Salabha Ravindran vs The Branch Manager
2021 Latest Caselaw 391 Ker

                    IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                    PRESENT

                 THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN

           WEDNESDAY, THE 06TH DAY OF JANUARY 2021 / 16TH POUSHA, 1942

                           WP(C).No.17666 OF 2020(G)


PETITIONER:

                 SALABHA RAVINDRAN
                 AGED 48 YEARS
                 W/O. K.N. RAVINDRAN, KANNENKADAN HOUSE, MARATHAKARA P.O.
                 THRISSUR DISTRICT 680 306.

                 BY ADV. SRI.MAHESH V.MENON

RESPONDENTS:

       1         THE BRANCH MANAGER
                 DEWAN HOUSING FINANCE CORPORATION LTD, AMBIKA ARCADE 1ST
                 FLOOR, MG ROAD, THRISSUR 680 001.

       2         AUTHORISED OFFICER,
                 DEWAN HOUSING FINANCE CORPORATION LTD, 1ST FLOOR K.M.M
                 BUILDING DOOR NO. 32/2383, B AND DI,
                 PALARIVATTOM, KOCHI 682 025.

                 BY ADV. SRI.P.PAULOCHAN ANTONY-SC

      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06.01.2021,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.17666 OF 2020(G)

                                  2




                            JUDGMENT

The petitioner has approached this Court impugning Ext.P1

notice issued by the respondent - Financial Institution, under the

provisions of Section 13(4) of Securitisation and Reconstruction

of Financial Assets and Enforcement of Securities Interest Act

('the SARFAESI Act' for brevity).

2. I notice from the records that when this matter was

considered by this Court on 03.12.2020, an interim order had

been issued, directing the petitioner to remit an amount of Rs.10

lakhs on or before 04.01.2021 "to prove her bona fides in the

matter".

3. However, when this case was called today, Sri.Sunil

Kumar, learned Standing Counsel for the respondent - Financial

Institution, submitted that the petitioner has not remitted the

afore amount but added fairly that if she can remit at least Rs.7

lakhs by the end of this month, she can be allowed to pay off the

overdues, which is, as on 02.12.2020, Rs.27,34,281/- in not more

than 10 equal monthly installments, so as to have the account WP(C).No.17666 OF 2020(G)

regularised.

4. When I hear Sri.Sunil Kumar as afore, it is obvious

that since the petitioner has not complied with the interim order

of this Court, she cannot be normally granted any further

latitude.

5. However, since the respondent - Financial Institution

has been more than fair to her in allowing a further indulgence, I

deem it appropriate to order this writ petition, granting her the

benefits as now acceded to by them.

6. In the afore circumstances, I order this writ petition

and direct the petitioner to pay an amount of Rs.7 lakhs on or

before 31.01.2021; in which event, the balance overdues, which

is stated to be Rs.27,34,281/- as on 02.12.2020, along with all

applicable charges and interest, will be allowed to be paid by her

in 10 equal monthly installments, commencing from 02.03.2021.

It is needless to say that as long as the petitioner continues

to make payment in terms of the afore directions, all further

action pursuant to Ext.P1 shall stand deferred; but in the event,

she defaults even one of the installments as afore, the Financial

Institution will be at liberty to pursue with their steps under the WP(C).No.17666 OF 2020(G)

SARFAESI Act without having to secure any further orders from

this Court.

This writ petition is thus ordered.

SD/-

                                          DEVAN RAMACHANDRAN

rp                                              JUDGE
 WP(C).No.17666 OF 2020(G)






                               APPENDIX

PETITIONER'S/S EXHIBITS:

EXHIBIT P1              TRUE COPY OF 13 (4) NOTICE ISSUED BY THE 2ND

RESPONDENT UNDER SARFAESI ACT DTD. 22.06.2020.