Radhika S.L vs The Authorised Officer
2022 Latest Caselaw 4173 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
   THURSDAY, THE 7TH DAY OF APRIL 2022 / 17TH CHAITHRA, 1944
                      WP(C) NO. 12943 OF 2022
PETITIONER:

          RADHIKA S.L.,
          APARTMENT NO.G.B.,
          GOLDEN NEPTUNE APARTMENTS,
          MARADU, ERNAKULAM.

          BY ADV N.MAHESH


RESPONDENT:

          THE AUTHORISED OFFICER,
          HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED,
          RAVIPURAM JUNCTION, M.G.ROAD, ERNAKULAM - 682 035.
          BY SMT.S.AMBILY, SC.




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.12943 of 2022
                                               2



                             BECHU KURIAN THOMAS, J
                           ..............................................
                              W.P.(C) No.12943 of 2022
                              .....................................
                         Dated this the 7 th day of April, 2022

                                        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

petitioner committed default in repayment and the overdue

amount is Rs.10,21,914/-. 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 Sri.N.Mahesh., the learned counsel for the

petitioner as well as Smt.S.Ambily, the learned Standing

Counsel for the respondent.

WP(C) NO.12943 of 2022

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 '8'

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.10,21,914/- along with bank charges and applicable

interest from the petitioner and to regularise the loan

account of the petitioner on the following conditions:

(i). The overdue amount of Rs.10,21,914/- along with bank

charges and applicable interest shall be repaid in '8' equated

monthly instalments.

(ii). The first instalment shall be paid on or before

07.05.2022 and the remaining instalments shall be paid on

or before the 7th day of every succeeding month.

(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 WP(C) NO.12943 of 2022

with law.

(v) In order to enable the petitioner to repay the entire

amounts, all coercive proceedings initiated against the

petitioner shall be kept in abeyance.

         The    writ petition is disposed of.



                                                    Sd/-
                                            BECHU KURIAN THOMAS
                                                  JUDGE
         amk
 WP(C) NO.12943 of 2022




                              APPENDIX OF WP(C) 12943/2022

  PETITIONER'S           EXHIBITS :

  Exhibit P1             TRUE COPY OF CERTIFICATE OF INTEREST ISSUED BY
                         HDFC DATED 11/4/2018.
  Exhibit P2             TRUE COPY OF CERTIFICATE OF INTEREST ISSUED BY
                         HDFC DATED 17/5/2019.
  Exhibit P3             TRUE COPY OF DEMAND DRAFT FOR THE REMITTANCE

OF THE AMOUNT DUE DATED 24/2/2020 OF FEDERAL BANK.

Exhibit P4 TRUE COPY OF STATEMENT OF ACCOUNTS OF THE PETITIONER IN RESPECT OF ACCOUNT NUMBER 627418155 FOR THE PERIOD APRIL 2020 TO 5TH APRIL 2022 DATED 5/4/2022.

Exhibit P5 TRUE COPY OF STATEMENT OF ACCOUNTS OF THE PETITIONER IN RESPECT OF ACCOUNT NUMBER 627418193 FOR THE PERIOD APRIL 2020 TO 5TH APRIL 2022 DATED 5/4/2022.

Exhibit P6 TRUE COPY OF NOTICE DATED 23/3/2022 ISSUED BY ADVOCATE COMMISSIONER SREEMATI SREEKALA C. IN MC NO.354/2021 PENDING BEFORE JUDICIAL FIRST CLASS MAGISTRATE COURT (SPECIAL COURT FOR MPS AND MLAS), ERNAKULAM.

RESPONDENTS EXHIBITS : NIL

TRUE COPY