George Thomas Nellicken vs The Authorized Officer
2022 Latest Caselaw 10949 Ker

Citation : 2022 Latest Caselaw 10949 Ker
Judgement Date : 3 November, 2022

Kerala High Court

George Thomas Nellicken vs The Authorized Officer on 3 November, 2022

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
   THURSDAY, THE 3RD DAY OF NOVEMBER 2022 / 12TH KARTHIKA, 1944
                       WP(C) NO. 25076 OF 2022
PETITIONER:

          GEORGE THOMAS NELLICKEN,
          AGED 42 YEARS,
          S/O THOMAS NELLICKEN,
          KACHARAMATTOM NELLICKAL HOUSE,
          VALAVOOR P.O, PALA,
          KOTTAYAM DISTRICT - 686 635.

          BY ADVS.
          PRAVEEN K. JOY
          E.S.SANEEJ
          M.P.UNNIKRISHNAN
          M.K.SAMYUKTHA
          N.ABHILASH
          DEEPU RAJAGOPAL
          SANDRA S.KUMAR



RESPONDENTS:

    1     THE AUTHORIZED OFFICER,
          HOUSING DEVELOPMENT FINANCE
          CORPORATION LIMITED,
          HDFC LIMITED, RAVIPURAM BRANCH,
          ERNAKULAM DISTRICT - 682 015.

    2     BRANCH MANAGER
          HOUSING DEVELOPMENT FINANCE
          CORPORATION LIMITED
          HDFC LIMITED, RAVIPURAM BRANCH,
          ERNAKULAM DISTRICT - 682015

          BY ADVS.
          AMBILY S
          LAKSHMI ANIL
          K.K.CHANDRAN PILLAI (SR.)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.11.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 25076 OF 2022

                                2




                           JUDGMENT

The petitioner is a guarantor in respect of a housing loan

availed by his sister-in-law. On default being committed,

proceedings have been initiated under the provisions of the

SARFAESI Act to recover amounts due from the borrower as

well as from 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. The learned Senior Counsel appearing for the

respondent Bank submits that the borrower committed default

in repayment of the housing loan and the overdue amount as

on 30.10.2022 is Rs.14,91,000/-(Rupees fourteen lakhs ninety

one thousand only). The learned Senior Counsel appearing for

the respondent Bank points out that on an earlier occasion

also, the petitioner had approached this Court when the

demand notice was issued to the petitioner. It is submitted

that the petitioner failed to comply with the directions issued

by this Court. It is submitted that there is not even a prayer in

the writ petition for regularisation and the only prayer sought WP(C) NO. 25076 OF 2022

for is to grant One Time Settlement. It is submitted that

notwithstanding the above, if the petitioner is wiling to make

an upfront payment against the overdue amount of

Rs.14,91,000/-, the balance amounts can be remitted in 10

instalments along with the regular EMI.

4. I have heard the learned counsel for the petitioner as

well as the 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 petitioner can be

granted an opportunity to repay the total overdue amount on

condition that Rs.3,00,000/- shall be paid on or before

05.12.2022 and the balance amount is paid in 10 equal

monthly instalments. The first instalment shall be paid on or

before 05.01.2023 and thereafter, if all the amounts are 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.14,91,000/-(Rupees fourteen lakhs ninety one thousand

only) along with any accrued interest, costs and charges from WP(C) NO. 25076 OF 2022

the petitioner and regularise the loan account of the petitioner

on the following conditions:

i. The petitioner shall pay a sum of Rs.3,00,000/- (Rupees three lakhs only) on or before 05.12.2022; balance overdue amount along with any accrued interest, costs and charges shall be repaid in 10 equal monthly instalments.

ii. The first instalment shall be paid on or before 05.01.2023 and the subsequent instalments shall be paid on or before the 5th 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 including the proceedings for taking physical possession shall be kept in abeyance.