K.V Manoj vs Authorised Officer
2023 Latest Caselaw 10572 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR.JUSTICE K. BABU
MONDAY, THE 16TH DAY OF OCTOBER 2023 / 24TH ASWINA, 1945
                       WP(C) NO. 34022 OF 2023
PETITIONER/S:

               K.V MANOJ
               AGED 52 YEARS
               S/O. VELAYUDHAN, KALLIYIL HOUSE, AYYAPATH ROAD,
               CHOWNNUR P.O, THALAPPILLY TALUK, THRISSUR DIST
               THRISSUR DISTRICT,, PIN - 680517
               BY ADVS.
               T.A.SHAIN
               RADHAKRISHNA PILLAI.G.


RESPONDENT/S:

    1          AUTHORISED OFFICER
               REPCO HOME FINANCE LTD, CORPORATE OFFICE,
               ANDATHODE SQUARE NO.2, 3RD FLOOR SARDAR PATEL
               ROAD, CHENNAI, PIN - 600032
    2          MANAGER REPCO HOME FINANCE LTD
               1ST FLOOR, DEE PEE PLAZA T.B ROAD KOKKALAI,
               THRISSUR, PIN - 680021
               BY SRI DEVAPRASANTH P.J.
        THIS    WRIT   PETITION    (CIVIL)   HAVING   COME    UP    FOR
ADMISSION       ON   16.10.2023,   THE   COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.34022 of 2023
                                      ..2..




                                K.BABU, J.
                   -------------------------------------------
                     W.P.(C) No.34022 of 2023
                  ---------------------------------------------
             Dated this the 16th day of October, 2023

                               JUDGMENT

The prayers in this Writ Petition filed under Article

226 of the Constitution of India are as follows:-

"1. Issue a writ of Certiorari or any other appropriate writ or order quashing exhibit P1 E Auction Sale notice of Authorized officer as illegal and unsustainable.

2. Issue a writ of mandamus or any other appropriate writ or order permitting petitioner to remit the arrears award amount in 20 equal monthly installments, and the future installments on the respective dates. And

3. Issue such other appropriate writ or order which is deemed just and necessary on the fact and circumstances of the case."

2. Heard both sides.

3. Upon instructions, the learned Standing Counsel

for the respondent Bank submitted that the total amount

due to the bank is Rs.20,15,715/- as on 02.08.2023 and

that the Bank is agreeable to permit the petitioner to

remit the amount due in instalments if he is prepared to

remit Rs.4,00,000/- on or before 31.10.2023. W.P.(C) No.34022 of 2023 ..3..

4. The learned counsel for the petitioner submits

that the petitioner is agreeable to the above suggestion.

5. In the above circumstances, the Writ Petition is

disposed of with the following directions:-

(i) The petitioner shall remit Rs.4,00,000/- (Rupees Four Lakhs only) on or before 31.10.2023.

(ii) The petitioner shall remit the remaining amount due to the bank together with any accrued interest and charges in 15 equal monthly instalments.

(ii) The first instalment out of the remaining amount shall be paid on or before 30.11.2023 and the subsequent instalments shall be paid on the last working day of every succeeding month.

(iii) The respondent Bank shall accept the loan amount from the petitioner as stated above.

(iv) In the event of default of payment of any one instalment, the respondent Bank is entitled to proceed in accordance with law.

W.P.(C) No.34022 of 2023 ..4..

(v) The proceedings initiated under the SARFAESI Act against the petitioner shall be kept in abeyance to facilitate repayment as stated above.

K.BABU JUDGE kkj W.P.(C) No.34022 of 2023 ..5..

APPENDIX OF WP(C) 34022/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE E-AUCTION SALE NOTICE DATED 03.08.2023