Shajan K Thomas vs Housing Finance Development ...
2022 Latest Caselaw 6140 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. 28614 OF 2021
PETITIONER:

            SHAJAN K THOMAS
            AGED 55 YEARS
            S/O. THOMAS, KANJIRAKUNNEL HOUSE, ERAMALLOOR P.O,
            CHERTHALA, ALAPPUZHA
            BY ADV K.C.SUDHEER


RESPONDENT:

            HOUSING FINANCE DEVELOPMENT FINANCE CORPORATION
            HDFC HOUSE, P.O NO 1667, RAVIPURAM JUNCTION,
            M G ROAD, KOCHI REPRESENTED BY ITS AUTHORIZED
            OFFICER HOUSING FINANCE DEVELOPMENT FINANCE
            CORPORATION, HDFC HOUSE, P.O NO 1667,
            RAVIPURAM JUNCTION, M G ROAD, KOCHI
            BY ADVS.
            K.K.CHANDRAN PILLAI (SR.SC)
            MICKY THOMAS
            S.AMBILY



     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.28614/2021
                                  -:2:-

                          JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due upon a loan availed by the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

outstanding amount is Rs.4,08,820/-(Rupees Four Lakhs

Eight Thousand Eight Hundred and Twenty Only). 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

outstanding amount in limited instalments.

4. I have heard Adv.K.C.Sudheer, learned counsel for

the petitioner as well as Adv.K.K. Chandran Pillai, the

learned Senior Counsel for the respondent. W.P.(C) No.28614/2021

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 12 instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.4,08,820/-(Rupees Four Lakhs

Eight Thousand Eight Hundred and Twenty Only) along

with bank charges from the petitioner on the following

conditions:

(i) The outstanding amount of Rs.4,08,820/- (Rupees

Four Lakhs Eight Thousand Eight Hundred and Twenty

Only) together with any accrued interest/costs shall be

repaid in 12 equated monthly installments.

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

30-06-2022. The subsequent installments shall be paid on

or before the last working day of the succeeding months. W.P.(C) No.28614/2021

(iii) In the event of default of any one installment, 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

ats W.P.(C) No.28614/2021

APPENDIX OF WP(C) 28614/2021

PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE MEDICAL CERTIFICATE DATED 17-11-2021 ISSUED FROM THE LITTLE FLOWER INSTITUTE OF RESEARCH CENTRE ANGAMALY Exhibit P2 THE TRUE COPY OF THE HIGH COURT ORDER DATED 18-07-2014 IN WP(C) NO. 17400 OF

Exhibit P3 THE TRUE COPY OF THE NOTICE DATED 08-11-

2021 ISSUED FROM THE RESPONDENT BANK Exhibit P4 THE TRUE COPY OF THE ONLINE ACCOUNT STATEMENT DATED 31-10-2021 ISSUED FROM THE RESPONDENT BANK