Kerala High Court
Nibu Thomas vs Hdfc Bank Ltd Rep. By Its Authorized ... on 25 April, 2024
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE ZIYAD RAHMAN A.A.
THURSDAY, THE 25TH DAY OF APRIL 2024 / 5TH VAISAKHA, 1946
WP(C) NO. 16334 OF 2024
PETITIONER/S:
NIBU THOMAS
AGED 52 YEARS
S/O. THOMAS GEORGE, KOCHUPURACKAL, KALLUNGAL P.O.,
THIRUVALLA CURRENTLY WORKING IN UAE AND IS REPRESENTED
BY MRS. SUJADEVI AGED 49 YEARS, W/O. NIBU THOMAS
KOCHUPURACKAL, KALLUNGAL P.O., THIRVALLA,
PATHANAMTHITTA, PIN - 689102
BY ADV E.V.MOLY
RESPONDENT/S:
HDFC BANK LTD REP. BY ITS AUTHORIZED OFFICER
HDFC HOUSE. VAZHUTHACAUD POST BOX NO.2288, TAGORE
THEATRE ROAD, THIRUVANANTHAPURAM., PIN - 695010
OTHER PRESENT:
SMT. S. AMBILY - SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 16334 OF 2024
2
JUDGMENT
Dated this the 25th day of April, 2024
The petitioner is challenging the recovery
proceedings initiated against him under the
Secularization and Reconstruction of Financial Assests
and Enforcement of Security Interest Act, 2002. The
petitioner has availed a credit facility from the
respondent Bank and consequent to the default
committed by the petitioner in repaying the amount,
the said account is declared as NPA. Accordingly,
recovery proceedings have been initiated which is
impugned in this writ petition.
2. Heard Smt. Moly E.V, learned counsel for the
petitioner, Smt. S.Ambily, the learned counsel for the
respondent bank.
3. The learned counsel appearing for the Bank
submits that as on date, an amount of Rs.3,60,208/- is
overdue in the loan. It is submitted by the learned
counsel for the Bank upon instructions that, they are
amenable for granting an opportunity to the petitioner
to regularise the loan account by paying the entire
instalment overdue along with interest in reasonable
WP(C) NO. 16334 OF 2024
monthly instalments.
In such circumstances, this writ petition is
disposed of granting an opportunity to the petitioner to
regularise the loan account by paying the instalment
overdue as mentioned above along with interest due
thereon in 4 equal monthly instalments commencing from
01.06.2024 onwards. The subsequent instalments shall be
paid by the petitioner on 1st day of every succeeding
months. Along with the aforesaid payment, regular
monthly instalments shall also be paid. In case of
default on the part of the petitioner in payment of any
of the instalments including regular monthly
instalments, the aforesaid facility shall stand
cancelled, upon which the Bank will be at liberty to
proceed with the recovery proceedings. Subject to the
above direction, the recovery proceedings against the
petitioner is directed to be kept in abeyance.
Sd/-
ZIYAD RAHMAN A.A.
JUDGE
SM
WP(C) NO. 16334 OF 2024
APPENDIX OF WP(C) 16334/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED
5.2.2024 ISSUED BY THE RESPONDENT BANK
Exhibit P2 THE TRUE COPY OF THE OBJECTION DATED
27.3.2024 SUBMITTED TO THE RESPONDENT BANK
RESPONDENTS' EXHIBITS:NIL
TRUE COPY
P.A.TO JUDGE
