Binumon M. R vs Piramal Capital And Housing ...
2021 Latest Caselaw 23656 Ker

                   IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                    PRESENT

                THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

       TUESDAY, THE 30TH DAY OF NOVEMBER 2021 / 9TH AGRAHAYANA, 1943

                            WP(C) NO. 27128 OF 2021

PETITIONER:

              BINUMON M. R.,
              AGED 37 YEARS
              SD/O. M.K. RAJAN (LATE),
              MLANTHADATHIL HOUSE,
              KUZHIMATTOM P.O.,
              KOTTAYAM-686 533.
              BY ADVS.
              P.K.SOYUZ
              JELSON J.EDAMPADAM
              E.V.BABYCHAN


RESPONDENT:

              PIRAMAL CAPITAL AND HOUSING FINANCE,
              1ST FLOOR, KMM BUILDING,
              PALARIVATTOM, ERNAKULAM-682025,
              REPRESENTED BY ITS AUTHORIZED OFFICER.
              SRI.DENU JOSEPH,




THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.11.2021, THE

COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27128 OF 2021
                                              2



                         BECHU KURIAN THOMAS, J
                     ==========================
                         W.P.(C) No.27128 of 2021
                      ---------------------------------------
                Dated this the 30 th day of November, 2021

                                      JUDGMENT

Petitioner, inter alia, seeks for a direction to the

respondent to return possession of his residential property

and also for regularisation of his loan account.

2. Adv.Denu Joseph, takes notice on behalf of the

respondent and submits that security interest was enforced

and the property has been taken possession of by the

respondent in exercise of the powers under Section 13(4)

and 14 of the SARFAESI Act.

3. It was further pointed out by the learned counsel for the

respondent that the overdue amount is Rs.2,06,392/-.

4. The learned counsel for the petitioner, Adv.P.K.Soyus,

on the otherhand, submits that petitioner is ready to pay

the overdue amount in limited period of time and that,

unless the property is retuned to the petitioner, great

prejudice will be caused.

WP(C) NO. 27128 OF 2021

5. Having regard to the circumstances mentioned above,

this writ petition is disposed of with the following

directions:

(i) Petitioner shall pay an amount of Rs.50,000/- [Rupees

Fifty thousand only] on any day before 14.12.2021. On such

payment, the respondent Bank shall forthwith put the

petitioner back in possession of the residential property.

(ii) The balance overdue amount shall be repaid in 'ten'

equated monthly instalments. The first of it shall be paid on

or before 15.01.2022.

(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 aforesaid

amounts, all coercive proceedings against the petitioner

shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE

AMV/30/11//2021 WP(C) NO. 27128 OF 2021

APPENDIX OF WP(C) 27128/2021

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 26/11/2021 ISSUED BY THE RESPONDENT TO THE PETITIONER.

  RESPONDENTS EXHIBITS    NIL



                                                              TRUE COPY