Abraham vs Dewan Housing Finance ...
2022 Latest Caselaw 11236 Ker

Citation : 2022 Latest Caselaw 11236 Ker
Judgement Date : 2 December, 2022

Kerala High Court

Abraham vs Dewan Housing Finance ... on 2 December, 2022

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 2ND DAY OF DECEMBER 2022 / 11TH AGRAHAYANA, 1944
                             WP(C) NO. 39137 OF 2022
PETITIONER:

     1        ABRAHAM
              AGED 48 YEARS
              S/O SCARIA,
              PARAYIL HOUSE, CHUNGAKKUNNU P.O.,
              THALASSERY, IRITTY TALUK,
              KANNUR DISTRICT, PIN - 670651
              BY ADV DOMSON J.VATTAKUZHY

RESPONDENTS:

     1        DEWAN HOUSING FINANCE CORPORATION LTD.
              2ND FLOOR, GRAND PLAZA, FORT ROAD, KANNUR DISTRICT, PIN -
              670001 REPRESENTED BY ITS BRANCH MANAGER,
              (NOW AS PIRAMAL CAPITAL AND HOUSING FINANCE LIMITED.)
     2        THE AUTHORIZED OFFICER UNDER THE SARFAESI ACT
              DEWAN HOUSING FINANCE CORPORATION LTD.,
              2ND FLOOR, GRAND PLAZA, FORT ROAD,
              KANNUR DISTRICT, PIN - 670001
              BY ADV DENU JOSEPH

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
02.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.39137 of 2022
                                            2




                                JUDGMENT

Dated this the 02nd day of December, 2022

The 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 under a housing loan.

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 committed default in

repayment and the overdue amount is

Rs.13,81,253/- (Rupees Thirteen lakh eighty one

thousand two hundred fifty three only). It was further

submitted that though proceedings for recovery have WPC No.39137 of 2022

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 Adv.Domso J.Vattakuzhi, learned

counsel for the petitioner as well as Adv.Denu Joseph

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 fifteen

(15) installments 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.13,81,253/- (Rupees Thirteen

lakh eighty one thousand two hundred fifty three WPC No.39137 of 2022

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.13,81,253/-

(Rupees Thirteen lakh eighty one thousand

two hundred fifty three only)along with any

accrued interest and charges shall be

repaid in fifteen (15) equated monthly

installments;

(ii) The first installment shall be paid on or

before 30.12.2022 and the subsequent

installments shall be paid on or before the

last working day of each succeeding month;