Saranraj vs Authorized Officer
2023 Latest Caselaw 3863 Ker

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                   THE HONOURABLE MR. JUSTICE T.R.RAVI
         THURSDAY, THE 30TH DAY OF MARCH 2023 / 9TH CHAITHRA, 1945
                         WP(C) NO. 35265 OF 2022
PETITIONER:

              SARANRAJ
              AGED 32 YEARS
              S/O RAJAN, THIRIKKALI HOUSE, KIZHAKKUMPURAM POST,
              MANNUR, PALAKKAD DISTRICT, PIN - 678642.

              BY ADVS.
              RAJESH SIVARAMANKUTTY
              VIJINA K.
              ARUL MURALIDHARAN


RESPONDENTS:

     1        AUTHORIZED OFFICER
              MANAPPURAM HOME FINANCE LTD, (AUTHORIZED OFFICER UNDER
              SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND
              ENFORCEMENT OF SECURITY INTEREST ACT), 10/259,
              SREEKRISHNA TOWERS, ABOVE KARUR VYSYA BANK, VELLAN
              STREET, NEAR CANARA BANK, SULTHANPET, PALAKKAD,
              PIN - 678001.
     2        BRANCH MANAGER
              MANAPPURAM HOME FINANCE LTD, 10/259, SREEKRISHNA TOWERS,
              ABOVE KARUR VYSYA BANK, VELLAN STREET, NEAR CANARA BANK,
              SULTHANPET, PALAKKAD, PIN - 678001.

              BY ADVS.
              C.HARIKUMAR
              SANDRA SUNNY(K/926/2020)
              ARUN KUMAR M.A(K/1197/2021)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.03.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 35265 OF 2022

                                       2

                                 T.R. RAVI, J.
                 --------------------------------------------
                       W.P.(C) No.35265 of 2022
                     --------------------------------------------
                Dated this the 30th day of March, 2023

                                JUDGMENT

The prayer in the writ petition is to permit the petitioner to

pay off the overdue amounts in the loan account availed from the

respondents in easy instalments and to regularise the loan

account. The Standing Counsel on instructions submits that the

overdue amount is Rs.5,97,877/-.

In the above circumstances, the writ petition is disposed of

directing the petitioner to pay off the overdue amount of

Rs.5,97,877/- in 12 equal monthly instalments, the first

instalment falling due on or before 30.04.2023 and the

subsequent instalments falling due on or before the 30 th of the

succeeding months. The petitioner shall also pay the regular

monthly instalments along with the instalments towards the

overdue amount as stated above. If the petitioner pays the entire

overdue amount, the respondents shall regularise the loan WP(C) NO. 35265 OF 2022

account. If the petitioner makes two defaults in the payment of

instalments, the respondents will be at liberty to continue with

coercive steps for recovery. The coercive steps initiated shall be

kept in abeyance to facilitate the payment of instalments as

directed above.

Sd/-

T.R.RAVI JUDGE mpm WP(C) NO. 35265 OF 2022

APPENDIX OF WP(C) 35265/2022

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF THE CERTIFIED COPY OF THE ORDER IN M.C. NO.120/2022 DATED 21-7-2022.