Babu K vs The Authorised Officer
2022 Latest Caselaw 6777 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
             THE HONOURABLE MR. JUSTICE GOPINATH P.
  TUESDAY, THE 14TH DAY OF JUNE 2022 / 24TH JYAISHTA, 1944
                     WP(C) NO. 19296 OF 2022
PETITIONER:

            BABU K,
            AGED 54 YEARS, S/O NEELAMBARAN,
            LEELA VILASOM, VATTALIL, ADAYAMON P.O,
            KILIMANOOR, THIRUVANANTHAPURAM DISTRICT.


            BY ADVS.
            K.SIJU
            ANJANA KANNATH
            T.S.SREEKUTTY


RESPONDENTS:

    1       THE AUTHORISED OFFICER,
            SUNDARAM BNP PARIBAS HOME FINANCE LTD,
            SUNDARAM TOWERS, 46 WHITES ROAD, CHENNAI-600014.


    2       THE BRANCH MANAGER,
            SUNDARAM BNP PARIBAS HOME FINANCE LTD,
            TC 20/30 37, 2ND FLOOR, KAIRALI PLAZA,
            KARAMANA P.O, KILLIPALAM,
            THIRUVANANTHAPURAM-695 002.


            BY ADV VARGHESE C.KURIAKOSE



     THIS     WRIT   PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   14.06.2022,    THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.19296/2022
                                  -:2:-


                          JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (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 installments.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

outstanding amount is Rs.9,90,554/-(Rupees Nine Lakhs

Ninety Thousand Five Hundred and Fifty Four 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 installments.

4. I have heard Adv.Siju Kamalasanan, learned

counsel for the petitioner as well as W.P.(C) No.19296/2022

Adv.Varghese.C.Kuriakose, 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

petitioner can be granted an opportunity to repay the

outstanding amount in 8 installments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.9,90,554/- (Rupees Nine Lakhs

Ninety Thousand Five Hundred and Fifty Four Only) along

with bank charges and any accrued interest/costs from the

petitioner on the following conditions:

(i) The petitioner shall pay an amount of Rs.1,50,000/-

(Rupees One Lakh Fifty Thousand Only) on or before

15-07-2022 and the balance amount together with any

accrued interest/costs shall be repaid in 8 equated

monthly installments commencing from 15-08-2022.

(ii) The subsequent installments shall be paid on or

before the 15th day of every succeeding months W.P.(C) No.19296/2022

(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.19296/2022

APPENDIX OF WP(C) 19296/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF JUDGMENT IN WPC NO 23928/2017 DATED 29.8.2017

Exhibit P2 TRUE COPY OF ORDER IN MC NO 321/2022 DATED 2.4.2022 ON THE FILE OF CHIEF JUDICIAL MAGISTRATE COURT , THIRUVANANTHAPURAM

Exhibit P3 TRUE COPY OF NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 18.5.2022