Kerala High Court
Nibu Thomas vs Hdfc Bank Ltd Rep. By Its Authorized ... on 25 April, 2024
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
THURSDAY, THE 25TH DAY OF APRIL 2024 / 5TH VAISAKHA, 1946
WP(C) NO. 16334 OF 2024
PETITIONER/S:
NIBU THOMAS
AGED 52 YEARS
S/O. THOMAS GEORGE, KOCHUPURACKAL, KALLUNGAL P.O.,
THIRUVALLA CURRENTLY WORKING IN UAE AND IS REPRESENTED
BY MRS. SUJADEVI AGED 49 YEARS, W/O. NIBU THOMAS
KOCHUPURACKAL, KALLUNGAL P.O., THIRVALLA,
PATHANAMTHITTA, PIN - 689102
BY ADV E.V.MOLY
RESPONDENT/S:
HDFC BANK LTD REP. BY ITS AUTHORIZED OFFICER
HDFC HOUSE. VAZHUTHACAUD POST BOX NO.2288, TAGORE
THEATRE ROAD, THIRUVANANTHAPURAM., PIN - 695010
OTHER PRESENT:
SMT. S. AMBILY - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 16334 OF 2024
2
JUDGMENT
Dated this the 25th day of April, 2024 The petitioner is challenging the recovery proceedings initiated against him under the Secularization and Reconstruction of Financial Assests and Enforcement of Security Interest Act, 2002. The petitioner has availed a credit facility from the respondent Bank and consequent to the default committed by the petitioner in repaying the amount, the said account is declared as NPA. Accordingly, recovery proceedings have been initiated which is impugned in this writ petition.
2. Heard Smt. Moly E.V, learned counsel for the petitioner, Smt. S.Ambily, the learned counsel for the respondent bank.
3. The learned counsel appearing for the Bank submits that as on date, an amount of Rs.3,60,208/- is overdue in the loan. It is submitted by the learned counsel for the Bank upon instructions that, they are amenable for granting an opportunity to the petitioner to regularise the loan account by paying the entire instalment overdue along with interest in reasonable WP(C) NO. 16334 OF 2024 3 monthly instalments.
In such circumstances, this writ petition is disposed of granting an opportunity to the petitioner to regularise the loan account by paying the instalment overdue as mentioned above along with interest due thereon in 4 equal monthly instalments commencing from 01.06.2024 onwards. The subsequent instalments shall be paid by the petitioner on 1st day of every succeeding months. Along with the aforesaid payment, regular monthly instalments shall also be paid. In case of default on the part of the petitioner in payment of any of the instalments including regular monthly instalments, the aforesaid facility shall stand cancelled, upon which the Bank will be at liberty to proceed with the recovery proceedings. Subject to the above direction, the recovery proceedings against the petitioner is directed to be kept in abeyance.
Sd/-
ZIYAD RAHMAN A.A. JUDGE SM WP(C) NO. 16334 OF 2024 4 APPENDIX OF WP(C) 16334/2024 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 5.2.2024 ISSUED BY THE RESPONDENT BANK Exhibit P2 THE TRUE COPY OF THE OBJECTION DATED 27.3.2024 SUBMITTED TO THE RESPONDENT BANK RESPONDENTS' EXHIBITS:NIL TRUE COPY P.A.TO JUDGE