Fairose vs The Authorised Signatory
2024 Latest Caselaw 13965 Ker

Kerala High Court

Fairose vs The Authorised Signatory on 28 May, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
         THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946
                      WP(C) NO. 17120 OF 2024
PETITIONER:

             FAIROSE
             AGED 32 YEARS
             S/O KUTTTY HASSAN, VALIYAPARAMBIL HOUSE, ATHRISSERI
             P.O., TIRUR, MALAPPURAM, PIN - 676106
             BY ADV LAVARAJ M.G.


RESPONDENT:

             THE AUTHORISED SIGNATORY
             SHRIRAM FINANCE LIMITED, 2ND FLOOR, KMS TOWERS,
             THAZHEPALAM TIRUR P.O., MALAPPURAM, PIN - 676101
             SRI. C.HARIKUMAR, FOR R1



      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON   28.05.2024,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 WP(C) NO.17120 OF 2024

                                  2


                          JUDGMENT

When this matter was called today, Sri.C.Harikumar -

learned Counsel appearing for the respondent Financial

Institution, submitted that, the total outstanding in the loan

account of the petitioner, as on 27.05.2024, is Rs.8,97,544/-. He

can be allowed to settle the account provided he pays

Rs.6,50,000/- along with all applicable charges and interest in

not more than 10 equal monthly instalments.

2. Sri.M.G.Lavaraj - learned counsel for the

petitioner, fully agreed to the afore and prayed that this writ

petition be thus ordered.

In the afore circumstances, I allow this writ petition,

granting liberty to the petitioner to pay Rs.6,50,000/- with all

applicable charges and interest, in 10 equal monthly

installments commencing from 30.06.2024. If this is done, the

respondent Financial Institution shall close the loan account

and return the security documents to him, on proper receipt.

Needless to say, as long as the petitioner pays as per the

above directions, all further action pursuant to Ext.P1 will

stand deferred; but if he defaults payment of two installments WP(C) NO.17120 OF 2024

as ordered above, the respondent will be at full liberty to

invoke appropriate remedies for recovery of the total balance

amount as per law, without having to obtain any further orders

from this Court.

Sd/-DEVAN RAMACHANDRAN, JUDGE lsn WP(C) NO.17120 OF 2024

APPENDIX OF WP(C) 17120/2024

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT DATED 12.7.2023 Exhibit P2 TRUE COPY OF THE REQUEST SUBMITTED BY THE PETITIONER'S DATED 30.4.2024

RESPONDENTS EXHIBITS: NIL

TRUE COPY

P.A TO JUDGE

LSN