Krishnakumari.T vs The Authorized Officer. Hdfc ...
2022 Latest Caselaw 4770 Ker

W.P.C.No.14512/22                             1

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
           THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
 TUESDAY, THE 26TH DAY OF APRIL 2022 / 6TH VAISAKHA, 1944
                         WP(C) NO. 14512 OF 2022
PETITIONERS:

     1          KRISHNAKUMARI.T.,
                AGED 57 YEARS,
                W/O.JAYAKUMAR, KARTHIKA HOUSE, KANNIMEL,
                PATTAZHI P.O., KOLLAM-691 522.

     2          JAYAKUMAR.B.,
                AGED 58 YEARS,
                S/O.BALAKRISHNA PILLAI, KARTHIKA HOUSE,
                KANNIMEL, PATTAZHI P.O., KOLLAM-691 522.

                BY ADV SIJO PATHAPARAMBIL JOSEPH



RESPONDENT/S:

                THE AUTHORIZED OFFICER. HDFC LIMITED,
                HDFC HOUSE, VAZHUTHACAUD, POST BOX NO.2288,
                THIRUVANANTHAPURAM-695 010.


         THIS     WRIT   PETITION     (CIVIL)     HAVING   COME    UP    FOR
ADMISSION        ON   26.04.2022,     THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.C.No.14512/22                  2

                           JUDGMENT

The petitioner is challenging the recovery

proceedings initiated against him under the Secularization

and Reconstruction of Financial Assets and Enforcement

of Security Interest [SARFAESI] Act, 2002. The petitioner

has availed a credit facility from the respondent Bank and

consequent to the default committed by the petitioner in

repaying the amount, the said account is declared as NPA.

Accordingly, recovery proceedings have been initiated

which is impugned in this writ petition.

2. The learned counsel appearing for the Bank

submits that as on date, an amount of Rs.4,13,042/-

[Rupees four lakhs thirteen thousand forty two only] is in

arrears towards installments. It is submitted by the

learned counsel for the Bank upon instructions that they

are amenable for granting an opportunity to the petitioner

to regularize the loan account by paying the entire

installment overdue along with interest in reasonable

monthly installments.

In such circumstances, this writ petition is disposed

of granting an opportunity to the petitioner to regularize

the loan account by paying the installment overdue as

mentioned above along with interest due thereon in six

equal monthly installments commencing from 15 th May,

2022 onwards. The subsequent installments shall be paid

by the petitioner on 15th day of every month. Along with

the aforesaid payment, regular monthly installments shall

also be paid. In case of default on the part of the

petitioner in payment of any of the installments including

regular monthly installments, the aforesaid facility shall

stand cancelled, upon which the Bank will be at liberty to

proceed with the recovery proceedings. Subject to the

above direction, the recovery proceedings against the

petitioner is directed to be kept in abeyance.

Sd/-

ZIYAD RAHMAN A.A.

JUDGE DG/26.4.22

APPENDIX OF WP(C) 14512/2022

PETITIONER EXHIBITS

Exhibit P1 A TRUE COPY OF THE NOTICE DATED 14.12.2020 ISSUED BY THE RESPONDENT.