Sunil Kumar A S vs The Housing Development Finance ...
2021 Latest Caselaw 20072 Ker

WP(C) NO. 20103 OF 2021

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             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
         THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
 FRIDAY, THE 24TH DAY OF SEPTEMBER 2021 / 2ND ASWINA, 1943
                      WP(C) NO. 20103 OF 2021
PETITIONERS:

     1       SUNIL KUMAR A S
             AGED 48 YEARS
             S/O.APPUKUTAN NAIR, SURABHI, PALIMOODU
             UZHAMALACKAL TRIVANDRUM 695 542
     2       SHEEJA K.A.
             AGED 46 YEARS
             W/O.SUNIL KUMAR, SURABHI, PALIMOODU UZHAMALACKAL
             TRIVANDRUM 695 542
             BY ADV M.R.SARIN


RESPONDENT:

             THE HOUSING DEVELOPMENT FINANCE CORPORATION
             LIMITED
             REP. BY ITS AUTHORISED OFFICER, HDFC LTD., HDFC
             HOUSE PB 2288, VAZHUTHACAUD, TRIVANDRUM 695 010
      THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   24.09.2021,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) NO. 20103 OF 2021

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                     BECHU KURIAN THOMAS, J
                 ................................................
                     W.P.(C) No.20103 of 2021
                  ...........................................
           Dated this the 24TH day of September, 2021


                              JUDGMENT

Petitioner is a borrower from the

respondent bank. He has committed default in

repayment of the loan amount. Consequently,

proceedings have been initiated by the bank for

recovery of the amounts due from the petitioner

after recalling the loan.

2. Though petitioner has raised various

challenges in the writ petition, during the course

of the hearing, petitioner has confined the relief

to an opportunity for repaying the overdue amount

in instalments and to obtain regularization of the

loan account.

3. It was submitted on behalf of the

respondent bank that the petitioner committed WP(C) NO. 20103 OF 2021

default in repayment of the loan amount and hence

petitioner's account was classified as non-

performing. It was further submitted that

thereafter proceedings for recovery of the amount

were initiated and also that even though

proceedings have been initiated for recovery of

the amounts due, as a mater of indulgence, the

respondent bank is willing to accept repayment of

the overdue amount of Rs.4,16,585/- in limited

instalments. Apart from the above, it was also

submitted that if the petitioner is willing to

repay the overdue amount as directed by this

Court, the respondent bank is willing to

regularise the loan account.

4. I have heard Adv.C.B.Sreekumar learned

Counsel for the petitioner as well as Adv.

Sri.Paulochan P.Antony the learned Counsel for the

respondent.

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 WP(C) NO. 20103 OF 2021

the view that the petitioner can be granted an

opportunity to repay the overdue amount in

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.8,00,000/- from the

petitioner and regularise the loan account of the

petitioner on the following conditions:

i) The overdue amount shall be repaid in 4

equated monthly instalments.

ii) The first instalment shall be made on or

before 12:00pm on 30/9/2021 and the balance

amount in 3 equated monthly instalments starting

from 30/10/2021.

iii) Petitioner shall continue to pay the

regular EMI's along with the instalments

directed above.

WP(C) NO. 20103 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) The above writ petition is disposed of as

above.

In order to enable the petitioner to repay the

entire amounts, all coercive proceedings shall be

kept in abeyance.

Sd/-

BECHU KURIAN THOMAS JUDGE

AJM WP(C) NO. 20103 OF 2021

APPENDIX OF WP(C) 20103/2021

PETITIONER'S EXHIBITS Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT UNDER SECTION OF 13(4) OF SECURITISATION ACT Exhibit P2 THE TRUE COPY OF ORDER IN MC NO.79/2021 BEFORE CJM THIRUVANANTHAPURAM DATED 24.2.2021 Exhibit P3 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN MC NO.79/2021 ON FILE THE CJM THIRUVANANTHAPURAM.

RESPONDENT'S EXHIBITS: NIL




AJM                       //TRUE COPY//          PA TO JUDGE