Authority: High Court of Bombay at Goa
Order Date: 21 October 2026
Case Overview
- Petitioner: Saraswat Cooperative Bank Limited, a multi‑state cooperative bank, represented by Manager Siddesh Surendra Pokle.
- Respondents: Legal heirs of the deceased debtor, Mr. Damodar Narshiv Narvekar (Deepti Damodar Narshiv Narvekar and Milind Narshiv Narvekar).
- The debtor obtained a vehicle loan of Rs 5,50,000 from the bank and defaulted on repayments.
- Arbitration awarded the bank Rs 3,68,990 plus interest at 12% per annum (Award dated 13 December 2014).
- Execution proceedings (Execution Application No. 391/2016) were initiated; a half undivided share of the debtor’s flat (House No. 885/8(2), Kamat Nagar, Porvorim) was attached and a public auction proclamation issued under CPC §§64‑66.
- The Adhoc District Judge‑2 closed the execution on 8 January 2026 due to lack of a prospective buyer, without satisfying the decree.
- The bank filed Writ Petition No. 384/2026 challenging the closure, arguing the decree remained unsatisfied and other assets could be attached.
Final Outcome
- The High Court set aside the impugned order of 8 January 2026, restoring the execution file.
- The court granted the bank a further period of one year from 21 October 2026 to complete execution of the decree, authorising it to attach any other assets of the deceased’s estate.
- If the bank fails to secure execution within this period, the proceedings will be closed permanently without further reference to the Court.
- The writ petition is disposed of; any pending applications stand disposed of.
Topics: Legal Execution; Banking Dispute; Court Order