Abraham Alby @ Alby Abraham vs Authorized Officer
2022 Latest Caselaw 6124 Ker

                    IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                        PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
       WEDNESDAY, THE 1ST DAY OF JUNE 2022 / 11TH JYAISHTA, 1944
                              WP(C) NO. 17763 OF 2022
PETITIONERS:

       1          ABRAHAM ALBY @ ALBY ABRAHAM
                  AGED 47 YEARS
                  S/O A ABRAHAM, 402, SUPARSHAV, SARVODAYA NAGAR, OPP JAI
                  HOR, MULUND WEST, MUMBAI. 400080.

       2          ALBY MANJU @ MANJU ALBY ABRAHAM,
                  AGED 46 YEARS, WIFE OF ABRAHAM ALBY, 402, SUPARSHAV,
                  SARVODAYA NAGAR, OPP JAI HOR, MULUND WEST, MUMBAI.
                  400080.

                  BY ADVS.
                  KISHOR B.
                  RANSIYA.K
                  ROBIN JOS M. J.



RESPONDENT/S:

                  AUTHORIZED OFFICER
                  HOUSING DEVELOPMENT FINANCE CORPORATION LTD RAMON
                  HOUSE, H T PAREKH MARG, 169, BACKBAY, RECLAMATION,
                  CHURC. GATE, MUMBAI, 400020 WITH REGIONAL OFFICE, HDFC
                  HOUSE, 3RD FLOOR, RAVIPURAM JUNCTION, M G ROAD, COCHIN.
                  682015.

                  SMT. S. AMBILY -SC


THIS       WRIT    PETITION   (CIVIL)   HAVING    COME   UP   FOR   ADMISSION   ON
01.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(c)No.17763/2022                        2

                                  JUDGMENT

The petitioners have approached this Court challenging proceedings

under the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (hereinafter referred to as the

Securitisation Act) initiated at the instance of the respondent Bank. When this

matter came up for consideration, the learned counsel appearing for the

petitioners would submit that the only relief sought for is a direction to the

respondent Bank to permit the petitioners to clear off the liability in

instalments.

2. The learned Standing Counsel for the Bank submits that since the

entire loan has been recalled and the loan has been in NPA status from

January, 2020, the Bank is not amenable to permit the petitioners to

regularise the loan account.

3. The learned counsel for the petitioners submits that the

petitioners are ready and willing to clear off the entire liability in instalments.

He also submits that the petitioners will pay an amount of Rs.3 lakhs on or

before 30.6.2022.

4. The learned counsel for the respondent Bank submits that as on

date, the total liability comes to Rs.15, 45, 851/-.

5. Having heard the learned counsel for the petitioners and the

learned Standing Counsel for the Bank, this writ petition will stand disposed of

directing that, the petitioners shall pay an amount of Rs.3 lakhs on or before

30.6.2022. The balance amount shall be remitted the balance amount in

twelve (12) equal monthly instalments commencing from 30.7.2022. If any

default is committed by the petitioners, it will be open to the respondent Bank

to proceed against the petitioners, in accordance with law. The petitioners

shall also discharge any additional interest liability and costs which may be

demanded by the respondent bank. If the petitioners comply with the

aforesaid conditions, all further proceedings under the Securitisation Act shall

remain stayed.

Sd/-

GOPINATH P.

JUDGE

acd

APPENDIX OF WP(C) 17763/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF NOTICE UNDER SECTION 13 (20 OF SARFAESI ACT 2002 DATED 17.04.20220

Exhibit P2 TRUE COPY OF NOTICE ISSUED BY ADVOCATE COMMISSIONER DATED 29.04.2022