Kerala High Court
Sanak N. L vs Bajaj Housing Finance Ltd., ... on 7 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 37302 OF 2024 1
2024:KER:82991
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 7TH DAY OF NOVEMBER 2024 / 16TH KARTHIKA, 1946
WP(C) NO. 37302 OF 2024
PETITIONER:
SANAK N. L.,
NMC 122, PS NAGAR, HOUSING BOARD, NEDUMANGAD,
TRIVANDRUM, KERALA, PIN - 695554
BY ADVS.
S.J.SHEMEER
R.K.RAKESH
REVATHY VIKRAMAN
RESPONDENT:
BAJAJ HOUSING FINANCE LTD., REPRESENTED BY
AUTHORIZED OFFICER
B4, 4TH, NEXA POPULAR SHOWROOM, BCG ESTATE, NH BYE
PASS, PALARIVATTOM, KOCHI, KERALA, PIN - 682025
SRI.PRADHEESH CHACKO-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 07.11.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The present writ petition has been filed with the following
prayers:
"i) To issue a writ of certiorari or any other
appropriate writ or order to call for the records
leading to Exhibits P2 and quash the same.
ii) Issue a writ of mandamus or any other
appropriate writ, order or direction, directing the
respondent to permit the petitioner to pay the due
amount in convenient 16 monthly instalments after
deducting penal interest and hidden charges and to
regularize the loan account.
iii) Grant such other reliefs as this Hon'ble Court may
deem just and proper in the interest of justice,
including costs.
iv) To dispense with filing of English translation of the
vernacular documents."
2. The petitioner had obtained housing loan of
Rs.24,00,000/- from the respondent Finance Company in the
year 2018 by creating an equitable mortgage over his
property having an extent of 1.26 Ares in Karakulam SRO in
Re.Sy.No.660/4 of Karipoor Village, Nedumangadu Taluk,
Thiruvananthapuram District. It appears that the
petitioner is suffering from mental illness and therefore, the
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petitioner has not been able to discharge the loan
liability in terms of the loan agreement. Therefore, the
respondent Finance Company after classifying the loan
account of the petitioner as Non-Performing Asset, has
proceeded under the provisions of the SARFAESI Act and
Rules made thereunder.
3. The learned counsel for the respondent Finance
Company, on instructions submits that, as of today, the
overdue amount is Rs.2,70,000/- and the total outstanding
amount is Rs.18,79,000/-.
4. The learned counsel for the petitioner submits
that the petitioner is willing to pay the overdue amount within
a period of four months along with regular installments.
5. The learned counsel for the respondent Finance
Company further submits that if the petitioner makes the
substantial payment upfront and agrees to pay the remaining
amount in few installments, as this Court may fix, respondent
Finance Company shall regularise the loan account of the
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petitioner for making repayment in terms of the loan
agreement and will not proceed further under the provisions
of the SARFAESI Act and Rules made thereunder.
Considering the fact that the petitioner has discharged
the liability except for few defaults, it would be appropriate
to dispose of this Writ Petition with the following terms:
i) The petitioner shall pay Rs.1 lakh along with one
regular installment on or before 30.11.2024 and the
remaining overdue amount in 5 equal monthly installments
along with regular installments. The 1st installment is to be
paid on or before 07.01.2025 and remaining four installments
along with regular installments on or before 07th day of each
succeeding month.
ii) After making payment of the entire overdue amount
as directed above, the Finance Compnay shall regularise the
loan account of the petitioner to make payment in terms of
the loan agreement and return the secured asset to the
petitioner.
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iii) In case of failure to make payment of Rs.1 lakh along
with one regular installment or any other installments as
directed above, the respondent Finance Company shall be
free to proceed with the SARFAESI proceedings against the
petitioner for realization of its dues, in accordance with law.
Sd/- D. K. SINGH
JUDGE
lsn
2024:KER:82991
APPENDIX OF WP(C) 37302/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE HOSPITAL MEDICAL
RECORD DATED 23.10.2017 ISSUED BY
TRIVANDRUM MENTAL HEALTH CENTRE
Exhibit2 A TRUE COPY OF THE ADVOCATE COMMISSIONER
NOTICE DATED 25.09.2024
