Arch Antony vs The Branch Manager

Kerala High Court

Arch Antony vs The Branch Manager on 3 May, 2024

Author: Kauser Edappagath

Bench: Kauser Edappagath

          IN THE HIGH COURT OF KERALA AT ERNAKULAM
                          PRESENT
        THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
    FRIDAY, THE 3RD DAY OF MAY 2024 / 13TH VAISAKHA, 1946
                  WP(C) NO. 16895 OF 2024
PETITIONERS:

    1    ARCH ANTONY
         AGED 46 YEARS
         S/O ANTONY ABRAHAM ARCH VIEW, KALANJOOR P.O,
         ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694

    2    DEEPAKUTTY ARCH
         AGED 40 YEARS
         W/O ARCH ANTONY ARCH VIEW, KALANJOOR P.O,
         ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694

    3    ALEYAMMA ANTONY
         AGED 74 YEARS
         W/O ANTONY ABRAHAM ARCH VIEW, KALANJOOR P.O,
         ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694

    4    ARTHUR ARCH ANTONY
         AGED 22 YEARS
         S/O ARCH ANTONY ARCH VIEW, KALANJOOR P.O,
         ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694

         BY ADV RAMAKRISHNAN M.



RESPONDENTS:

    1    THE BRANCH MANAGER
         HDFC BANK LTD, PATHANAMTHITTA BRANCH, ABAN ARCADE,
         KUMBAZHA ROAD, PATHANAMTHITTA DISTRICT, PIN -
         689645
 W.P.(C).No.16895/2024

                                -:2:-

    2       THE AUTHORISED OFFICER
            HOUSING DEVELOPMENT FINANCE BANK LTD., HDFC HOUSE,
            P.B NO. 2288, VAZHUHTHAKAUD, THIRUVANANTHAPURAM,
            PIN - 695010

            BY ADVS.Ambily S
            RUPA R. NAIR(K/001021/2023)
            MATHEW JOSEPH BALUMMEL(K/001219/2019)
            K.K.CHANDRAN PILLAI (SR.)(C-41)

            SMT.S. AMBILY-SC




     THIS    WRIT   PETITION     (CIVIL)   HAVING    COME    UP    FOR
ADMISSION    ON   03.05.2024,    THE    COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C).No.16895/2024

                               -:3:-

                          JUDGMENT

The petitioners are challenging the recovery proceedings initiated against them under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

2. The petitioners have availed a credit facility from the respondent Bank and consequent to the default committed by the petitioners in repaying the amount, the said accounts were declared as NPA. Accordingly, recovery proceedings have been initiated which is impugned in this writ petition.

3. Heard Sri.Ramakrishnan M, the learned counsel for the petitioner and Smt. S. Ambili, the learned Standing Counsel for the respondents.

4. The learned Standing Counsel appearing for the Bank submits that as on date, an amount of Rs.43,12,383/- 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 petitioners to regularise the loan account by paying the entire instalment overdue along with interest in W.P.(C).No.16895/2024 -:4:- reasonable monthly instalments.

In such circumstances, this writ petition is disposed of granting an opportunity to the petitioners to regularise the loan accounts by paying the instalment overdue as mentioned above along with interest due thereon in 3 equal monthly instalments commencing from 1.6.2024 onwards. The subsequent instalments shall be paid by the petitioner on the 5 th day of every succeeding months. Along with the aforesaid payment, regular monthly instalment shall also be paid. In case of default on the part of the petitioners 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 petitioners is directed to be kept in abeyance.

Sd/-

DR. KAUSER EDAPPAGATH JUDGE kp W.P.(C).No.16895/2024 -:5:- APPENDIX OF WP(C) 16895/2024 PETITIONER EXHIBITS Exhibit-P1 THE COPY OF THE NOTICE DATED 09-05-2023 Exhibit-P2 THE COPY OF THE NOTICE DATED 15-03-2024