Arun Kumar S vs M/S. Housing Development Finance ...
2022 Latest Caselaw 2307 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    WEDNESDAY, THE 2ND DAY OF MARCH 2022 / 11TH PHALGUNA, 1943
                        WP(C) NO. 6815 OF 2022
PETITIONERS:

    1     ARUN KUMAR S
          AGED 36 YEARS
          S/O. SANKARALINGAM CHETTIYAR S.,
          PLAVILLA PUTHENVEEDU, VADEKEEVILLA,
          BALARAMAPURAM, THIRUVANANTHAPURAM-695034

    2     SANKARALINGAM CHETTIYAR.S, AGED 60 YEARS,
          S/O. AYYAPPAN CHETTIYAR,
          PLAVILLA PUTHENVEEDU, VADEKEEVILLA,
          BALARAMAPURAM, THIRUVANANTHAPURAM-695034

    3     SANTHI.V., AGED 53 YEARS,
          W/O. SANKARALINGAM CHETTIYAR.S.
          PLAVILLA PUTHENVEEDU, VADEKEEVILLA,
          BALARAMAPURAM, THIRUVANANTHAPURAM-695034

          BY ADVS.
          R.S.KALKURA
          M.S.KALESH
          R.BINDU
          HARISH GOPINATH


RESPONDENTS:

    1     M/S. HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
          HDFC HOUSE, VAZHUTHACAUD, POST BOX NO.2288,
          THIRUVANANTHAPURAM - 695010 REPRESENTED BY ITS MANAGER.

    2     AUTHORISED OFFICER
          M/S. HOUSING DEVELOPMENT FINANCE CORPORATIONLTD.,
          HDFC HOUSE, VAZHUTHACAUD, POST BOX NO.2288,
          THIRUVANANTHAPURAM - 695010.

          BY ADVS.
          K.K. CHANDRAN PILLAI (SR.)
          S.AMBILY (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.03.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6815 OF 2022

                                  2


              BECHU KURIAN THOMAS, J.
           ===========================
                W.P.(C) No.6815 of 2022
           ============================
                Dated this the 2nd day of March, 2022

                             JUDGMENT

Petitioners as borrowers from the respondent bank, have

committed default in repayment. Consequently, proceedings

have been initiated by the bank for recovery of the amounts due.

2. During the course of hearing, petitioners have confined

the relief to an opportunity for repaying the overdue amount in

instalments and to obtain regularization of the loan account.

3. It was submitted on behalf of the respondent bank that

the petitioners committed default in repayment and the overdue

amount is Rs.2,01,928/-. 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 regularize the

loan account.

WP(C) NO. 6815 OF 2022

4. I have heard Shri.R.S.Kalkura, learned counsel for the

petitioners as well as Shri.K.K.Chandran Pillai, duly instructed

by Smt.S.Ambily, learned 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 petitioners can be

granted an opportunity to repay the overdue amount in ten

instalments and thereafter, if the amount so directed is repaid

within the time as directed above, to have the loan account

regularized.

6. Accordingly, there will be a direction to the respondent

bank to accept repayment of the entire overdue amount of

Rs.2,01,928/- along with bank charges from the petitioners and

regularize the loan account of the petitioners on the following

conditions:

(a) The overdue amount of Rs.2,01,928/- shall be repaid in ten equated monthly instalments. WP(C) NO. 6815 OF 2022

(b) The first instalment shall be paid on or before 30.03.2022.

(c) Petitioners shall continue to pay the regular EMI's along with the instalments directed above.

(d) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

(e) In order to enable the petitioners to repay the entire amounts, all coercive proceedings initiated under Section 14 of the SARFAESI Act shall be kept in abeyance.

(f) Since the petitioners have a doubt regarding the actual amounts remaining overdue, the respondents shall furnish a statement of accounts on or before 15.03.2022.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS JUDGE ssa/ WP(C) NO. 6815 OF 2022

APPENDIX OF WP(C)6815/2022

PETITIONERS' EXHIBITS

Exhibit P1 TRUE COPY OF THE LETTER OF OFFER DATED 28.05.2015 WITH TERMS AND CONDITIONS ISSUED BY THE 1ST RESPONDENT TO THE 1ST PETITIONER.

Exhibit P2 TRUE COPY OF THE NOTIFICATION DATED 23.05.2020 ISSUED BY THE RESERVE BANK OF INDIA BEING COVID 19 REGULATORY PACKAGE.

Exhibit P3 TRUE COPY OF THE CIRCULAR BEARING NO.DOR.STR.REC.11/21.04.048/2021-22 DATED 05.05.2020 ISSUED BY THE RESERVE BANK OF INDIA.

Exhibit P4 TRUE COPY OF THE NOTICE DATED 26.10.2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONERS

Exhibit P5 TRUE COPY OF THE NOTICE DATED 05.11.2021 ISSUED BY THE 2ND RESPONDENT UNDER SECTION 13(2) OF THE SARFAESI ACT.