Kerala High Court
Mahindra Rural Housing Finace Ltd vs Reji.P.Ravi on 20 May, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
MONDAY, THE 20TH DAY OF MAY 2024 / 30TH VAISAKHA, 1946
RP NO. 400 OF 2024
AGAINST THE ORDER DATED 18.03.2024 IN WP(C) NO.10874 OF
2024 OF HIGH COURT OF KERALA
REVIEW PETITIONER/RESPONDENT 1 AND 2 IN WPC
1 MAHINDRA RURAL HOUSING FINACE LTD
AGED 44 YEARS
3RD FLOOR,AMBADY TOWERS POOKATTUPADY ROAD ,
EDAPPALLY TOLL,ERNAKULAM
REPRESTENDED BY ITS AUTHORISED OFFICER,
PIN - 682024
2 THE AUTHORISED OFFICER
AGED 44 YEARS
MAHINDRA RURAL HOUSING FINANCE LTD
3RD FLOOR AMBADY TOWERS ,POOKKATTUPADY ROAD ,
EDAPPALLY TOLL ERNAKULAM, PIN - 682024
BY ADVS.
M.A.JOSEPH MANAVALAN
JOSEPH C.J.
JAMES JOSE
RESPONDENT/PETITIONER IN WPC:
REJI.P.RAVI
W/O SAJU B RESIDING AT PERAYATHUKONNAM ,
VADAKKINKARA VEEDU ,MEKKOLA DHANUVACHAPURAM P.O
KOLLAYIL MANCHAVILAKOM,
THIRUVANTHA PURAM DISTRICT, PIN - 695503
SRI.J.R.PERM NAVAZ
THIS REVIEW PETITION HAVING COME UP FOR ADMISSION
ON 20.05.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
RP No.400/2024
:2:
N. NAGARESH, J.
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R.P. No.400 of 2024
in
W.P.(C) No.10874 of 2024
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Dated this the 20th day of May, 2024
ORDER
~~~~~~
Respondents 1 and 2 in W.P.(C) No.10874/2024
have filed this Review Petition alleging errors apparent on
the face of the records of the case, in the interim order dated
18.03.2024.
2. The respondent as a co-borrower availed financial
assistance from the review petitioners. On the failure of the
respondent to make prompt repayment of loan amount, the
petitioners initiated proceedings under Section 14 of the
Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002. When the
Advocate Commissioner appointed by the Chief Judicial
Magistrate served notice of taking over possession, the
respondent filed the writ petition inter alia seeking to permit
the petitioner to discharge the outstanding overdue loan
liability in 24 monthly instalments and to regularise the loan
account.
3. This Court passed an interim order dated
18.03.2024 in the writ petition staying further proceedings
pursuant to Ext.P3 for a period of one month on condition
that the petitioner remits an amount of ₹20,000/- on or before
27.03.2024. The review petitioners are aggrieved by the said
order. The review petitioners contend that the interim order
has been issued without extending an opportunity to the
review petitioners to be heard. Out of the total outstanding of
₹2,20,529/-, as on 19.03.2024, there is a current overdue
amount of ₹82,524/- from the petitioner. The review
petitioners pray that the respondent be directed to make
down payment of ₹82,524/- or at least ₹68,000/- on or before
27.03.2024 so that the loan is classified out of NPA within the
financial year itself.
4. I have heard the learned counsel for the
petitioners and the learned counsel representing the
respondent.
5. When this Review Petition came up for admission
on 25.03.2024, the counsel for the respondent submitted that
the respondent shall pay an additional amount of ₹20,000/-
on or before 27.03.2024 bringing the total repayment to
₹40,000/-.
6. I do not find any error apparent on the face of the
impugned order dated 18.03.2024. The prayer of the review
petitioners is to direct the respondent to pay at least
₹68,000/- down payment on or before 27.03.2024. The
respondent has undertaken to pay additional amount of
₹20,000/- on or before 27.03.2024 making the total
repayment to ₹40,000/-.
In view of the afore facts and taking into
consideration the fact that the writ petition is being disposed
of granting limited relief to the petitioner, no review is
warranted. The review petition is therefore disposed of in
terms of the judgment in W.P.(C) No.10874/2024.
Sd/-
N. NAGARESH, JUDGE
aks/15.05.2024
