Niyas P A vs Hdb Financial Services Ltd
2022 Latest Caselaw 11869 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. 40145 OF 2022
PETITIONER:

              NIYAS P A
              AGED 36 YEARS
              S/O. ABDUL RAHMAN, POKKAKKILATH HOUSE, PATTIKKARA,
              CHIRANELLUR, THRISSUR., PIN - 680501
              BY ADVS.
              S.MUMTAZ
              ALISHA ASLAM
              AJITH M. JIJI
              AMINA RUBY FAIZAL

RESPONDENT:

              HDB FINANCIAL SERVICES LTD.,
              REP. BY THE AUTHORIZED OFFICER, 3RD AND 4TH FLOOR, HEMALATHA
              MANSION, 7-1-397/111 & 112, SR NAGAR, TELANGANA, HYDERABAD.,
              PIN - 500038
              ADV. P PAULOCHAN ANTONY, STANDING COUNSEL

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
21.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.40145 of 2022
                                      2




                              JUDGMENT

Dated this the 21st day of December, 2022

The petitioner availed credit facilities from the

respondent financial institution which include a

mortgage loan and an Emergency Credit granted on

account of Covid-19 pandemic. On default being

committed, the respondent financial institution has

initiated proceedings to recover the amounts due

under the provisions of the SARFAESI Act, 2002.

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 total outstanding amount is

Rs.44,17,720/-. It was further submitted that though

proceedings for recovery have been initiated, as a

matter of indulgence, the respondent bank is willing WPC No.40145 of 2022

to accept repayment of the outstanding amount in

limited instalments.

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

twelve (12) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.44,17,720/- along with

bank charges from the petitioner on the following

conditions:

(i) The outstanding amount of Rs.44,17,720/-

together with any accrued interest/costs shall

be repaid in twelve (12) equated monthly WPC No.40145 of 2022

instalments;

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

16.01.2023 and subsequent instalments shall

be paid on or before 16th 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/21-12 WPC No.40145 of 2022

APPENDIX OF WP(C) 40145/2022

PETITIONER'S EXHIBITS:

EXHIBIT P 1 TRUE COPY OF DEMAND NOTICE DATED 28/7/2022 ISSUED BY THE RESPONDENT TO THE LKPETITIONER. EXHIBIT P 2 TRUE COPY OF POSSESSION NOTICE DATED 10/11/2022 ISSUED BY THE RESPONDENT TO THE PETITIONER. EXHIBIT P 3 TRUE COPY OF LOAN TRANSACTION DETAIS OF THE PETITIONER WITH RESPONDENT BANK. EXHIBIT P 4 TRUE COPY OF THE REQUEST LETTER DATED 4/11D/2022 SUBMITTED BY THE PETITIONER BEFORE THE RESPONDENT.

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE