Mr. Pradeep Kumar S vs The Hdfc Bank Limited
2022 Latest Caselaw 1737 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    WEDNESDAY, THE 16TH DAY OF FEBRUARY 2022 / 27TH MAGHA, 1943
                        WP(C) NO. 5235 OF 2022
PETITIONER:

          MR. PRADEEP KUMAR S.,
          AGED 66 YEARS
          S/O. SREEKUMAR K., TC 13/903, KVRA 306, VADAYAKKAD OPP.
          REKHA PRINTERS, VANCHIYOOR THIRUVANANTHAPURAM 695 035.
          BY ADVS.
          V.R.REKESH
          R.UNNIKRISHNAN
          N.E.BINDU
          A.U.ANOOP


RESPONDENTS:

    1     THE HDFC BANK LIMITED,
          REP. BY ITS BRANCH MANAGER, PREMIER TOWERS, AYURVEDA
          COLLEGE BRANCH, M.G. ROAD, TRIVANDRUM 695 001.
    2     THE AUTHORISED OFFICER,
          HDFC LTD., HDFC HOUSE, VAZHUTHACAUD, THIRUVANANTHAPURAM
          69 5010.
OTHER PRESENT:

          ADV.S.AMBILY


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 5235 OF 2022
                                    2



              BECHU KURIAN THOMAS, J.
         -----------------------------------------
               W.P.(C) No. 5235 of 2022
          ----------------------------------------
       Dated this the 16th day of February, 2022

                         JUDGMENT

Petitioner as borrower from the respondent bank, has

committed default in repayment. Consequently,

proceedings have been initiated by the bank for recovery

of the amounts due.

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.2,08,204/-. 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. WP(C) NO. 5235 OF 2022

4. I have heard Sri.Rakesh V.R, the learned counsel

for the petitioner as well as Smt.S.Ambily, 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 overdue amount in '8' 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.2,08,204/- along with bank charges

from the petitioner and regularise the loan account of the

petitioner on the following conditions:

(i) The overdue amount of Rs.2,08,204/- shall be repaid in '8' equated monthly instalments.

(ii) The first instalment shall be paid on or before 16/03/2022.

WP(C) NO. 5235 OF 2022

(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 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 under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 5235 OF 2022

APPENDIX OF WP(C) 5235/2022

PETITIONER'S EXHIBITS :

Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13 (2) OF THE SARFESI ACT, 2002 DATED 23.07.2021.

Exhibit P2 A TRUE COPY OF THE ORDER ISSUED BY CHIEF JUDICIAL MAGISTRATE COURT, DATED 11.01.2022.

RESPONDENT'S EXHIBITS : NIL


AJM                  //TRUE COPY//           PA TO JUDGE