Kerala High Court
Dileep Kumar V vs The Housing Development Finance ... on 13 January, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 13TH DAY OF JANUARY 2022 / 23RD POUSHA, 1943
WP(C) NO. 1061 OF 2022
PETITIONERS:
1 DILEEP KUMAR V.,
AGED 37 YEARS, S/O VENUPILLAI,
SWAPNA BHAVANAM,
PATHIRICKAL, PARAKKADAVU P.O,
SOORANAD NORTH, KOLLAM DISTRICT - 690561
2 SARALAMMA,
AGED 56 YEARS, W/O VENUPILLAI,
SWAPNA BHAVANAM, PATHIRICKAL,
PARAKKADAVU P.O, SOORANAD NORTH,
KOLLAM DISTRICT, PIN - 690561
BY ADVS.
MANU RAMACHANDRAN
M.KIRANLAL
R.RAJESH (VARKALA)
T.S.SARATH
SAMEER M NAIR
HARSHA SUSAN SAM
GEETHU KRISHNAN
RESPONDENTS:
1 THE HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED,
RETAIL ASSET HUB, HDFC HOUSE,
P.O NO.1667, RAVIPURAM JUNCTION,
M.G. ROAD, KOCHI- 682 015
REPRESENTED BY ITS MANAGER,
2 THE AUTHORIZED OFFICER,
THE HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
RETAIL ASSET HUB, HDFC HOUSE,
P.O NO.1667, RAVIPURAM JUNCTION,
M.G. ROAD, KOCHI - 682015
BY ADV S.AMBILY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
13.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 1061 OF 2022
2
BECHU KURIAN THOMAS, J.
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W.P.(C).No.1061 of 2022
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Dated this the 13th day of January, 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.2,54,336/-. 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.Manu Ramachandran, learned counsel
for the petitioners as well as Sri.S.Ambily, the learned counsel for the
respondents.
WP(C) NO. 1061 OF 2022
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 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.2,54,336/- along with bank charges from the petitioners and
regularise the loan account of the petitioners on the following
conditions :
(i) The overdue amount of Rs.2,54,336/- shall be
repaid in '8' equated monthly instalments.
(ii) The first instalment shall be paid on or before
15.02.2022.
(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
WP(C) NO. 1061 OF 2022
entire amounts, all coercive proceedings under
Section 14 of the Securitisation 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
RKM
WP(C) NO. 1061 OF 2022
APPENDIX
PETITIONER'S EXHIBITS :
EXT.P1 TRUE COPY OF THE NOTICE DATED 17.12.2021 ISSUED BY
THE ADVOCATE COMMISSIONER AT THE INSTANCE OF
THE RESPONDENTS
EXT.P2 THE LETTER VIDE NO.H.ACCTS PREPLET/9767020 DATED
29.12.2021 ISSUED BY THE RESPONDENTS TO THE 1ST
PETITIONER
