IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
WEDNESDAY, THE 06TH DAY OF JANUARY 2021 / 16TH POUSHA, 1942
WP(C).No.17666 OF 2020(G)
PETITIONER:
SALABHA RAVINDRAN
AGED 48 YEARS
W/O. K.N. RAVINDRAN, KANNENKADAN HOUSE, MARATHAKARA P.O.
THRISSUR DISTRICT 680 306.
BY ADV. SRI.MAHESH V.MENON
RESPONDENTS:
1 THE BRANCH MANAGER
DEWAN HOUSING FINANCE CORPORATION LTD, AMBIKA ARCADE 1ST
FLOOR, MG ROAD, THRISSUR 680 001.
2 AUTHORISED OFFICER,
DEWAN HOUSING FINANCE CORPORATION LTD, 1ST FLOOR K.M.M
BUILDING DOOR NO. 32/2383, B AND DI,
PALARIVATTOM, KOCHI 682 025.
BY ADV. SRI.P.PAULOCHAN ANTONY-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06.01.2021,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.17666 OF 2020(G)
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JUDGMENT
The petitioner has approached this Court impugning Ext.P1 notice issued by the respondent - Financial Institution, under the provisions of Section 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act ('the SARFAESI Act' for brevity).
2. I notice from the records that when this matter was considered by this Court on 03.12.2020, an interim order had been issued, directing the petitioner to remit an amount of Rs.10 lakhs on or before 04.01.2021 "to prove her bona fides in the matter".
3. However, when this case was called today, Sri.Sunil Kumar, learned Standing Counsel for the respondent - Financial Institution, submitted that the petitioner has not remitted the afore amount but added fairly that if she can remit at least Rs.7 lakhs by the end of this month, she can be allowed to pay off the overdues, which is, as on 02.12.2020, Rs.27,34,281/- in not more than 10 equal monthly installments, so as to have the account WP(C).No.17666 OF 2020(G) 3 regularised.
4. When I hear Sri.Sunil Kumar as afore, it is obvious that since the petitioner has not complied with the interim order of this Court, she cannot be normally granted any further latitude.
5. However, since the respondent - Financial Institution has been more than fair to her in allowing a further indulgence, I deem it appropriate to order this writ petition, granting her the benefits as now acceded to by them.
6. In the afore circumstances, I order this writ petition and direct the petitioner to pay an amount of Rs.7 lakhs on or before 31.01.2021; in which event, the balance overdues, which is stated to be Rs.27,34,281/- as on 02.12.2020, along with all applicable charges and interest, will be allowed to be paid by her in 10 equal monthly installments, commencing from 02.03.2021.
It is needless to say that as long as the petitioner continues to make payment in terms of the afore directions, all further action pursuant to Ext.P1 shall stand deferred; but in the event, she defaults even one of the installments as afore, the Financial Institution will be at liberty to pursue with their steps under the WP(C).No.17666 OF 2020(G) 4 SARFAESI Act without having to secure any further orders from this Court.
This writ petition is thus ordered.
SD/-
DEVAN RAMACHANDRAN
rp JUDGE
WP(C).No.17666 OF 2020(G)
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APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 TRUE COPY OF 13 (4) NOTICE ISSUED BY THE 2ND
RESPONDENT UNDER SARFAESI ACT DTD. 22.06.2020.