Muhammed Hashim Ph vs Hdfc Bank Limited
2023 Latest Caselaw 11271 Ker

         IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
              THE HONOURABLE MR.JUSTICE N.NAGARESH
 FRIDAY, THE 27TH DAY OF OCTOBER 2023 / 5TH KARTHIKA, 1945
                    WP(C) NO. 29344 OF 2023
PETITIONER:

         MUHAMMED HASHIM PH,
         AGED 32 YEARS
         S/O HANEEFA P.A, POKKAKKILATH HOUSE,
         ARIYANNUR, ARIYANNUR MAZJID, KANDANASSERY,
         THRISSUR, PIN - 680102

         BY ADVS.
         S.MUMTAZ
         ALISHA ASLAM
         AMINA RUBY FAIZAL


RESPONDENTS:

         HDFC BANK LIMITED.,
         REPRESENTED BY THE AUTHORIZED OFFICER,
         D NO-25/1244A1, VATTEKKAT ARCADE,
         GROUND FLOOR, MARAR ROAD, THRISSUR, PIN - 680001

         SRI.PRADEESH CHACKO

     THIS WRIT PETITION       (CIVIL) HAVING    COME UP   FOR
ADMISSION ON 27.10.2023,      THE COURT ON     THE SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) No.29344 of 2023
                              2




                          JUDGMENT

Dated this the 27th day of October, 2023

The petitioner states that he has availed two loans of

₹48,50,000/- and ₹8,00,000/- from the respondent-Bank. The

remittances towards repayment were being made regularly.

However, due to Covid-19 pandemic, the petitioner suffered

financial loss and the loan repayment / Over Draft payment

went into arrears.

2. The respondent-Bank thereupon initiated

proceedings against the petitioner under the Securitisation

and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 and the petitioner was served with

a notice of the Advocate Commissioner appointed by the

Chief Judicial Magistrate's Court, Thrissur. The petitioner

states that the petitioner is ready and willing to clear the loan

amount in Installments and prays for 20 monthly Installments. WP(C) No.29344 of 2023

3. Standing Counsel entered appearance on behalf of

the respondent and resisted the writ petition. The Standing

Counsel submitted that what was granted to the petitioner was

an Over Draft facility in respect of which the present

outstanding would come to nearly ₹60 lakhs. The petitioner

has been persistently making default and it is in such

circumstances that the respondent-Bank was forced to initiate

coercive proceedings under the SARFAESI Act. It is

submitted that if the petitioner is making bulk payments, a

breathing time can be granted to the petitioner to clear the

dues.

4. Taking into consideration the afore facts, the writ

petition is disposed of with the following directions:

(i) The petitioner shall clear the entire

outstanding amount along with accruing interest, due

to the respondent, in six Equal Monthly Installments.

The first of such Installments shall be paid on or before

27.11.2023. The remaining five Installments shall be WP(C) No.29344 of 2023

paid in the next consecutive five months thereafter.

(ii) If the petitioner commits any default in

making payments as directed above, the respondents

will be at liberty to proceed against the petitioner in

accordance with law.

(iii) If the petitioner adheres to the afore time-

schedule for repayment, coercive proceedings, if any,

against the petitioner shall be deferred.

Sd/-

N.NAGARESH JUDGE spk WP(C) No.29344 of 2023

APPENDIX OF WP(C) 29344/2023

PETITIONER'S EXHIBITS

Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 07/01/2023 Exhibit P2 TRUE COPY OF THE DATELESS ADVOCATE COMMISSIONER NOTICE Exhibit P3 TRUE COPY OF THE REQUEST LETTER DATED 01/08/2023