Divya vs Housing Development Finance ...
2021 Latest Caselaw 22674 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
           THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     FRIDAY, THE 19TH DAY OF NOVEMBER 2021 / 28TH KARTHIKA, 1943
                        WP(C) NO. 25893 OF 2021
PETITIONER/S:

1          DIVYA
           AGED 33 YEARS
           W/O SUNIL KUMAR, PEROTH HOUSE,
           ANNAYAKKAL, PORKELANGAD P O
           KUNNAMKULAM
           THRISSUR DISTRICT.
           BY ADVS.
           T.R.HARIKUMAR
           ADITHYA RAJEEV


RESPONDENT/S:

    1.     HOUSING DEVELOPMENT FINANCE CORPORATION LTD.,
           RAMON HOUSE, HT PAREKH MARG, 169,
           BACKBAY RECLAMATION, CHURCHGATE, MUMBAI, PIN - 400020
           REPRESENTED BY ITS MANAGING DIRECTOR

    2.     BRANCH MANAGER, HOUSING DEVELOPMENT FINANCE CORPORATION
           LTD,
           KUNNAMKULAM BRANCH, MC TOWER, THRISSUR ROAD,
           KUNNAMKULAM, THRISSUR DISTRICT, PIN - 680503

           BY ADV.K.K.CHANDRAN PILLAI (DR)
              ADV. S.AMBILY, SC
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
19.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 25893 OF 2021


                                -2-

                          JUDGMENT

Petitioner as 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 the 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.3,32,338/-. 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.

4. I have heard Adv.T.R.Harikumar, the learned counsel for

the petitioner as well as Adv.K.K.Chandran Pillai, the learned WP(C) NO. 25893 OF 2021

Standing 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 petitioner can be

granted an opportunity to repay the overdue amount in 'sixteen'

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.

3,32,338/- along with bank charges from the petitioner and to

regularise the loan account of the petitioner on the following

conditions:

(i). The overdue amount of Rs.3,32,338/- shall

be repaid in 'sixteen' equated monthly

instalments.

(ii). The first instalment shall be paid on or WP(C) NO. 25893 OF 2021

before 17.12.2021.

(iii). Petitioner 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 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

uu 19.11.2021 WP(C) NO. 25893 OF 2021

APPENDIX PETITIONER'S EXHIBITS:

EXHIBIT P1 A TRUE COPY OF THE NOTICE MEMO DATED 25-02-2020 ISSUED BY THE ADVOCATE COMMISSIONER