Kerala High Court
Basheer Mohammed Kannu vs Tata Capital Housing Finance ... on 3 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 3RD DAY OF JUNE 2022 / 13TH JYAISHTA, 1944
WP(C) NO. 15145 OF 2022
PETITIONER:
BASHEER MOHAMMED KANNU,
AGED 70 YEARS
S/O.S.MOHAMMED KANNU, RS NO.142/2-18, 142-6,
KAITHAKONAM HOUSE, KAITHAKONAM, KATTAKADA P.O.,
VEERANAKAVU, THIRUVANANTHAPURAM-695 572.
BY ADV E.V.MOLY
RESPONDENT:
TATA CAPITAL HOUSING FINANCE LIMITED,
GROUND FLOOR, JAIN TOWER II, NH 66, NEAR LULU MALL,
EDAPPALLY, KOCHI-682 024,
REPRESENTED BY ITS AUTHORIZED OFFICER.
SRI.P.PAULOCHAN ANTONY(SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.15145/2022 2
JUDGMENT
Petitioner has approached this Court challenging proceedings
initiated under the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act (hereinafter
referred to as the Securitisation 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 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.36,30,961/-. 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 the learned counsel for the petitioner as well as
the learned Standing Counsel for the respondent Bank.
5. Having regard to the facts and circumstances of the case
and the situation now prevailing, apart from the submissions made
as recorded above and considering the fact that this is a housing loan
and also taking into account the fact that the petitioner has
undertaken to clear off the overdue amount along with regular EMIs,
I am of the view that the petitioner can be granted an opportunity to
clear off the overdue amount in twelve (12) equal instalments first of
which shall be paid on or before 30.6.2022 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.36,30,961/- 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.36,30,961/- together with
any accrued interest and charges shall be repaid in
twelve equated monthly instalments.
(ii) The first instalment shall be paid on or before
30.6.2022 and the subsequent instalments shall be
paid on the last working day of every succeeding
month.
(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 petitioners 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
spk
APPENDIX OF WP(C) 15145/2022
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE
DATED 28.09.2021.
Exhibit P2 THE TRUE COPY OF THE LOAN ACCOUNT
STATEMENT OF THE ACCOUNT NO.10618673.
Exhibit P3 THE TRUE COPY OF THE LOAN ACCOUNT
STATEMENT OF THE ACCOUNT
NO.TCHHF0472000100065770.
Exhibit P4 THE TRUE COPY OF THE ORDER DATED
12.04.2022 RECEIVED BY THE PETITIONER
ON APPLICATION.
RESPONDENT'S/S EXHIBITS : NIL
