Smitha Krishnakumar vs The Authorized Officer
2021 Latest Caselaw 22135 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    FRIDAY, THE 5TH DAY OF NOVEMBER 2021 / 14TH KARTHIKA, 1943
                       WP(C) NO. 18394 OF 2021
PETITIONER:

          SMITHA KRISHNAKUMAR,
          AGED 45 YEARS
          W/O.KRISHNAKUMAR VAZHATHOPPIL KUTTAPPAN, OF VILLA
          NO.02, SOBHA CITY -SOBHA MALACHITE VILLAS, PUZHAKKAL
          PADAM, GURUVAYOOR ROAD, THRISSUR DISTRICT, PRESENTLY
          RESIDING AT SREYAS, NORTH BAZAR P.O., OLLUR,
          AVINISSERY, THRISSUR DISTRICT, PINCODE-680 306.
          BY ADVS.
          D.GANESH KUMAR
          M.UNNIKRISHNAN
          K.I.KAVITHA


RESPONDENTS:

    1     THE AUTHORIZED OFFICER,
          HDFC, RAMON HOUSE, HT PAREKH MARG, 169, BACKBAY,
          RECLAMATION, CHURCH GATE, MUMBAI-400 020.
    2     THE BRANCH MANAGER, HDFC LTD.,
          HDFC HOUSE, POST BAG NO.1667, RAVIPURAM JUNCTION, MG
          ROAD, KOCHI, PINCODE-682 015.
          BY ADVS.
          K.K.CHANDRAN PILLAI (SR.)
          S.AMBILY
          MICKY THOMAS


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 18394 OF 2021
                                   2



                 BECHU KURIAN THOMAS, J.
            -----------------------------------------
                 W.P.(C) No. 18394 of 2021
             ----------------------------------------
          Dated this the 5th day of November, 2021

                             JUDGMENT

Petitioner as a borrower from the respondent bank, has

committed default in repayment. Consequently, proceedings have

been initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioner has 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

petitioner committed default in repayment and the overdue amount is

Rs.59,68,943/- as on 15.09.2021. Pursuant to the direction of this

Court, petitioner paid an amount of Rs.10,00,000/- as on 30/10/2021.

It was further submitted that though proceedings for recovery have

been initiated, as a matter of indulgence, the respondent bank is

willing to accept repayment of the overdue amount in limited

instalments and regularise the loan account. WP(C) NO. 18394 OF 2021

4. I have heard Adv.D.Ganesh Kumar, learned counsel for the

petitioner as well as Adv.K.K.Chandran Pillai, the learned Senior

Counsel duly instructed by Adv.S.Ambily.

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 petitioner can be granted an

opportunity to repay the overdue amount in 12 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.59,68,943/-

along with bank charges from the petitioner and regularise the loan

account of the petitioner on the following conditions:

(i) The overdue amount of Rs.59,68,943/- shall be repaid in 12 equated monthly instalments deducting the Rs.10,00,000/- already paid by the petitioner.

(ii) The first instalment shall be paid on or before 30/11/2021.

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

WP(C) NO. 18394 OF 2021

(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 petitioner 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. 18394 OF 2021

APPENDIX OF WP(C) 18394/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF DEMAND NOTICE UNDER SUB SECTION 2 OF SECTION 13 OF THE SARFAESI ACT, 2002 ISSUED BY THE RESPONDENTS ON 09.03.2020.

Exhibit P2 TRUE COPY OF NOTICE DATED 01.09.2021 ISSUED BY THE ADVOCATE COMMISSIONER DEPUTED BY THE CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR DISTRICT IN CRL.MP NO.2936/2021.

RESPONDENT'S EXHIBITS : NIL



AJM                //TRUE COPY//          PA TO JUDGE