Anil Kumar vs 1. Sundaram Home Finance Limited
2023 Latest Caselaw 5589 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
            THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
         FRIDAY, THE 12TH DAY OF MAY 2023 / 22ND VAISAKHA, 1945
                        WP(C) NO. 15753 OF 2023
PETITIONERS:

     1      ANIL KUMAR
            AGED 44 YEARS
            S/O. SUBRAMANIAN PULLANIKOTTIL HOUSE,
            PATTAMBI PALLIPURAM ROAD, PERUMUDIYOOR P.O.,
            PALAKKAD DISTRICT, PIN - 679303
     2      SARIKA KP
            W/O. ANIL KUMAR, PULLANIKOTTIL HOUSE, PATTAMBI,
            PALLIPURAM ROAD, PERUMUDIYOOR P.O., PALAKKAD DISTRICT,
            PIN - 679303
            BY ADV K.ARJUN VENUGOPAL


RESPONDENTS:

     1      1. SUNDARAM HOME FINANCE LIMITED
            REPRESENTED BY ITS GENERAL MANAGER, PALAKKAD BRANCH,
            1ST FLOOR, ARAVIND ARCADE, COIMBATORE ROAD,
            KUNNATHURMEDU POST, KALMANDAPAM, PALAKKAD., PIN - 678013
     2      AUTHOIZED OFFICER
            SUNDARAM HOME FINANCE LIMITED 1ST FLOOR, ARAVIND ARCADE,
            COIMBATORE ROAD, KUNNATHURMEDU POST, KALMANDAPAM,
            PALAKKAD, PIN - 678013
            BY ADV AMBILY S


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO.15753 OF 2023
                                   2




                                JUDGMENT

The petitioners have availed a loan from the

respondent financial institution in the year 2013.

Since the petitioners committed default in repayment,

the respondents initiated steps under the SARFAESI

Act and Ext.P2 is the notice issued by the Advocate

Commissioner, informing the petitioners that the

secured assets will be taken possession of, on

12.05.2023. Aggrieved by the same, the petitioners

have filed this writ petition.

2. When the matter is taken up for

consideration, the learned Standing Counsel for the

respondent bank submits, on instructions, that the

overdue amount as on today comes to Rs.1,90,056/-

and the respondents are willing to regularise the

account, provided the petitioners clear off the WP(C) NO.15753 OF 2023

overdue amount in ten equated monthly instalments

along with regular EMIs.

3. On the basis of the submission made by the

learned Standing Counsel for the respondent bank as

well as the learned counsel for the petitioners, I am of

the view that the petitioners can be granted an

opportunity to repay the overdue amount in

instalments and thereafter, if the amount is repaid

within the time as directed above, to have the loan

account regularised.

4. Accordingly, there will be a direction to the

petitioners to clear off the entire overdue amount of

Rs.1,90,056/- (Rupees One lakh ninety thousand and

fifty six) in ten equated monthly installments,

commencing from 31.05.2023, along with regular EMI.

In case the petitioners default payment of any one of

the installments as aforesaid, the respondents will be WP(C) NO.15753 OF 2023

free to proceed with, in accordance with law. In order

to enable the petitioners to repay the amounts as

above, coercive steps shall be kept in abeyance.

The writ petition is disposed of as above.

sd/-

SHOBA ANNAMMA EAPEN JUDGE hmh WP(C) NO.15753 OF 2023

APPENDIX OF WP(C) 15753/2023

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF NOTICE DATED 29.12.2022 ISSUED BY THE RESPONDENT BANK UNDER SECTION 13(4) OF THE SARFAESI ACT, 2002.

Exhibit P2 TRUE COPY OF THE NOTICE MEMO DATED 03.05.2023 GIVEN BY THE ADVOCATE COMMISSIONER.

RESPONDENT'S EXHIBITS : NIL