Rajesh R vs The Branch Manager
2022 Latest Caselaw 11789 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
 WEDNESDAY, THE 21ST DAY OF DECEMBER 2022 / 30TH AGRAHAYANA, 1944
                       WP(C) NO. 39643 OF 2022
PETITIONER:

          RAJESH R,
          AGED 34 YEARS,
          S/O RAJEEVAN PILLAI RESIDING AT
          KAVARA VAADAKKETHIL VEEDU, MEENAKSHI NAGAR - 12,
          PUNTHALATHAZHAM, KILIKOLLOOR P.O, KOLLAM-691 004.

          BY ADVS.
          S.SREEKUMAR (KOLLAM)
          K.VIJAYAN
          NAMITHA RAJESH
          ZIAD M.



RESPONDENTS:

    1     THE BRANCH MANAGER,
          HDFC LTD, FIRST FLOOR, MARYLAND CHAMBERS, OPPOSITE
          KADAPPAKADA SPORTS CLUB, KADAPPAKADA P.O, KOLLAM -
          691008.

    2     THE AUTHORIZED OFFICER
          HDFC LTD, HDFC HOUSE, VAZHUTHACAUD,
          THIRUVANANTHAPURAM - 695 010.

          BY ADVS.
          AMBILY S
          LAKSHMI ANIL(K/002184/2022)
          K.K.CHANDRAN PILLAI (SR.)(C-41)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 39643 OF 2022

                                  2




                            JUDGMENT

The petitioner availed two loans from the respondent financial

institution. One is a construction loan and the other is an insurance

loan. The petitioner has approached this Court challenging

proceedings under the SARFAESI Act which have been initiated by

the respondent financial institution 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 accounts.

3. It was submitted on behalf of the respondent financial

institution that the petitioner committed default in repayment of

the above two loans and the total overdue amount is Rs.4,76,164/-

(Rupees four lakhs seventy six thousand one hundred and sixty

four only). It was further submitted that though proceedings for

recovery have been initiated, as a matter of indulgence, the

respondent financial institution 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 WP(C) NO. 39643 OF 2022

as the learned 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 overdue amount in 12 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

financial institution to accept repayment of the entire overdue

amount of Rs.4,76,164/-(Rupees four lakhs seventy six thousand

one hundred and sixty four only) along with any accrued interest,

costs and charges from the petitioner and regularise the loan

account of the petitioner on the following conditions:

i. The overdue amount of Rs.4,76,164/-(Rupees four lakhs seventy six thousand one hundred and sixty four only) along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments.

ii. The first instalment shall be paid on or before 15.01.2023 and the subsequent instalments shall be paid on or before the 15th 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 financial institution shall be entitled to proceed in accordance with law.

v. In order to enable the petitioner to repay the entire amounts, WP(C) NO. 39643 OF 2022

all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE DK WP(C) NO. 39643 OF 2022

APPENDIX OF WP(C) 39643/2022

PETITIONER EXHIBITS

Exhibit-P1 THE TRUE COPY OF THE PETITIONER'S MOTHER'S MRI SCAN REPORT DATED 10.03.2019

Exhibit-P2 THE TRUE COPY OF THE PETITIONER'S MOTHER'S DEATH CERTIFICATE

Exhibit-P3 A TRUE COPY OF THE ADVOCATE COMMISSIONER'S NOTICE DATED 30.09.2022 ISSUED BY THE ADVOCATE COMMISSIONER IN M.C. NO: 131/2022 OF THE HON'BLE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM

Exhibit-p4 A TRUE COPY OF THE REPRESENTATION DATED 12.10.2022 SUBMITTED BY THE PETITIONER BEFORE THE FIRST RESPONDENT