Kerala High Court
Sasidharan V.P vs Housing Development Finance ... on 17 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
THURSDAY, THE 17TH DAY OF MARCH 2022 / 26TH PHALGUNA, 1943
WP(C) NO. 9053 OF 2022
PETITIONERS:
1 SASIDHARAN V.P.,
AGED 51 YEARS,
S/O.PADMANABHAN NAIR, VAKKAYIL HOUSE,
THIRUMUKULAM, IRANIKULAM P.O.,
THRISSUR DISTRICT, PIN - 680 734.
2 RAMADEVI SASIDHARAN,
AGED 46 YEARS,
W/O.SASIDHARAN V.P.,
VAKKAYIL HOUSE, THIRUMUKULAM, IRANIKULAM P.O.,
THRISSUR DISTRICT,PIN-680 734.
BY ADVS.
I.SHEELA DEVI
PRADEEP BABU P.D.
RESPONDENT/S:
1 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED,
HDFC HOUSE, P.O.NO.1667, RAVIPURAM JUNCTION,
M.G.ROAD, KOCHI - 682 015,
REPRESENTED BY THE BRANCH MANAGER.
2 THE AUTHORIZED OFFICER
HOUSING DEVELOPMENT FINANCE CORPORATION LTD.,
HDFC HOUSE, P.O.NO.1667, RAVIPURAM JUNCTION,
M.G.ROAD, KOCHI - 682 015.
BY ADVS.
K.K.CHANDRAN PILLAI (SR.)
S.AMBILY,SC
MICKY THOMAS
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 17.03.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) NO. 9053 OF 2022
2
BECHU KURIAN THOMAS, J.
-----------------------------------------
W.P.(C) No. 9053 of 2022
----------------------------------------
Dated this the 17th day of March, 2022
JUDGMENT
Petitioners as borrowers from the respondent bank, has
committed default in repayment. Consequently, proceedings have
been initiated by the bank for recovery of the amounts due under two
loan accounts.
2. During the course of hearing, petitioners have confined the
relief to an opportunity for repaying the overdue amount in
instalments and to obtain regularisation of the loan accounts.
3. It was submitted on behalf of the respondent bank that the
petitioners committed default in repayment and the overdue amount
is Rs.1,76,983/-. 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 accounts.
4. I have heard Adv.I.Sheela Devi, the learned Counsel for
petitioners as well as Adv.S.Ambily, the learned Standing Counsel for
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
WP(C) NO. 9053 OF 2022
opportunity to repay the overdue amount in 10 instalments and
thereafter, if the amount so directed is repaid within the time as
directed above, to have the loan accounts regularised.
6. Accordingly, there will be a direction to the respondent bank
to accept repayment of the entire overdue amount of Rs.1,76,983/-
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.1,76,983/- shall be repaid in 10
equated monthly instalments.
(ii) The first instalment shall be paid on or before 17.04.2022.
(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 including those
initiated under section 14 of the SARFAESI Act shall be
kept in abeyance .
The writ petition is disposed of as above.
Sd/-
BECHU KURIAN THOMAS
JUDGE
nk
WP(C) NO. 9053 OF 2022
APPENDIX OF WP(C) 9053/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE STATEMENT OF DUES AS ON
31/10/2021 ISSUED BY THE 1ST RESPONDENT BANK
TO THE PETITIONERS.
Exhibit P2 TRUE COPY OF THE NOTICE DATED 14/03/2022 IN
M.C.NO.101/2022 ISSUED BY THE HON'BLE CHIEF
JUDICIAL MAGISTRATE COURT, THRISSUR THROUGH
ADVOCATE COMMISSIONER.
