Mahindra Rural Housing Finace Ltd vs Reji.P.Ravi

Kerala High Court

Mahindra Rural Housing Finace Ltd vs Reji.P.Ravi on 20 May, 2024

Author: N.Nagaresh

Bench: N.Nagaresh

        IN THE HIGH COURT OF KERALA AT ERNAKULAM
                        PRESENT
          THE HONOURABLE MR.JUSTICE N.NAGARESH
 MONDAY, THE 20TH DAY OF MAY 2024 / 30TH VAISAKHA, 1946
                   RP NO. 400 OF 2024
AGAINST THE ORDER DATED 18.03.2024 IN WP(C) NO.10874 OF
              2024 OF HIGH COURT OF KERALA
REVIEW PETITIONER/RESPONDENT 1 AND 2 IN WPC

    1    MAHINDRA RURAL HOUSING FINACE LTD
         AGED 44 YEARS
         3RD FLOOR,AMBADY TOWERS POOKATTUPADY ROAD ,
         EDAPPALLY TOLL,ERNAKULAM
         REPRESTENDED BY ITS AUTHORISED OFFICER,
         PIN - 682024
    2    THE AUTHORISED OFFICER
         AGED 44 YEARS
         MAHINDRA RURAL HOUSING FINANCE LTD
         3RD FLOOR AMBADY TOWERS ,POOKKATTUPADY ROAD ,
         EDAPPALLY TOLL ERNAKULAM, PIN - 682024

         BY ADVS.
         M.A.JOSEPH MANAVALAN
         JOSEPH C.J.
         JAMES JOSE


RESPONDENT/PETITIONER IN WPC:

         REJI.P.RAVI
         W/O SAJU B RESIDING AT PERAYATHUKONNAM ,
         VADAKKINKARA VEEDU ,MEKKOLA DHANUVACHAPURAM P.O
         KOLLAYIL MANCHAVILAKOM,
         THIRUVANTHA PURAM DISTRICT, PIN - 695503

         SRI.J.R.PERM NAVAZ

     THIS REVIEW PETITION HAVING COME UP FOR ADMISSION
ON 20.05.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
 RP No.400/2024
                                       :2:




                           N. NAGARESH, J.

          `````````````````````````````````````````````````````````````
                        R.P. No.400 of 2024
                                 in
                      W.P.(C) No.10874 of 2024

          `````````````````````````````````````````````````````````````
                Dated this the 20th day of May, 2024


                                 ORDER

~~~~~~ Respondents 1 and 2 in W.P.(C) No.10874/2024 have filed this Review Petition alleging errors apparent on the face of the records of the case, in the interim order dated 18.03.2024.

2. The respondent as a co-borrower availed financial assistance from the review petitioners. On the failure of the respondent to make prompt repayment of loan amount, the petitioners initiated proceedings under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. When the RP No.400/2024 :3: Advocate Commissioner appointed by the Chief Judicial Magistrate served notice of taking over possession, the respondent filed the writ petition inter alia seeking to permit the petitioner to discharge the outstanding overdue loan liability in 24 monthly instalments and to regularise the loan account.

3. This Court passed an interim order dated 18.03.2024 in the writ petition staying further proceedings pursuant to Ext.P3 for a period of one month on condition that the petitioner remits an amount of ₹20,000/- on or before 27.03.2024. The review petitioners are aggrieved by the said order. The review petitioners contend that the interim order has been issued without extending an opportunity to the review petitioners to be heard. Out of the total outstanding of ₹2,20,529/-, as on 19.03.2024, there is a current overdue amount of ₹82,524/- from the petitioner. The review petitioners pray that the respondent be directed to make down payment of ₹82,524/- or at least ₹68,000/- on or before 27.03.2024 so that the loan is classified out of NPA within the RP No.400/2024 :4: financial year itself.

4. I have heard the learned counsel for the petitioners and the learned counsel representing the respondent.

5. When this Review Petition came up for admission on 25.03.2024, the counsel for the respondent submitted that the respondent shall pay an additional amount of ₹20,000/- on or before 27.03.2024 bringing the total repayment to ₹40,000/-.

6. I do not find any error apparent on the face of the impugned order dated 18.03.2024. The prayer of the review petitioners is to direct the respondent to pay at least ₹68,000/- down payment on or before 27.03.2024. The respondent has undertaken to pay additional amount of ₹20,000/- on or before 27.03.2024 making the total repayment to ₹40,000/-.

In view of the afore facts and taking into consideration the fact that the writ petition is being disposed of granting limited relief to the petitioner, no review is RP No.400/2024 :5: warranted. The review petition is therefore disposed of in terms of the judgment in W.P.(C) No.10874/2024.

Sd/-

N. NAGARESH, JUDGE aks/15.05.2024