Kerala High Court
Arch Antony vs The Branch Manager on 3 May, 2024
Author: Kauser Edappagath
Bench: Kauser Edappagath
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
FRIDAY, THE 3RD DAY OF MAY 2024 / 13TH VAISAKHA, 1946
WP(C) NO. 16895 OF 2024
PETITIONERS:
1 ARCH ANTONY
AGED 46 YEARS
S/O ANTONY ABRAHAM ARCH VIEW, KALANJOOR P.O,
ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694
2 DEEPAKUTTY ARCH
AGED 40 YEARS
W/O ARCH ANTONY ARCH VIEW, KALANJOOR P.O,
ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694
3 ALEYAMMA ANTONY
AGED 74 YEARS
W/O ANTONY ABRAHAM ARCH VIEW, KALANJOOR P.O,
ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694
4 ARTHUR ARCH ANTONY
AGED 22 YEARS
S/O ARCH ANTONY ARCH VIEW, KALANJOOR P.O,
ENATHIMANGALAM, PATHANAMTHITTA, PIN - 689694
BY ADV RAMAKRISHNAN M.
RESPONDENTS:
1 THE BRANCH MANAGER
HDFC BANK LTD, PATHANAMTHITTA BRANCH, ABAN ARCADE,
KUMBAZHA ROAD, PATHANAMTHITTA DISTRICT, PIN -
689645
W.P.(C).No.16895/2024
-:2:-
2 THE AUTHORISED OFFICER
HOUSING DEVELOPMENT FINANCE BANK LTD., HDFC HOUSE,
P.B NO. 2288, VAZHUHTHAKAUD, THIRUVANANTHAPURAM,
PIN - 695010
BY ADVS.Ambily S
RUPA R. NAIR(K/001021/2023)
MATHEW JOSEPH BALUMMEL(K/001219/2019)
K.K.CHANDRAN PILLAI (SR.)(C-41)
SMT.S. AMBILY-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 03.05.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C).No.16895/2024
-:3:-
JUDGMENT
The petitioners are challenging the recovery proceedings
initiated against them under the Securitization and
Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002.
2. The petitioners have availed a credit facility from the
respondent Bank and consequent to the default committed by the
petitioners in repaying the amount, the said accounts were
declared as NPA. Accordingly, recovery proceedings have been
initiated which is impugned in this writ petition.
3. Heard Sri.Ramakrishnan M, the learned counsel for the
petitioner and Smt. S. Ambili, the learned Standing Counsel for
the respondents.
4. The learned Standing Counsel appearing for the Bank
submits that as on date, an amount of Rs.43,12,383/- 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 petitioners to regularise the loan account by
paying the entire instalment overdue along with interest in
reasonable monthly instalments.
In such circumstances, this writ petition is disposed of
granting an opportunity to the petitioners to regularise the loan
accounts by paying the instalment overdue as mentioned above
along with interest due thereon in 3 equal monthly instalments
commencing from 1.6.2024 onwards. The subsequent
instalments shall be paid by the petitioner on the 5 th day of every
succeeding months. Along with the aforesaid payment, regular
monthly instalment shall also be paid. In case of default on the
part of the petitioners 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 petitioners is directed to be
kept in abeyance.
Sd/-
DR. KAUSER EDAPPAGATH
JUDGE
kp
APPENDIX OF WP(C) 16895/2024
PETITIONER EXHIBITS
Exhibit-P1 THE COPY OF THE NOTICE DATED 09-05-2023
Exhibit-P2 THE COPY OF THE NOTICE DATED 15-03-2024
