Ajith Gopidas vs Tata Capital Housing Finance Ltd
2022 Latest Caselaw 11616 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
     TUESDAY, THE 20TH DAY OF DECEMBER 2022 / 29TH AGRAHAYANA, 1944
                             WP(C) NO. 40902 OF 2022
PETITIONER:

     1        AJITH GOPIDAS
              AGED 58 YEARS
              S/O. M.D GOPIDAS, SREEVIHAR,
              MAYITHARA MARKET P.O, KANJIKUZHI VILLAGE,
              CHERTHALA TALUK, ALAPPUZHA DISTRICT., PIN - 688539
              BY ADVS.
              JOSEPH GEORGE
              P.A.REJIMON
              SAJEEV JOHN T.

RESPONDENTS:

     1        TATA CAPITAL HOUSING FINANCE LTD
              11TH FLOOR, TOWER A, PENINSULA BUSINESS PARK, GANPATRAO
              KADAM MARG, LOWER PAREL, MUMBAI,
              REPRESENTED BY THE REGIONAL OFFICER, GROUND FLOOR,
              JAIN TOWER-II, N.H 17, NEAR LULU MALL,
              EDAPPALLY, KOCHI., PIN - 682024
     2        THE AUTHORIZED OFFICER
              TATA CAPITAL HOUSING FINANCE LTD,
              REGIONAL OFFICE, GROUND FLOOR,
              JAIN TOWER-II, N.H 17, NEAR LULU MALL,
              EDAPPALLY, KOCHI., PIN - 682024
              ADV. P PAULOCHAN ANTONY, STANDING COUNSEL

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
20.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.40902 of 2022
                                      2




                             JUDGMENT

Dated this the 20th day of December, 2022

The petitioner availed two loans from the

respondent bank; one of them is a housing loan while

the other is a 'home equity loan'. The petitioner

committed default in repayment resulting proceedings

being initiated against the petitioner under the

provisions of the SARFAESI Act, 2002.

2. The learned counsel appearing for the

petitioner states that the property of the petitioner

was scheduled to be sold today (20.12.2022). It is

submitted that as per the information available to the

petitioner, there are no bidders and therefore, the

sale is unlikely to happen today. It is submitted that

the petitioner may be given an opportunity to repay

the entire liability in instalments.

3. Learned counsel appearing for the respondent

bank would submit that there are no bidders for the WPC No.40902 of 2022

sale scheduled today and therefore the petitioner can

be given some instalments to settle entire liability. It

is submitted that the total outstanding as on date is

Rs.2,36,67,206/-.

4. I have heard the learned counsel for the

petitioner as well as the learned Standing Counsel for

the respondents.

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 outstanding amount in

fifteen (15) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.2,36,67,206/- along with

bank charges from the petitioner on the following

conditions:

(i) The outstanding amount of Rs.2,36,67,206/- WPC No.40902 of 2022

together with any accrued interest/costs shall

be repaid in fifteen (15) equated monthly

instalments;

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

16.01.2023 and subsequent instalments shall

be paid on or before 16th day of every

succeeding month;

(iii) In the event of default of any one instalment,

the respondent bank shall be entitled to

proceed in accordance with law;

(iv) 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 SKP/20-12 WPC No.40902 of 2022

APPENDIX OF WP(C) 40902/2022

PETITIONER'S EXHIBITS:

EXHIBIT P-1 TRUE PHOTOCOPY OF NOTICE DATED 15-10-2022 ISSUED BY THE 2ND RESPONDENT.

EXHIBIT P-2 TRUE PHOTOCOPY OF NOTICE DATED 29-11-2022 ISSUED BY THE 2ND RESPONDENT RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE