Kerala High Court
Vijaya Kumari.S vs Manapuram Home Finance Ltd on 7 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 37934 OF 2024
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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. 37934 OF 2024
PETITIONER:
VIJAYA KUMARI.S,
AGED 43 YEARS
W/O SUDAN.R, NILAMPATHI, NEAR MARIYAMMAN TEMPLE, ALUVASSERY,
VALLANGHY, NEMMARA PO, PALAKKAD DISTRICT, PIN - 678508
BY ADV R.UMASANKAR
RESPONDENTS:
1 MANAPURAM HOME FINANCE LTD,
1ST FLOOR, SREEKRISHNA TOWER, ABOVE KARUR VYSYA BANK, VELLAN
STREET, SULTHANPETA, PALAKKAD, REP. BY ITS BRANCH MANAGER,
PIN - 678001
2 ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED (ARCIL),
THE RUBY, 29, SENAPATI BAPAT MARG, DADAR WEST, MUMBAI,
REPRESENTED BY ITS AUTHORISED OFFFICER, PIN - 400028
BY ADVS.
C.HARIKUMAR
SANDRA SUNNY(K/926/2020)
ARUN KUMAR M.A(K/1197/2021)
FARAH JYOTHI PRADEEP(K/1240/2023)
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
Dated this the 7th day of November, 2024
The present Writ Petition has been filed seeking the
following prayers:
i. Issue a Writ of Mandamus or other appropriate Writs,
Orders or Directions commanding the respondents 1 and
2 to regularize the loan account of the petitioner by
accepting the overdue amount in installments.
ii. Issue a Writ of Mandamus or appropriate Writs, Orders
or Directions commanding the respondents 1 and 2 to
defer all distress actions against the petitioner till then.
iii. Render such other orders as this Hon'ble Court may
deem fit and proper in the facts and circumstances of the
case.
2. The petitioner had availed a housing loan of
Rs.3,00,000/- from the respondent bank in the year 2021.
The petitioner has created an equitable mortgage over her
property having an extent of 0.0121 Hectors of land with
building in Re.Sy. No.424/5 in Vallanghy Village, Chittur
Taluk, Palakkad District. The petitioner has defaulted in
making repayment of the loan taken from the respondent
bank. Therefore, the bank after classifying the petitioner's
WP(C) NO. 37934 OF 2024
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loan account as NPA, proceeded under the provisions of the
SARFAESI Act and Rules made thereunder.
3. The learned counsel for the bank submits that the
petitioner's loan account was declared as NPA on
20.09.2022, and the loan has been recalled. Therefore, the
petitioner's loan account cannot be regularized. However,
the petitioner may discharge the outstanding liability in few
instalments as this Court may direct. As of today,
Rs.4,99,781/- is the total outstanding amount.
4. The tenure for repayment of the loan is up to 2029.
Considering the aforesaid fact, the present writ petition is
disposed of in the following terms:
i. The petitioner shall pay the entire outstanding
amount in 25 equal monthly instalments. The 1 st
instalment is to be paid on or before 25.11.2024,
and the remaining 24 instalments on or before
the 25th day of each succeeding month.
ii. In case of failure to make payment of 1 st
instalment or any subsequent instalments as
directed above, the bank shall be free to proceed
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with SARFAESI proceedings against the
petitioner for realizing the outstanding loan
amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
D. K. SINGH
JUDGE
AP
WP(C) NO. 37934 OF 2024
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APPENDIX OF WP(C) 37934/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE COMMISSION WARRANT DATED
15.03.2023 IN M.C NO.158/2023 OF CHIEF JUDICIAL
MAGISTRATE COURT, PALAKKAD.
