Anitha vs Authorized Officer (Under ...
2023 Latest Caselaw 6535 Ker

                   IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                     THE HONOURABLE MR.JUSTICE C.S.DIAS
         TUESDAY, THE 13TH DAY OF JUNE 2023 / 23RD JYAISHTA, 1945
                           WP(C) NO. 18958 OF 2023
PETITIONERS:

     1      ANITHA,
            AGED 55 YEARS
            W/O. SUMALI, RESIDING AT PUTHUVALNIKARTHU,
            VAYALAR, CHERTHALA, ALAPPUZHA, PIN - 688524
     2      SUMALI
            AGED 66 YEARS
            S/O PADMANABHAN, RESIDING AT PUTHUVALNIKARTHU,
            VAYALAR, CHERTHALA, ALAPPUZHA, PIN - 688524
            BY ADVS.
            R.N.SANDEEP
            B.MUHAMMED SHAHEEL
            KEERTHI VIJAYAN

RESPONDENTS:

     1      AUTHORIZED OFFICER (UNDER SARFEASI ACT),
            AADHAR HOUSING FINANCE LTD
            DOOR NO 62/4783, RAMALEELA, 1ST FLOOR,
            MAHAKAVI G ROAD, IYYATTIL JN.,
            ERNAKULAM, PIN - 682011
     2      AADHAR HOUSING FINANCE LTD.,
            REPRESENTED BY ITS MANAGER
            DOOR NO 62/4783, RAMALEELA, 1ST FLOOR,
            MAHAKAVI G ROAD, IYYATTIL JN.,
            ERNAKULAM, PIN - 682011
            BY ADVS.
            SRI.A.SURESH
            RASSAL JANARDHANAN A.(K/000960/2018)
            THAREEQ ANVER K.(K/000942/2018)
            GOVIND G. NAIR(K/001627/2018)

     THIS   WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
13.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.18958 of 2023
                                    2




                             C.S.DIAS, J.
                -------------------------
                       W.P.(C.) No.18958 of 2023
                -------------------------
            Dated this the 13th day of June, 2023

                             JUDGMENT

The writ petition is filed to direct the first

respondent to permit the petitioners to pay off the

outstanding amount in equated monthly

instalments.

2. The petitioners' case is that, they had

availed financial assistance from the second

respondent institution by creating an equitable

mortgage. Due to reasons beyond their control,

they could not pay the instalments on time. The

respondents have now proceeded against the

secured asset under the Securitisation and

Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 (in WPC No.18958 of 2023

short 'Act'). The petitioners are now prepared to

pay the outstanding amount in instalments.

Hence, the writ petition.

3. Heard; Sri.R.N.Sandeep, the learned

Counsel appearing for the petitioners and

Sri.Suresh A., the learned Counsel appearing for

the respondents.

4. Sri.Suresh A., on instructions, submitted

that the outstanding amount as on today is

Rs.16,27,023/-. The respondents are willing to

permit the petitioners to pay the outstanding

amount in six instalments. The said submission is

recorded.

5. The learned Counsel appearing for the

petitioners submitted that as the petitioners are

coolie workers and they are making every

endeavour to liquidate the loan account, they may

be granted atleast twelve instalments to pay off

the outstanding amount.

WPC No.18958 of 2023

6. Having considered the pleadings and

materials on record and the submission made by

the learned counsel appearing for the parties, to

provide the petitioner one last opportunity to pay

off the loan amount, I am inclined to exercise the

powers of this Court under Article 226 of the

Constitution of India and dispose of the writ

petition.

Resultantly, I dispose of the writ petition in

the following manner:

(i) The respondents are directed to defer

further proceedings pursuant to Ext.P1, to enable

the petitioners to pay off the outstanding amount

in instalments.

(ii) The petitioners are permitted to pay the

outstanding amount as state above with future

interest and costs to the 2nd respondent financial

institution in ten equated monthly instalments WPC No.18958 of 2023

commencing from 13.07.2023.

(iii) Needless to mention, if the petitioners

commits default of the condition ordered above,

they 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/13-06 WPC No.18958 of 2023

APPENDIX OF WP(C) 18958/2023

PETITIONER'S EXHIBITS:

EXHIBIT P1 THE 1ST RESPONDENT ISSUED POSSESSION NOTICE UNDER SECTION 13(4) OF THE ACT FOR TAKING POSSESSION OF SECURED ASSET. NOTICE DATED 06/08/2021 ISSUED UNDER SECTION 13(4) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE