IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
FRIDAY, THE 29TH DAY OF APRIL 2022 / 9TH VAISAKHA, 1944
WP(C) NO. 14952 OF 2022
PETITIONERS:
1 SHEEBA THOMAS
AGED 51 YEARS
W/O.SUJITH CHERIYAN JOHN, ANANDASHRAMAM,
EDAPPALLY, KANAYANNOOR TALUK,
ERNAKULAM DISTRICT, PIN 682024
2 SUJITH CHERIYAN JOHN, AGED 51 YEARS
S/O.GEORGE CHERIYANANANDASHRAMAM,
EDAPPALLY, KANAYANNOOR TALUK,
ERNAKULAM DISTRICT, PIN 682024
BY ADVS.
AJITH MURALI
MOHANAN M.K.
RESPONDENTS:
1 AUTHORISED OFFICER
SUNDARAM HOME FINANCE LIMITED,
SUNDARAM TOWER,-46, WHITES ROAD,
CHENNAI, STATE OF TAMIL NADU, PIN 600014
2 THE BRANCH MANAGER, SUNDARAM HOME FINANCE LIMITED,
MARINE DRIVE BRANCH, ALEXANDER MEMORIAL BUILDING,
MARINE DRIVE, OPPOSITE RAINBOW BRIDGE,
KOCHI, PIN 682031
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 29.04.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C)No.14952 of 2022
2
MOHAMMED NIAS. C.P.,J
------------------------
WP(C) No. 14952 of 2022
------------------------
Dated this the 29th day of April, 2022
JUDGMENT
The petitioners have availed a housing loan for Rs.23,50,000/- from the second respondent bank on 19.02.2017 by creating equitable mortgage by depositing the title deed of their residential building for renovation of residential building and clearing prior debt. Due to the difficulties caused, repayments were not made in time and the same led to proceedings for recovery against the petitioner.
2. The limited prayer of the petitioners in this writ petition is to grant instalment facility to pay the overdue amounts and to regularise the loan account.
3. The learned Standing Counsel for the respondent Bank, on instructions, submits that the outstanding overdue as on today is Rs.4,88,536/-
4. Taking into account the averments in the writ WP(C)No.14952 of 2022 3 petition and after hearing the learned counsel on either side, I deem it appropriate to grant 10 equal monthly instalment facility to the petitioners to wipe off the overdue amounts due to the respondent bank.
5. In the said circumstances this writ petitions is disposed of permitting the petitioner to clear off the overdue amounts due to the respondent bank in 10 equal monthly instalments starting from 25.05.2022. The petitioners will also be liable to pay the applicable EMI with the accrued interest, if any, continuously over and above the instalments to pay off the overdue amounts.
6. It is made clear that if there are two defaults committed in paying the instalments at any time, the petitioners will lose the benefit of this order and the respondent bank will be at liberty to proceed against the petitioner on the basis of the recovery proceedings already initiated.
The writ petition is disposed of.
Sd/-
MOHAMMED NIAS. C.P.,JUDGE dlK 29.4.2022 WP(C)No.14952 of 2022 4 APPENDIX OF WP(C) 14952/2022 PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE MONTHLY LOAN STATEMENT ISSUED BY THE 2ND RESPONDENT TO THE PETITIONERS Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE DATED 21.04.2022 ISSUED BY THE IST RESPONDENT.