Arumugham.S vs Dewan Housing Finance ...
2022 Latest Caselaw 1897 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     FRIDAY, THE 18TH DAY OF FEBRUARY 2022 / 29TH MAGHA, 1943
                         WP(C) NO. 4173 OF 2022
PETITIONERS :

    1     ARUMUGHAM.S.,
          AGED 53 YEARS,
          S/O.SHANMUGHAM.S., KOTTARATHUPARAMBIL HOUSE,
          THITTAMEL, CHENGANNUR P.O.,
          ALAPPUZHA DISTRICT-689 121.

    2     MRS.KUMUDHAM ARUMUGHAM,
          W/O.ARUMUGHAM, KOTTARATHUPARAMBIL HOUSE,
          THITTAMEL, CHENGANNUR P.O.,
          ALAPPUZHA DISTRICT-689 121.

          BY ADV P.VINODKUMAR



RESPONDENTS :

    1     DEWAN HOUSING FINANCE CORPORATION LTD.,
          HAVING ITS REGISTERED OFFICE AT WARDEN HOUSE,
          2ND FLOOR, SIR P.M.ROAD, FORT, MUMBAI,
          MAHARASHTRA-400 001,
          REPRESENTED BY ITS MANAGER.

    2     THE AUTHORISED OFFICER, BRANCH OFFICE,
          HDFC LTD., FIRST FLOOR, KMM BUILDING,
          PALARIVATTOM, COCHIN-682 025.

          BY ADV. PAULOCHAN ANTONY


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.02.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 4173 OF 2022
                                      2


                      BECHU KURIAN THOMAS, J.
                     -----------------------------------
                       W.P.(C) No. 4173 of 2022
                       -------------------------------
                Dated this the 18th day of February, 2022


                                JUDGMENT

Petitioners as borrowers from the respondent bank, have

committed default in repayment. Consequently, proceedings have been

initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioners have 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

petitioners committed default in repayment and the overdue amount is

Rs.50,30,236/-. 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.

4. I have heard Sri.P.Vinod Kumar, learned counsel for the

petitioners as well as Sri.Paulochan P.Antony, 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 petitioners can be granted an opportunity WP(C) NO. 4173 OF 2022

to repay the overdue amount in '10' 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.50,30,236/- as on

09.02.2022 from the petitioners and regularise the loan account of the

petitioners on the following conditions :

(i) The overdue amount of Rs.50,30,236/- shall be repaid in '15' equated monthly instalments.

(ii) The first instalment shall be paid on or before 18.03.2022.

(iii) Petitioners 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 petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 4173 OF 2022

APPENDIX OF WP(C) 4173/2022

PETITIONERS' EXHIBITS :

Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE COMMISSIONER DATED 25.01.2022.