Kerala High Court
Sajeev B vs Authorised Officer on 22 June, 2023
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WP(C) No.2108 of 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
THURSDAY, THE 22ND DAY OF JUNE 2023 / 1ST ASHADHA, 1945
WP(C) NO. 2108 OF 2022
PETITIONER/S:
1 SAJEEV B,AGED 45 YEARS
S/O. BALAN, SAJEEV BHAVANAM, VETTIYAR.P.O.,
MANKAMKUZHY, ALAPPUZHA-690 558
2 GRISHA,AGED 42 YEARS
w/O. SAJEEV, SAJEEV BHAVANAM, VETTIYAR.P.O.,
MANKAMKUZHY, ALAPPUZHA-690 558
BY ADVS.
RAGHUL SUDHEESH
K.J.GLAXON
C.R.SUDHEESH
J.LAKSHMI
A.L.KRISHNA PRIYA
RESPONDENT/S:
1 AUTHORISED OFFICER
MAHINDRA RURAL HOUSING FINANCE LIMITED, 3RD FLOOR,
BLDG NO.631/A41, AMBADY TOWERS, POOKKATTUPADY ROAD,
EDAPPALLY TOLL, ERNAKULAM-682 024
2 MAHINDRA RURAL HOUSING FINANCE LIMITED,
REPRESENTED BY ITS MANAGER & AUTHORIZED OFFICER, 3RD
FLOOR, BLDG NO.631/A41, AMBADY TOWERS, POOKKATTUPADY
ROAD, EDAPPALLY TOLL, ERNAKULAM-682 024
BY ADVS.
K.BIJU
M.A.JOSEPH MANAVALAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C) No.2108 of 2022
C.S DIAS,J.
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WP(C) No.2108 of 2022
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Dated this the 22nd day of June, 2023 .
JUDGMENT
The writ petition is filed to direct the respondents to
permit the petitioners to pay off the outstanding amount
in equated monthly instalments.
2. The petitioners' case is that they had availed a
housing loan from the second respondent - Bank - by
creating an equitable mortgage. Due to unforeseen
circumstances, they could not pay the instalments on
time. The Bank has initiated proceedings against the
secured asset under the Securitization and
Reconstruction of Financial Assets and Enforcement of
Security Interest Act (in short, 'Act'). The petitioners
WP(C) No.2108 of 2022
are prepared to pay the outstanding amount in equated
monthly instalments. Hence, the writ petition.
3. Heard; Sri.C.R Sudheesh, the learned counsel
appearing for the petitioner and Sri.K.Biju, the learned
counsel appearing for the respondents.
4. Sri.K.Biju, on instructions, submitted that as on
22.6.2023, the outstanding amount is Rs.7,93,128/-.
The respondents are willing to permit the petitioners to
pay the above outstanding amount in six equated
monthly instalments. The said submission is recorded.
5. The learned counsel appearing for the
petitioners submitted that the petitioners are ready to
accept the above offer.
6. Having considered the pleadings and materials
on record, the submissions made by the learned counsel
WP(C) No.2108 of 2022
appearing for the parties, the consensus arrived at
between the parties and to provide the petitioners one
last opportunity to clear off the liability, I am inclined to
exercise the powers of this Court under Article 226 of
the Constitution of India and entertain the writ petition.
Resultantly, I dispose of the writ petition in the
following manner:
(i) The respondents are directed to defer further
coercive proceedings pursuant to Exts P1 and P2, to
enable the petitioners to pay the liability in equated
monthly instalments as stated below.
(ii) The petitioners are permitted to pay the
outstanding amount as stated above with future interest
and cost to the second respondent - Bank - in six
WP(C) No.2108 of 2022
equated monthly instalments commencing from
22.7.2023.
(iii) Needless to mention, if the petitioners commit
default in any of the conditions ordered above, the
petitioners 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/-
sks/22.6.2023 C.S.DIAS, JUDGE
WP(C) No.2108 of 2022
APPENDIX OF WP(C) 2108/2022
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE MC NO.98/2020 FILED BY THE
1ST RESPONDENT BEFORE THE HON'BLE COURT of
CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA
Exhibit P2 TRUE COPY OF THE ORDER OF THE HON'BLE COURT
OF CHIEF JUDICIAL MAGISTRATE , ALAPUZHA
DATED 06.03.2020 IN MC NO.98/2020
