Saranya B vs M/S. Hdfc Ltd
2023 Latest Caselaw 8907 Ker

Citation : 2023 Latest Caselaw 8907 Ker
Judgement Date : 14 August, 2023

Kerala High Court

Saranya B vs M/S. Hdfc Ltd on 14 August, 2023

                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                     THE HONOURABLE MR.JUSTICE N.NAGARESH
         MONDAY, THE 14TH DAY OF AUGUST 2023 / 23RD SRAVANA, 1945
                           WP(C) NO. 26448 OF 2023
PETITIONERS:

     1       SARANYA B
             AGED 41 YEARS, W/O SHELLY R S,
             BHAJA GOVINDAM, SISILIPURAM, VENGANOOR POST,
             THIRUVANANTHAPURAM DISTRICT, PIN - 695001
     2       SHELLY R S
             AGED 47 YEARS, S/O RAVINDRAN, RESHMY, POONCODE,
             BHAGAVATHYNADA, THIRUVANANTHAPURAM DISTRICT, PIN - 695001
             BY ADVS.
             AJIT G ANJARLEKAR
             G.P.SHINOD
             GOVIND PADMANAABHAN
             ATUL MATHEWS
             GAYATHRI S.B.
RESPONDENTS:

     1       M/S. HDFC LTD
             REPRESENTED BY ITS AUTHORISED OFFICER, MR SIVAKUMAR S,
             HDFC LTD, HDFC HOUSE, P.B NO: 2288, VAZHUTHACAUD,
             THIRUVANANTHAPURAM DISTRICT, PIN - 695010
     2       THE MANAGER
             M/S HDFC LTD, VAZHUTACAUD BRANCH, VAZHUTHACAUD,
             THIRUVANANTHAPURAM DISTRICT, PIN - 695010

             BY ADVS.
             AMBILY S
             RUPA R. NAIR(K/001021/2023)
             RUBAN JOE TONIYO(K/002926/2022)
             K.K.CHANDRAN PILLAI (SR.)(C-41)
             MATHEW JOSEPH BALUMMEL(K/001219/2019)
             SMT. K M RESHMI - SR.GOVERNMENT PLEADER
    THIS    WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
14.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
  W.P.(C) No.26448 OF 2023

                                   2




                             JUDGMENT

Dated this the 14th day of August, 2023

The petitioners availed a housing loan for an amount of

Rs.14,00,000/- with a repayment tenure of 15 years. The

petitioners would submit that substantial payments have been

made, but due to certain personal reasons, the loan account fell

into arrears.

2. The respondents initiated proceedings under the

SARFAESI Act. The respondents filed M.C. No.508 of 2023

before the Chief Judicial Magistrate's Court, Thiruvananthapuram

invoking Section 14(1) of the SARFAESI Act. The Chief Judicial

Magistrate has appointed an Advocate Commissioner for taking

possession of the petitioners' property.

3. The petitioners would submit that the petitioners

have been prompt in repaying the amount and if the W.P.(C) No.26448 OF 2023

outstanding amount is negligible and if the petitioners are given

12 months time to pay in equal monthly installments, the

petitioners will be able to clear the overdue arrears.

4. The Standing Counsel entered appearance and

resisted the writ petition. The Standing Counsel pointed out

that the petitioners were consistently making default in the

payment. The petitioners were required to clear the amounts

promptly. However, the petitioners did not care. It was in these

circumstances that the bank had to initiate SARFAESI

proceedings. The petitioners did not clear the arrears still. It is

only after the Advocate Commissioner was appointed that the

petitioners are before this Court.

5. The respondents submitted that the overdue

outstanding arrear is Rs.1,53,156/- as on 10.08.2023. Taking

into consideration the difficulties advanced by the petitioners, a

very short breathing time can be granted to the petitioners for

clearing the overdue amounts.

W.P.(C) No.26448 OF 2023

In view of the above, the writ petition is disposed of with

the following directions : -

i. The petitioners shall repay the overdue

amount including accrued interest in 8 Equal and

consecutive Monthly Installments. The 1 st installment

shall be paid on or before 15.09.2023.

ii. In case the petitioners fail to make monthly

payments as directed above, the respondents will be at

liberty to go ahead with the SARFAESI proceedings.