Kerala High Court
T.G.Martin vs The Authorised Officer 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.9034 OF 2022
PETITIONERS:
1 T.G.MARTIN
AGED 50 YEARS
S/O. GEORGE, NO.28,CHETTIPARAMBIL, 31/358/N,
CHOORAKKAD, THEKKUMBHAGAM, ERNAKULAM, PIN 682 301
2 TIBI KURIAN
AGED 39 YEARS
W/O. MARTIN,NO.28, CHETTIPARAMBIL, 31/358/N,
CHOORAKKAD, THEKKUMBHAGAM, ERNAKULAM, PIN 682 301
BY ADVS.
P.K.SAJEEVAN
FREDDY PHILIP A.
ANISH RAJ O.U.
SINCEY A.H.
K.A.ABDUL NISTAR
AMARNATH K.G.
SAYED MUHAMAD
B.RADHAKRISHNAN
RAMLAL V.R.
ALTHAF NABEEL
ARPANAL T. A.
RESPONDENTS:
1 THE AUTHORISED OFFICER
M/S. TATA CAPITAL HOUSING FINANCE LTD,
11TH FLOOR, TOWER-A, PENISUNLA BUSINESS PARK,
GANPATRAO KADAM MARG, LOWER PAREL, MUMBAI 400 013
2 M/S. TATA CAPITAL HOUSING FINANCE LTD.,
11TH FLOOR, TOWER A, PENISUNAL BUSINESS PARK,
GANPATRAO KADAM MARG, LOWER PAREL,
MUMBAI 400 013
REPRESENTED BY ITS AUTHORISED OFFICER
3 RESERVE BANK OF INDIA
REGIONAL OFFICE, SHAHID BHAGAT SINGH ROAD,
KALA GHODA, FORT MUMBAI, MAHARASHTRA 400 001
REPRESENTED BY ITS GOVERNOR
BY ADV.PAULOCHAN ANTONY P., STANDING COUNSEL FOR
THE BANK
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 17.03.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P(C) No.9034 OF 2022
2
BECHU KURIAN THOMAS, J.
===========================
W.P(C) No.9034 OF 2022
============================
Dated this the 17th day of March, 2022
JUDGMENT
Petitioners as borrowers from the first and second respondents
have committed default in repayment. Consequently, proceedings have
been initiated by the said respondents for recovery of the amounts due.
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 respondents 1 and 2 that
the petitioner committed default in repayment. It was further submitted
that though proceedings for recovery have been initiated, as a matter of
indulgence, the respondent financial institution is willing to accept
repayment of the overdue amount in limited instalments and regularise
the loan account.
4. I have heard Adv.P.K.Sajeevan, the learned counsel for the
petitioner as well as Adv.Paulochan Antony P., the learned counsel for
respondents.
W.P(C) No.9034 OF 2022
5. The learned counsel for the petitioner submitted that
petitioner shall pay an amount of Rs.2,35,266/- (Rupees Two Lakh Thirty
Five Thousand Two Hundred and Sixty Six only) on or before 30.03.2022.
6. Having regard to the circumstances of the case and the
situation now prevailing, apart from the submission made as recorded
above, I am of the view that the petitioner can be granted an
opportunity to repay the overdue amount in instalments and thereafter,
if the amount so directed is repaid within the time as directed above, to
have the loan account regularised.
7. Accordingly, there will be a direction to the respondents 1 and
2 to accept Rs.2,35,266/- (Rupees Two Lakh Thirty Five Thousand Two
Hundred and Sixty Six only) from the petitioner if paid on or before
30.03.2022 and regularise the loan account of the petitioner and
withdraw all proceedings under the SARFAESI Act on the following
conditions:
(i) If the said amount is deposited, the respondents shall
regularise the loan account
(ii) Petitioner shall continue to pay the regular EMI's along
with the instalments .
(iii) In the event of default of any one instalment,
respondents 1 and 2 shall be entitled to proceed in
accordance with law.
W.P(C) No.9034 OF 2022
(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/-
BECHU KURIAN THOMAS
JUDGE
nk
W.P(C) No.9034 OF 2022
APPENDIX OF WP(C) 9034/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE DATED 04-08-2021
ISSUED BY 1ST RESPONDENT.
Exhibit P2 TRUE COPY OF THE ABOVE NOTICE DATED 29-01-2022
ISSUED BY 1ST RESPONDENT.
