Sheeja Shanmughan K vs Pnb Housing Finance Limited
2022 Latest Caselaw 10997 Ker

Citation : 2022 Latest Caselaw 10997 Ker
Judgement Date : 3 November, 2022

Kerala High Court

Sheeja Shanmughan K vs Pnb Housing Finance Limited 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. 35106 OF 2022
PETITIONER:

     1        SHEEJA SHANMUGHAN K
              AGED 43 YEARS
              D/O SHANMUGHAN, KANNADIPADI, V.V.K VALATH ROAD, SOUTH
              CHITTOOR P.O, ERNAKULAM-, PIN - 682027
              BY ADVS.
              BLAISE JOSEPH
              PRAVINATH A.P.
              RESSIL LONAN
              CHITHRA MOL R.

RESPONDENTS:

     1        PNB HOUSING FINANCE LIMITED
              VYTILA BRANCH, 1ST FLOOR, R P ARCADE, PONNURUNNI, VYTTILA,
              ERNAKULAM- REPRESENTED BY THE BRANCH MANAGER, PIN - 682019
     2        THE AUTHORIZED OFFICER
              PNB HOUSING FINANCE LIMITED, VYTILA BRANCH, 1ST FLOOR, R P
              ARCADE, PONNURUNNI, VYTTILA, ERNAKULAM- , PIN - 682019
              BY ADV P.PAULOCHAN ANTONY

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
03.11.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.35106 of 2022
                                           2




                              JUDGMENT

Dated this the 03rd day of November, 2022

The petitioner has approached this Court

challenging proceedings initiated by the respondent

Bank under the provisions of the Securitisation and

Reconstruction of Financial Assets and Enforcement

of Security Interest Act, for recovery of the amounts

due from the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

overdue amount in installments 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.7,54,807/- (Rupees Seven lakh fifty four thousand

eight hundred seven only). It was further submitted

that though proceedings for recovery have been WPC No.35106 of 2022

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 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 overdue amount in

installments 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.7,54,807/- (Rupees Seven

lakh fifty four thousand eight hundred seven only) WPC No.35106 of 2022

along with bank charges from the petitioner and

regularise the loan account of the petitioner in the

following manner:-

(i) The petitioner shall pay a sum of Rs.2

lakhs on or before 05.12.2022. The

balance overdue amount along with any

accrued interest and charges shall be

repaid in eight (8) equated monthly

installments;

(ii) The first installment shall be paid on or

before 05.01.2023 and the subsequent

installments shall be paid on or before the

05th day of each succeeding month;