Sabu Subhagan vs The Housing Development Finance ...
2022 Latest Caselaw 10137 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         THURSDAY, THE 15TH DAY OF SEPTEMBER 2022 / 24TH BHADRA, 1944
                             WP(C) NO. 28609 OF 2022
PETITIONER:

     1        SABU SUBHAGAN
              AGED 51 YEARS
              S/O. SUBHAGAN
              RESIDING AT 68 A7/101 B, 'KRISHNA'
              ANARI, ALAPPUZHA DISTRICT, PIN - 690514, PIN - 690514
              BY ADV B.RENJITHKUMAR

RESPONDENTS:

     1        THE HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
              H.D.F.C HOUSE, VAZHUTHACAUD
              THIRUVANANTHAPURAM DISTRICT, PIN - 695 010
              REPRESENTED BY THE AUTHORIZED OFFICER., PIN - 695010
     2        THE MANAGER
              HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
              MAVELIKKARA BRANCH, ALAPPUZHA DISTRICT
              PIN - 690101, PIN - 690101
     3        THE AUTHORISED OFFICER
              HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, H.D.F.C
              HOUSE, VAZHUTHACAUD
              THIRUVANANTHAPURAM DISTRICT, PIN - 695 010
              REPRESENTED BY THE AUTHORIZED OFFICER, PIN - 695010
              BY ADVS.
              AMBILY S
              LAKSHMI ANIL(K/002184/2022)
              K.K.CHANDRAN PILLAI (SR.)(C-41)

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
15.09.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC NO.28609 OF 2022
                                           2




                             JUDGMENT

Dated this the 15th day of September, 2022

The petitioner has approached this Court

challenging proceedings initiated by the respondent

Corporation 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 under housing,

top up and insurance loans.

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. Learned Senior Counsel appearing on

instructions of Adv.S.Ambily for the respondent

Corporation submits that the petitioner committed

default in repayment and the total overdue amount in

respect of the four loans is Rs.15,76,905/- (Rupees WPC NO.28609 OF 2022

Fifteen lakh seventy six thousand nine hundred five

only) as on 30.08.2022. It was further submitted

that the petitioner had earlier approached this Court

and had obtained Ext.P1 judgment and technically

the present writ petition is not maintainable. It is

submitted that though the position is as above, the

petitioner can be given one last opportunity to clear

the overdue amount in instalments.

4. I have heard learned counsel for the

petitioner as well as the learned counsel for the

respondent Corporation.

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 amounts in ten (10)

instalments and thereafter, if the amount so directed

is repaid within the time given, to have the loan

account regularised.

WPC NO.28609 OF 2022

6. Accordingly, there will be a direction to the

respondent Corporation to accept repayment of the

entire overdue amount of Rs.15,76,905/- (Rupees

Fifteen lakh seventy six thousand nine hundred five

only) along with bank charges from the petitioner

and regularise the loan account of the petitioner in

the following manner:-

(i) The overdue amount of Rs.15,76,905/-

(Rupees Fifteen lakh seventy six thousand

nine hundred five only) along with any

accrued interest and charges shall be repaid in

ten (10) equated monthly instalments;

(ii) The first instalment shall be paid on or before

10.10.2022 and the subsequent instalments

shall be paid on or before the 10 th day of

each succeeding month;

(iii) Petitioner shall continue to pay the

regular EMI's/instalments along with the

instalments directed above;

WPC NO.28609 OF 2022

(iv) In the event of default of any one instalment,

the respondent Corporation shall be entitled

to proceed in accordance with law;

(v) 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/-

GOPINATH P.

JUDGE SKP/15-09 WPC NO.28609 OF 2022

APPENDIX OF WP(C) 28609/2022

PETITIONER'S EXHIBITS:

EXHIBIT-P1 THE TRUE COPY OF THE SAID JUDGMENT DATED 17.6.2019 IN W.P.(C) NO. 16350/2019 IN THE FILE OF THIS HON'BLE COURT EXHIBIT-P2 THE TRUE COPY OF THE SAID REQUEST (UNDATED) SUBMITTED BY THE PETITIONER TO THE 2ND RESPONDENT RESPONDENTS' EXHIBITS: NIL

TRUE COPY

P.A.TO JUDGE