Somichan Thomas vs Piramal Capital & Housing Finance ...
2023 Latest Caselaw 5379 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
           THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
     TUESDAY, THE 25TH DAY OF APRIL 2023 / 5TH VAISAKHA, 1945
                       WP(C) NO. 14582 OF 2023
PETITIONERS:

    1     SOMICHAN JOSEPH
          AGED 45 YEARS
          S/O JOSEPH, PANDALANICKAL HOUSE, VELLAD VILLAGE,
          KARUVANCHAL.P.O. KANNUR., PIN - 670 571

    2     ARCHANA JOSE
          AGED 40 YEARS
          W/O SOMICHAN JOSEPH,
          PANDANICKAL HOUSE, VELLAD VILLAGE,
          KARUVANCHAL.P.O. KANNUR, PIN - 670 571

          BY ADVS.
          ANN SUSAN GEORGE
          TOM PIOUS
          PIOUS THOMAS
          APARNA V. DEVASSIA



RESPONDENTS:

          PIRAMAL CAPITAL & HOUSING FINANCE LTD
          EARLIER KNOWN AS DEWAN HOUSING FINANCE CORPORATION LTD.
          REGISTERED OFFICE AT WARDEN HOUSE,
          2ND FLOOR, SIR P.M. ROAD , FORT MUMBAI : 400 001.
          REPRESENTED BY ITS AUTHORIZED OFFICER,
          RAMSUNDER GANESAN, 1ST FLOOR,
          KMM BUILDING, NEAR HOTEL RENAISSANCE,
          PALARIVATTOM, COCHIN, PIN - 682 025

          ADV.JIMMY GEORGE


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.04.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 14582 OF 2023


                                      2


                      MOHAMMED NIAS C.P, J
                     ----------------------------------------
                      WP (C) No.14582 of 2023
                   -------------------------------------------
               Dated this the 25th day of April, 2023

                             JUDGMENT

The petitioners had availed a loan of Rs.21 lakh from the

respondent bank in the year 2018 by mortgaing 4 Ares of

property owned by the 1st petitioner as a Security/Guarantee for

the purpose of construction of a Residential House. Due to the

difficulties caused, repayments were not made in time and the

same led to proceedings for recovery against the petitioners.

2. The limited prayer of the petitioners in this writ petition

is to grant instalment facility to pay the overdue amounts and

to regularise the loan account.

3. The learned Standing Counsel for the respondent Bank,

on instructions, submits that the overdue as on today is

Rs.8,15,529/-.

4. Taking into account the averments in the writ petition

and after hearing the learned counsel on either side, I deem it

appropriate to grant 6 equal monthly instalment facility to the WP(C) NO. 14582 OF 2023

petitioners to wipe off the overdue amounts due to the

respondent bank.

5. In the said circumstances this writ petition is disposed

of permitting the petitioners to clear off the overdue amounts

due to the respondent bank in 6 equal monthly instalments

starting from 15.05.2023. The petitioners will also be liable to

pay the applicable EMI with the accrued interest, if any,

continuously over and above the instalments to pay off the

overdue amounts.

6. It is made clear that if there are two defaults committed

in paying the instalments at any time, the petitioners will lose

the benefit of this order and the respondent bank will be at

liberty to proceed against the petitioners on the basis of the

recovery proceedings already initiated.

The writ petition is disposed of.

Sd/-

MOHAMMED NIAS C.P, J

JUDGE sn WP(C) NO. 14582 OF 2023

APPENDIX OF WP(C) 14582/2023

PETITIONER'S EXHIBITS

Exhibit.P1 TRUE COPY OF THE ORDER DATED 24.01.2023. IN C. M. P. NO. 4884 / 2022 ON THE FILES OF THE CHIEF JUDICIAL MAGISTRATE COURT, THALASSERY,

RESPONDENT'S EXHIBITS : NIL

//TRUE COPY// PA TO JUDGE