Car Care vs Hdb Financial Services Ltd
2023 Latest Caselaw 8467 Ker

                  IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                     THE HONOURABLE MR.JUSTICE C.S.DIAS
         MONDAY, THE 7TH DAY OF AUGUST 2023 / 16TH SRAVANA, 1945
                          OP (DRT) NO. 266 OF 2021
PETITIONER:

     1        CAR CARE
              13/277 AB, BP ANGADI P.O,
              KUTTIPURAM ROAD, TIRUR,
              MALAPPURAM DISTRICT, PIN 676 102
              REPRESENTED BY MR SHAFEEQU P.T,
              AGED 51 YEARS, S/O. KUNHAPPU HAJI,
              S/O. PALLIPATTU THOOMBEL HOUSE,
              BYPASS ROAD, BP ANGADI P.O,
              TIRUR, MALAPPURAM DISTRICT.
              BY ADVS.
              P.T.SHEEJISH
              P.P.RAVOOF
              HARIKIRAN
              JASHITHA VIJAYAN
              A.ABDUL RAHMAN (A-1917)
              AKHILA SRIDHARAN
              STEPHY GRACE RAJ

RESPONDENTS:

     1        HDB FINANCIAL SERVICES LTD
              KOZHIKODE, REPRESENTED BY ITS MANAGER, HDB FINANCIAL
              SERVICES LTD, 2ND FLOOR, IA GRACE BUILDING, WAYANAD ROAD,
              MALAPARAMBA, NEAR IQRAA HOSPITAL, KOZHIKODE DISTRICT, PIN
              673 009
     2        AUTHORIZED OFFICER
              HDB FINANCIAL SERVICES LTD, 2ND FLOOR, IA GRACE BUILDING,
              WAYANAD ROAD, MALAPARAMBA, NEAR IQRAA HOSPITAL, KOZHIKODE
              DISTRICT, PIN 673 009
              BY ADV P.PAULOCHAN ANTONY

     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
07.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP(DRT) No.266 of 2021
                                       2




                              C. S. DIAS, J.
                   -------------------------
                        O.P.(DRT) No.266 of 2021
                   -------------------------
          Dated this the 07th day of August, 2023

                              JUDGMENT

The original petition is filed to direct the

respondents 1 and 2 not to proceed with the

recovery proceedings pursuant to Ext.P3

possession notice until a decision is taken in

Ext.P4 securitisation application filed before the

Debt Recovery Tribunal, Ernakulam (in short,

'Tribunal').

2. Today, when the original petition was

taken up for consideration, the learned Counsel

appearing for the petitioner submitted that the

petitioner would be satisfied, if they permitted to

pay the outstanding amount due to the

respondents in equated monthly instalments. OP(DRT) No.266 of 2021

3. Heard; Sri. P. P. Ravoof, learned Counsel

for the petitioner and Sri. Paulochan Antony,

learned Counsel for the respondents.

4. Sri. Paulochan Antony, on instructions,

submitted that the outstanding amount as on

today is Rs.26,04,921/-. The account has already

been written off. Nonetheless, the respondents

are willing to permit the petitioner to pay the

outstanding amount in six equated monthly

instalments. The said submission is recorded.

5. The learned Counsel appearing for the

petitioner prays that the petitioner may be

granted atleast fifteen equated monthly

instalments to pay the outstanding amount.

6. Having considered the pleadings and

materials on record and after appreciating the

rival submissions made across the Bar, I deem it

appropriate to direct the respondents to defer

further proceedings pursuant to Ext.P3 notice to OP(DRT) No.266 of 2021

enable the petitioner to pay the outstanding

amount in instalments.

Resultantly, in exercise of the supervisory

powers of this Court under Article 227 of the

Constitution of India, I am inclined to allow the

original petition.

Resultantly, I order the original petition as

follows:

(i) The respondents are directed to defer

further proceedings pursuant to Ext.P3 notice, to

enable the petitioner to pay the outstanding as

stated above in instalments.

(ii) The petitioner is permitted to pay the

outstanding amount as stated above with future

interest and cost to the first respondent finance

company in ten equated monthly instalments,

commencing from 07.09.2023.

(iii) Needless to mention, if the petitioner

commits default in the condition ordered above, OP(DRT) No.266 of 2021

the petitioner would lose the benefit of this

judgment and the respondents would be at

liberty to proceed with recovery proceedings

from the stage it presently stands.

(iv) It is made clear that, no further

application for modification/extension of time

shall be entertained.

Sd/-

C. S. DIAS JUDGE SKP/07-08 OP(DRT) No.266 of 2021

APPENDIX OF OP (DRT) 266/2021

PETITIONER'S EXHIBITS:

EXHIBIT P1 THE TRUE COPY OF THE COMMUNICATION INTIMATING THE SANCTIONING OF THE LOAN AND THE TERMS AND CONDITIONS OF THE LOAN EXHIBIT P2 THE TRUE COPY OF THE PROPERTY INSURANCE POLICY DOCUMENTS ISSUED TO THE PETITIONER EXHIBIT P3 THE TRUE COPY OF THE POSSESSION NOTICE DATED 03-11-2021 ISSUED BY THE 2ND RESPONDENT EXHIBIT P4 THE TRUE COPY OF THE MEMORANDUM OF SECURITIZATION APPLICATION, VIDE FILING ID NO. 9926/2021 EXHIBIT P5 THE TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONER IN EXHIBIT P4 SECURITIZATION APPLICATION, VIDE FILING ID.NO.9926/2021 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE