V J JOSEPH vs THE RECOVERY OFFICER OFFICE OF THE RECOVERY OFFICER DEBT RECOVERY TRIBUNAL-1

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2026 Supreme(Online)(Ker) 13033

IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
V J JOSEPH – Appellant
Versus
THE RECOVERY OFFICER OFFICE OF THE RECOVERY OFFICER DEBT RECOVERY TRIBUNAL-1 – Respondent

Advocates:
For the Appellants/Petitioners: SHRI.E.D.GEORGE, SHRI.BRISONE T. MATHEW, SHRI.BENET SELVAN S., SHRI.AMITH LEO JAMES
For the Respondents: SRI. C. AJITHKUMAR, SC

Table of Content
1. loan default leading to recovery actions and buyer interest. (Para 1 , 2 , 3 , 4)
2. proposal for settlement and court's examination of competing motions. (Para 6 , 7)
3. infructuous nature of the petition due to lack of bidders. (Para 8 , 9)

JUDGMENT

(Dated this the 20^th day of February, 2026)

The petitioner is the Managing Director of J & A Foundation Pvt. Ltd., a company engaged in piling works across Kerala. According to the petitioner, a loan was availed from the respondent Bank in connection with the business activities of the company. Upon default in repayment, the 2^nd respondent initiated proceedings by filing O.A. No.131/2014 before the Debts Recovery Tribunal, Ernakulam, and obtained a Recovery Certificate.

2. Subsequently, a proclamation of sale was issued as Ext. P1 for the sale of four lots of properties as Schedules A to H.

3. The learned counsel for the petitioner submits that a third party was willing to purchase the petitioner’s property and that an agreement has already been executed between the petitioner and the said third party, which is produced as Ext. P2. The consideration shown therein is ₹32,00,000/-

(Rupees Thirty-Two Lakhs only).

4. It is furt

Click Here to Read the rest of this document