Salma K H vs The Authorized Officer, ...
2022 Latest Caselaw 9888 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
     WEDNESDAY, THE 31ST DAY OF AUGUST 2022 / 9TH BHADRA, 1944
                        WP(C) NO. 27324 OF 2022
PETITIONER/S:

          SALMA K H
          AGED 43 YEARS
          SALMA K H, D/O K E HAMZA, AGED 43 YEARS, 1624, KIDUNGIL
          HOUSE, NEAR FIRE SERVICE STATION, MATTANCHERRY,
          ERNAKULAM, PIN-682002 NOW RESIDING AT 1008, KIDUNGIL
          HOUSE, CHERICHANATTU DEVI TEMPLE ROAD, NEAR AROOKKUTTTY
          SERVICE SOCIETY, AROOKKUTTTY P O, ALAPPUZHA, PIN-
          688535, PIN - 688535
          BY ADV C.R.SANISH


RESPONDENT/S:

    1     THE AUTHORIZED OFFICER, MANAPPURAM HOME FINANCE LTD,
          KANAKLIA WALL STREET, A WING, UNIT NO.301-315, ANDHERI
          KURLA ROAD, ANDHERI (EAST) MUMBAI-400093, PIN - 400093
    2     MANAPPURAM HOME FINANCE LTD
          MANAPPURAM HOME FINANCE LTD, IV/470A (OLD) W/638 A(NEW)
          MANAPPURAM HOUSE, VALAPAD, THRISSUR, PIN-680567
          REPRESENTED BY ITS MANAGER, PIN - 680567
          ADV. C. HARIKUMAR
     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
31.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 27324 OF 2022               2



                                  JUDGMENT

Petitioner has approached this Court, challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioner.

2. During the course of 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 availed a housing loan from the

respondent bank and committed default in repayment and

the overdue amount is Rs.9,55,195/- (Rupees Nine lakhs fifty

five thousand one hundred and ninety five only). 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 the learned counsel for the petitioner

as well as 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 the view that the petitioner

can be granted an opportunity to repay the overdue amount

in thirty 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.9,55,195/- (Rupees Nine lakhs fifty five

thousand one hundred and ninety five only) along with bank

charges from the petitioner and regularise the loan account

of the petitioner in the following manner:-

(i) The overdue amount of Rs.9,55,195/- (Rupees Nine lakhs fifty five thousand one hundred and ninety five only) along with any accrued interest and charges shall be repaid in thirty equated monthly instalments;

(ii)The first instalment shall be paid on or before 16.09.2022 and the subsequent instalments shall be paid on or before the 16th day of each succeeding month;

(iii) Petitioner shall continue to pay the regular EMI's/instalments 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/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 27324/2022

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN MC NO.413/2022 PENDING BEFORE THE HONOURABLE CJM COURT, ALAPPUZHA Exhibit P2 THE TRUE COPY OF THE REPRESENTATION DATED 16/08/2022 SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENTS