Kerala High Court
Surakumar V vs Hdfc Bank on 24 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 24TH DAY OF JUNE 2022 / 3RD ASHADHA, 1944
WP(C) NO. 13019 OF 2022
PETITIONER:
SURAKUMAR V.
AGED 56 YEARS
S/O.VISWAMBARAN NAIR, 'LEKSHMI'. THOTTUMPURAM,
KADUVAPARA, PALODE, PACHA P.O., THIRUVANANTHAPURAM -
695 562.
BY ADV V.K.HEMA
RESPONDENTS:
1 HDFC BANK
HDFC HOUSE, VAZHUTHACAUD, POST BOX NO.2288,
THIRUVANANTHAPURAM - 695 010 REPRESENTED BY ITS
MANAGER.
2 AUTHORIZED OFFICER
HDFC BANK, HDFC HOUSE, VAZHUTHACAUD, POST BOX NO.2288,
THIRUVANANTHAPURAM - 695 010.
BY ADVS.
K.K.CHANDRAN PILLAI (SR.)
S.AMBILY
MICKY THOMAS
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 13019 OF 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.4,34,198/-. 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
WP(C) NO. 13019 OF 2022
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 15.07.2022 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.4,34,198/- 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.4,34,198/- 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 15.07.2022
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 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
bng/24.06.2022
WP(C) NO. 13019 OF 2022
APPENDIX OF WP(C) 13019/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE DISCHARGE SUMMARY
ISSUED BY AMRITA INSTITUTE OF MEDICAL
SCIENCES DATED 28/2/2015
Exhibit P2 THE TRUE COPY OF THE PETITION DATED
12/01/2022 SUBMITTED BY THE WIFE OF THE
PETITIONER TO THE HON'BLE MINISTER
DEPARTMENT OF ANIMAL HUSBANDRY
Exhibit P3 THE TRUE COPY OF THE NOTICE DATED
31/01/2022 ISSUED BY THE RESPONDENTS
Exhibit P4 THE TRUE COPY OF THE NOTICE DATED
10/02/2022 ISSUED BY THE RESPONDENTS
