Kerala High Court
George Jacob vs Shriram Finance Limited on 12 April, 2024
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
FRIDAY, THE 12TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946
WP(C) NO. 13606 OF 2024
PETITIONER:
GEORGE JACOB, AGED 48 YEARS
SON OF JACOB, KOCHUPARAMBIL (H), THIDANADU P. O.,
KOTTAYAM, KERALA, PIN - 686123
BY ADV LUKE J CHIRAYIL
RESPONDENTS:
1 SHRIRAM FINANCE LIMITED
FORMERLY KNOWN AS SHRIRAM TRANSPORT FINANCE CO. LTD,
MALL 90 DEGREE, GROUND FLOOR, OPP. KSEB, PONKUNNAM,
KANJIRAPPALLY, KOTTAYAM, KERALA, REPRESENTED BY ITS
POWER OF ATTORNEY HOLDER MR. BENNY PRABHAKARAN, AGED 37
YEARS, S/O. PRABHAKARAN, NAVANEETHAM, KARAKKADU P. O,
CHENGANNUR, ALAPPUZHA DISTRICT, KERALA, PIN - 689504
2 ANSARI K. A., AGED 55 YEARS
SON OF ABUL RAHMAN, KAYIPLACKAL(H), NACHIPARAMBU P. O.,
KANJIRAPPALLY KOTTAYAM DISTRICT, KERALA, PIN - 686507
3 SAUDHA P. S., AGED 53 YEARS
DAUGHTER OF SAITHU MUHAMMED, KANNUPARAMBIL (H),
KANJIRAPPALLY P. O., KOTTAYAM DISTRICT, KERALA - 686507
SRI.C.HARIKUMAR, FOR R1
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 13606 OF 2024
2
JUDGMENT
The petitioner concedes that he had availed of a loan
facility from the first respondent and that there was a default in
payment thereon, which led him to obtain Ext.P1 order under the
provisions of the Arbitration and Conciliation Act. He says that
an Advocate Commissioner has subsequently issued him Ext.P2,
pursuant to which the vehicle purchased by him with the loan
assistance has been taken repossession; and therefore, that he is
constrained to approach this Court, because he is willing to pay
off the entire overdue in the loan account without any avoidable
delay, but in instalments.
2. In response to the afore request of the petitioner, as
made by his learned counsel Sri.Luke J.Chirayil, the learned
standing counsel for the first respondent - Sri.C.Harikumar,
Submitted that the overdue in the loan account of the petitioner
is Rs.1,16,218/- as on 12.04.2024; and that he can be allowed to
pay this amount in lump sum on or before 30.5.2024. He
submitted that if this is done and the petitioner continues to pay
the regular EMIs, the account will be regularised and the vehicle
will be returned to him.
3. The learned counsel for the petitioner submitted that his
client will accede to the afore suggestions fully.
WP(C) NO. 13606 OF 2024
4. In the afore circumstances, this writ petition is allowed,
directing the petitioner to pay an amount of Rs.1,16,218/- which
is an overdue as on 12.04.2024, along with all applicable charges
and interest, not later than 30.05.2024.
5. If the afore is done, then the first respondent will take
steps to terminate CMA (Arb) No.46/2004 before the District
Court, Kottayam and will simultaneously return the vehicle to the
petitioner; however, on condition that it will keep in good
condition without causing any damage to it or creating
encumbrance on it as long as the loan is in force.
The petitioner will also pay the regular EMIs along with the
afore and should he default either the payment in terms of the
afore directions or two consecutive EMIs, then the first
respondent will be at full liberty to initiate further recovery
action in terms of law falling due procedure but without having to
obtain any further orders from this Court.
Sd/- DEVAN RAMACHANDRAN
JUDGE
stu
WP(C) NO. 13606 OF 2024
APPENDIX OF WP(C) 13606/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE PETITION NUMBERED AS C.M.A
(ARB) NO. 46 OF 2024 ON THE FILES THE
BEHALF OF HONORABLE DISTRICT COURT,
KOTTAYAM.
Exhibit P2 TRUE COPY OF THE ADVOCATE COMMISSIONER
NOTICE DATED 01.01.2024 ISSUED BY ANIBEN
T.V, ADVOCATE COMMISSIONER, IN C.M.A (ARB)
NO. 46 OF 2024 ON THE FILES OF THE
HONORABLE DISTRICT COURT, KOTTAYAM IN THE
NAME OF PETITIONER HEREIN.
