Mr. Joe Paul vs Authorized Officer
2023 Latest Caselaw 13524 Ker

Kerala High Court

Mr. Joe Paul vs Authorized Officer on 21 December, 2023

Author: N.Nagaresh

Bench: N.Nagaresh

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                             PRESENT
               THE HONOURABLE MR.JUSTICE N.NAGARESH
THURSDAY, THE 21ST DAY OF DECEMBER 2023 / 30TH AGRAHAYANA, 1945
                     WP(C) NO. 36836 OF 2023
PETITIONERS:

    1     MR. JOE PAUL, AGED 58 YEARS
          S/O. V.J. PAUL, VITHAYATHIL HOUSE,
          NEAR MANNAMTHURUTH SCHOOL, VARAPUZHA,
          ERNAKULAM, KERALA, PIN - 683517
    2     MR. GIGI JOE, AGED 54 YEARS
          W/O. JOE PAUL, VITHAYATHIL HOUSE,
          NEAR MANNAMTHURUTH SCHOOL, VARAPUZHA,
          ERNAKULAM, KERALA, PIN - 683517

          BY ADVS.
               BHARATH MURALI
               SAJIKUMAR.K.K.
               MANU NAIR G.
               AJAY SANKAR
RESPONDENTS:

    1     AUTHORIZED OFFICER,
          INDUSLND BANK, REGIONAL OFFICE,
          CONSUMER FINANCE DIVISION, OLD NO.115, 116, NEW
          NO.34, G.N CHETTY ROAD, T. NAGAR, CHENNAI - 600017
    2     AUTHORIZED OFFICER,
          EDELWEISS ASSET RECONSTRUCTION COMPANY LTD,
          EDELWIESS HOUSE, WINDSOR LN,
          KOLIVERY VILLAGE, MMRDA AREA, KALINA,
          SANTACRUZ EAST, MUMBAI, MAHARASHTRA, PIN - 400098

          BY ADVS.
               RENJITH.R NAIR
               ANJU MOHAN(K/916-D/2000)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No.36836 of 2023


                                  2


                            JUDGMENT

Dated this the 21st day of December, 2023

The petitioners have approached this Court seeking the

following reliefs:

(i) To issue a writ of certiorari or other appropriate writ or order quashing Ext.P3.

(ii) Issue a writ of mandamus or other appropriate writ or order or direction, directing the respondents to permit the petitioners to regularize the loan account after deducting penal interest and hidden charges.

(iii) Issue a writ of mandamus or other appropriate writ or order or direction, directing the respondents to permit the petitioners to pay the overdue amount in convenient monthly instalments after deducting penal interest and hidden charges.

2. Standing Counsel for the 1st respondent submitted

that the secured asset of the petitioner is already handed over

to the 2nd respondent-Asset Reconstruction Company and any

settlement can be arrived at only by the petitioners with the 2nd

respondent-Company.

3. The petitioners would submit that the petitioners

prefer to make a One Time Settlement offer to the

2nd respondent-Company and wish to clear the entire

outstanding at one go.

4. Standing Counsel for the 2nd respondent submits

that one of the proposals earlier made by the petitioners for

One Time Settlement was rejected as the proposal was not at

all attractive. However, if the petitioners make a concrete

attractive proposal for One Time Settlement, the same can be

considered in accordance with law.

Taking into consideration the afore facts, the writ petition

is disposed of directing that if the petitioners make a fresh

proposal for One Time Settlement within a period of two

weeks from today, the 2nd respondent-Asset Reconstruction

Company shall consider the same and take appropriate

decision thereon in accordance with law. If the petitioners

make an application within a period of two weeks as directed

above, coercive proceedings, if any, against the petitioner

shall stand deferred till the 2nd respondent takes a final

decision on the proposal.

Sd/-

N.NAGARESH JUDGE spk

APPENDIX OF WP(C) 36836/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE SUMMARY OF LOAN A/C.NO. ESO00241N Exhibit P2 TRUE COPY OF THE SUMMARY OF LOAN A/C.NO. ESO00131N Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 18.08.2023