Abhilash Ramachandran Chettiyar vs Hdfc Bank Limited
2023 Latest Caselaw 1018 Ker

                      IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                      PRESENT

                       THE HONOURABLE MR. JUSTICE GOPINATH P.

              TUESDAY, THE 17TH DAY OF JANUARY 2023 / 27TH POUSHA, 1944

                               WP(C) NO. 1002 OF 2023

PETITIONER:

               ABHILASH RAMACHANDRAN CHETTIYAR
               AGED 46 YEARS
               S/O. RAMACHANDRAN CHETTIYAR,
               RAM NIVAS,643A (21/118), CHERAVALLY,
               KAYANKULAM P.O., ALLEPPEY, KERALA, PIN - 690502
               BY ADVS.
               RINNY STEPHEN CHAMAPARAMPIL
               ASHA ELIZABETH MATHEW
               ANJANA S.


RESPONDENTS:

     1         HDFC BANK LIMITED
               REPRESENTED BY ITS MANAGER,
               KANNUR BRANCH,
               KVR TOWERS, SOUTH BAZAAR,
               KANNUR - 670 002, PIN - 670002
     2         THE AUTHORIZED OFFICER
               HDFC BANK LTD., KVR TOWERS,
               SOUTH BAZAAR, KANNUR, PIN - 670002
               BY ADVS.
               SATHISAN P.
               DONA AUGUSTINE(K/180/2016)



      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
17.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P. (C) No. 1002 of 2023
                                   ..2..




                            JUDGMENT

The petitioner availed a personal loan from the 1st

respondent bank. On default being committed, proceedings

have been initiated against the petitioner under the

provisions of the SARFAESI Act to recover amounts due

from the petitioner. The petitioner, therefore, filed this Writ

Petition stating that the petitioner is willing to clear the

liability in instalments and the petitioner may be permitted

to regularize the loan account by paying the overdue

amounts.

2. The learned counsel appearing for the respondent

bank submits that the proceedings have already been

initiated against the petitioner under Section 14 of the

SARFAESI Act and the petitioner may be required to pay the

outstanding amount in instalments . It is submitted that the

outstanding amount as on 12.01.2023 is Rs.19,51,074/-,

while the overdue amount as on 16.01.2023 is

Rs.7,47,254/-. It is submitted that the respondent bank has W.P. (C) No. 1002 of 2023 ..3..

no objection in accepting the outstanding amount in some

instalments.

3. Having heard the learned counsel appearing for the

petitioner and the learned counsel appearing for the

respondent bank, I am of the view that since the bank has

not recalled the loan and has not initiated proceedings by

filing a commercial suit or other legal proceedings (the

matter is not liable to be considered by the Debts Recovery

Tribunal as the amount of debt is less than Rs.20,00,000/-),

the account of the petitioner can be regularized if the

petitioner pays the overdue amounts in some instalments

and also pays the regular EMIs without default on the due

dates.

4. Accordingly, this Writ Petition will stand disposed of

permitting the petitioner to pay the overdue amount of

Rs.7,47,254/- in eight instalments on the following

conditions:-

(i) The overdue amount of Rs.7,47,254/- together W.P. (C) No. 1002 of 2023 ..4..

with any accrued interest and charges shall be

repaid in eight (8) equated monthly instalments.

(ii) The first instalment shall be paid on or before

10.02.2023 and the subsequent instalments shall

be paid on the 10th day of every succeeding

month.

(iii) Petitioner shall continue to pay the regular EMI's

along with the instalments directed above.

(iv) In the event of default of any one instalment, the

respondent bank shall be entitled to proceed in

accordance with law.

(v) In order to enable the petitioner to repay the

entire amounts, all coercive proceedings shall be

kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE RMV W.P. (C) No. 1002 of 2023 ..5..

APPENDIX OF WP(C) 1002/2023

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 22/04/2022 ISSUED BY THE 2 ND RESPONDENT TO THE PETITIONER Exhibit P2 A TRUE COPY OF THE NOTICE DATED 05/01/2023 ISSUED BY THE ADVOCATE COMMISSIONER IN M.C.NO. 738/2022 OF CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE