate and its partners, to the UCO Bank along with future interest and costs etc. It is not in dispute before this Court that though the petitioners made some payments to clear the liabilities to the UCO Bank, they did not pay the