Mujeeb Rahman P.H vs Piramal Capital And Housing Finance Ltd
2023 Latest Caselaw 13257 Ker

Kerala High Court

Mujeeb Rahman P.H vs Piramal Capital And Housing Finance Ltd on 15 December, 2023

Author: N.Nagaresh

Bench: N.Nagaresh

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                   PRESENT
                   THE HONOURABLE MR.JUSTICE N.NAGARESH
    FRIDAY, THE 15TH DAY OF DECEMBER 2023 / 24TH AGRAHAYANA, 1945
                         WP(C) NO. 42187 OF 2023
PETITIONER:

              MUJEEB RAHMAN P.H.
              AGED 37 YEARS
              10/564-C, PEARL GARDEN, PUKATTUPADY,
              ALUVA, ERNAKULAM, PIN - 638561

              BY ADV ANILA UMESH


RESPONDENTS:

     1        PIRAMAL CAPITAL AND HOUSING FINANCE LTD,
              FORMERLY KNOWN AS DEWAN HOUSING FINANCE CORPORATION LTD,
              HAVING REGISTERED OFFICE AT UNIT NO. 601,
              6TH FLOOR, PIRAMAL AMITI BUILDING,
              PIRAMAL AGASTHYA CORPORATE PARK, KAMANI JUNCTION,
              OPP. FIRE STATION, LBS MARG,
              KURLA (WEST), MUMBAI-40070,
              HAVING BRANCH OFFICE AT DHFL,
              PIRAMAL CAPITAL AND HOUSING FINANCE LTD,
              1ST FLOOR, KMM BUILDING, PALARIVATTOM,
              KOCHI- REPRESENTED BY ITS AUTHORIZED OFFICER.,
              PIN - 682025
     2        AUTHORISED OFFICER UNDER SARFAESI ACT,2002 ,
              M/S. PIRAMAL CAPITAL AND HOUSING FINANCE LTD,
              5TH FLOOR, SL PLAZA, PALARIVATTOM,
              ERNAKULAM DISTRICT, PIN - 682025

              SRI.P.PAULOCHAN ANTONY-R1


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.42187 Of 2023
                                2




                           JUDGMENT

Dated this the 15th day of December, 2023

The petitioner is the purchaser of property bid in

e-auction conducted by the 1st respondent-Financial Institution.

The bid amount was ₹75,30,000/-. The petitioner remitted 25%

of the bid amount after the sale. Thereafter, the petitioner

remitted an amount of ₹9 lakhs. The petitioner thus paid a total

amount of ₹27,75,000/-.

2. The petitioner had to remit the balance amount of

₹47,55,000/- within a stipulated period. The petitioner could not

pay the amount within three months. The petitioner would,

however, claim that the petitioner should have the benefit of

extended time for payment. Now, the respondents have

unilaterally decided to put the property for auction again. It is in

such circumstances that the petitioner has filed this writ petition

seeking to consider Ext.P7 representation and permit the

petitioner to remit the balance amount. The petitioner seeks to WP(C) NO.42187 Of 2023

quash Exts.P3 and P5 communications of forfeiture.

3. Standing Counsel entered appearance on behalf of

the respondents and resisted the writ petition. The Standing

Counsel submitted that the petitioner could not pay the balance

amount within the statutory period. In the circumstances, the

sale cannot be concluded in favour of the petitioner by

executing any Sale Certificate. The Standing Counsel relied on

Rule 9 of the Security Interest (Enforcement) Rules, 2002 to

urge the point.

4. I have heard the learned counsel for the petitioner

and the learned Standing Counsel representing the

respondents.

5. It is evident from the pleadings that the petitioner

has not paid the amount within the stipulated three months

period. The Standing Counsel would submit that the

respondents will retain the amount paid by the petitioner and

permit the petitioner to participate in the next auction process WP(C) NO.42187 Of 2023

and if there is any short fall in the re-auction, such amount of

short fall will be adjusted from the money paid by the petitioner

and balance, if any, found will be paid to the petitioner. The

Standing Counsel also submits that the petitioner will also be

permitted to participate in the re-auction as and when

conducted as per Rules.

In the afore view of the facts, the writ petition is disposed

of permitting the respondents to retain the money paid by the

petitioner till the re-auction of the property in question. After the

re-auction, the money refundable to the petitioner will be paid

after adjusting the short fall, if any. The respondents are

directed that if the petitioner comes forward for bidding in the

re-auction, the petitioner shall be permitted to participate in the

auction. The petitioner shall also be issued a notice of auction.

Sd/-

N.NAGARESH JUDGE hmh WP(C) NO.42187 Of 2023

APPENDIX OF WP(C) 42187/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE E-AUCTION NOTIFICATION ISSUED BY THE RESPONDENT DATED 9.8.2023 Exhibit P2 TRUE COPY OF THE SALE CONFIRMATION LETTER ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 31.8.2023 Exhibit P3 TRUE COPY OF THE LETTER OF FORFEITURE ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 1.12.2023 Exhibit P4 TRUE COPY OF THE REPRESENTATION MADE BY THE PETITIONER BEFORE THE RESPONDENT DATED 6.12.2023 Exhibit P5 TRUE COPY OF THE LETTER OF REFUSAL ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 7.12.2023 Exhibit P6 TRUE COPY OF THE DISCHARGE SUMMARY OF MR. ABDULLAH, PATERNAL UNCLE OF PETITIONER ON 1.12.2023 FROM ST. MARY'S HOSPITAL THODUPUZHA Exhibit P7 TRUE COPY OF THE REPRESENTATION MADE BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 11.12.2023