Geethakumari R vs Authorized Officer

Kerala High Court

Geethakumari R vs Authorized Officer on 14 May, 2024

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
              THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
     TUESDAY, THE 14TH DAY OF MAY 2024 / 24TH VAISAKHA, 1946
                      WP(C) NO. 16949 OF 2024
PETITIONER:

           GEETHAKUMARI R.,
           AGED 50 YEARS
           W/O AJIKUMAR, THIRUVATHIRA HOUSE,
           KANCHIYODE,MANCHA,NEDUMANGADU, THIRUVANANTHAPURAM
           DISTRICT, PIN - 695561
           BY ADVS.
           V.V.JOY
           AGNA PREM
           HEMANTH H.


RESPONDENT:

             AUTHORIZED OFFICER,
             LIC HOUSING FINANCE LTD, GROUND FLOOR, JEEVAN
             PRAKASH, LIC BUILDING, PATTOM, THIRUVANANTHAPURAM
             DISTRICT, PIN - 695004


             BY ADV R.S.KALKURA


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   14.05.2024,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 W.P.(C). No.16949 of 2024             :2:



                           VIJU ABRAHAM, J.
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                       W.P.(C) No.16949 of 2024
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                   Dated this the 14th day of May, 2024

                                   JUDGMENT

The petitioner has availed a housing loan from the respondent bank and same was defaulted and proceedings have been initiated by the bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act, as is evident from Ext.P1. The petitioner has approached this Court seeking a direction to permit her to pay the overdue amount in 20 equal monthly instalments and for a direction to the bank to regularise the loan account.

2. Heard the learned counsel for the petitioner and the learned counsel for the respondent bank.

3. A counter affidavit has been filed by the respondent bank, wherein it is stated that the overdue amount as on 06.05.2024 is Rs.1,48,181/- and if the petitioner pays the said amount in equal monthly instalments along with the regular EMIs, the loan account could be regularised.

4. Considering the facts and circumstances of the case and submissions made across the bar, I dispose of the writ petition W.P.(C). No.16949 of 2024 :3: directing to regularise the loan account on the following conditions:

i) The petitioner shall pay the overdue amount of Rs.1,48,181/- (Rupees one lakh forty eight thousand one hundred and eighty one only) along with the accrued interest and other charges in 10 equated monthly instalments, commencing from 01.06.2024 and shall continue to pay the regular instalments as per the original loan schedule.

ii) In the event of any single default in payment as directed above, the respondent bank shall be free to continue the recovery proceedings from the stage at which they presently stand.

iii) It is made clear that if the petitioner complies with the aforesaid directions, further proceedings for recovery shall be kept in abeyance. With the above said directions, this writ petition is disposed of.

Sd/-

VIJU ABRAHAM JUDGE sm/ W.P.(C). No.16949 of 2024 :4: APPENDIX OF WP(C) 16949/2024 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE ABOVE NOTICE DATED 20.04.2024 ISSUED BY THE RESPONDENT U/S 13(12) OF SARFAESI ACT