Muhammed Ashraf J vs Hdb Financial Services Limited
2021 Latest Caselaw 23956 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   MONDAY, THE 13TH DAY OF DECEMBER 2021 / 22ND AGRAHAYANA, 1943
                       WP(C) NO. 28529 OF 2021
PETITIONERS:

    1     MUHAMMED ASHRAF J.,
          AGED 54 YEARS
          S/O. JALALUDEEN, VALIYAYYATH HOUSE, KOTTUKULANGARA,
          PATHIYOOR, KAYAMKULAM, ALAPPUZHA-690502.
    2     NASEEMA BEEVI,
          AGED 50 YEARS
          W/O. MUHAMMED ASHRAF, VALIYAYYATH HOUSE,
          KOTTUKULANGARA, PATHIYOOR, KAYAMKULAM, ALAPPUZHA-
          690502.
          BY ADVS.
          S.SHANAVAS KHAN
          S.INDU


RESPONDENTS:

    1     HDB FINANCIAL SERVICES LIMITED,
          A1 SQUARE, FIRST FLOOR, KAYAMKULAM-PATHANAPURAM ROAD,
          ABOVE VIJAYA BANK, KAYAMKULAM, ALAPPUZHA-690502,
          REPRESENTED BY ITS BRANCH MANAGER.
    2     THE AUTHORIZED OFFICER,
          HDB FINANCIAL SERVICES LIMITED, ZENITH HOUSE, OPPOSITE
          RACE COURCE, MEHALAKSHMI, MUMBAI-400034.
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.12.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 28529 OF 2021
                                    2

                BECHU KURIAN THOMAS, J
              ................................................
               W.P.(C) NO.28529 OF 2021
               ...........................................
         Dated this the 13th day of December, 2021


                            JUDGMENT

Petitioners as borrowers from the respondent bank,

have committed default in repayment. Consequently,

proceedings have been initiated by the bank for recovery of

the amounts due.

2. During the course of hearing, petitioners have

confined the relief to an opportunity for repaying the

overdue amount in instalments and to obtain regularisation

of the loan account.

3. It was submitted on behalf of the respondent bank

that the petitioners committed default in repayment and the

overdue amount is Rs.7,34,222/-. It was further submitted

that though proceedings for recovery have been initiated,

as a matter of indulgence, the respondent bank is willing to WP(C) NO. 28529 OF 2021

accept repayment of the overdue amount in limited

instalments and regularise the loan account.

4. I have heard Sri.S.Shanavas Khan, learned counsel

for the petitioners as well as Sri.Basil Mathew.R, the

learned counsel for the respondents.

5. Having regard to the circumstances of the case and

the situation now prevailing, apart from the submissions

made as recorded above, I am of the view that the

petitioners can be granted an opportunity to repay the

overdue amount in '8' instalments and thereafter, if the

amount so directed is repaid within the time as directed

above, to have the loan account regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.7,34,222/- along with bank charges from the

petitioners and regularise the loan account of the

petitioners on the following conditions:

(i) The overdue amount of Rs.7,34,222/- shall be repaid in '8' equated monthly instalments. WP(C) NO. 28529 OF 2021

(ii) The first instalment shall be paid on or before 13/1/2022.

(iii) Petitioners shall continue to pay the regular EMI's along with the instalments directed above.

(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(v) In order to enable the petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 28529 OF 2021

APPENDIX OF WP(C) 28529/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE STATEMENT OF ACCOUNT ISSUED BY THE FIRST RESPONDENT FOR THE PERIOD FROM 01/01/2008 TO 22/11/2021.

Exhibit P2 TRUE COPY OF THE 13(2) NOTICE DATED 03/09/2021 ISSUED BY SECOND RESPONDENT.

Exhibit P3 TRUE COPY OF THE LETTER DATED 29/11/2021 SENT BY THE PETITIONER TO THE SECOND RESPONDENT.

Exhibit P4 TRUE COPY OF THE COMMUNICATION DATED 02/12/2021 ISSUED BY THE SECOND RESPONDENT TO THE PETITIONERS.

RESPONDENT'S EXHIBITS : NIL


AJM                //TRUE COPY//         PA TO JUDGE