Kerala High Court
Babu.O.S vs Union Of India on 15 November, 2024
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W.P.(C) NO.40452 OF 2024
2024:KER:85686
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
FRIDAY, THE 15TH DAY OF NOVEMBER 2024 / 24TH KARTHIKA, 1946
W.P.(C) NO.40452 OF 2024
PETITIONERS:
1 BABU.O.S, AGED 47 YEARS,
S/O.. O.A.SAIDU MUHAMMED, RESIDING AT MANGALASSERY,
OZHIPARAMBIL HOUSE, DESHABHIMANI ROAD, NALUKANDAM LANE,
KALOOR, KOCHI, PIN - 682 017
2 SAMEERA BABU, AGED 38 YEARS,
W/O. BABU.O.S, RESIDING AT MANGALASSERY, OZHIPARAMBIL HOUSE,
DESHABHIMANI ROAD, NALUKANDAM LANE, KALOOR,
KOCHI, PIN - 682 017
BY ADVS.
VARGHESE C.KURIAKOSE
AMRITHA.J
KURUVILLA MATHEW
VIPIN C. VARGHESE
RESPONDENTS:
1 UNION OF INDIA,
REPRESENTED BY SECRETARY,
DEPARTMENT OF BANKING OPERATIONS, SECRETARIAT,
NEW DELHI, PIN - 110 001
2 HDFC BANK LIMITED,
TAGORE THEATRE ROAD, P.B.NO.2288, VAZHUTHACAUD,
THIRUVANANTHAPURAM, PIN - 695 010,
REPRESENTED BY CHIEF MANAGER.
3 THE AUTHORISED OFFICER,
HDFC BANK LIMITED, TAGORE THEATRE ROAD, P.B.NO.2288,
2
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VAZHUTHACAUD, THIRUVANANTHAPURAM, PIN - 695 010
OTHER PRESENT:
SRI. S. AMBILY, SC
SRI. T.C KRISHNA, DSGI
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
15.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
(Dated: 15th November, 2024)
The petitioners availed a housing loan for an amount of
Rs.42,50,000/- in the year 2019 from the 2nd respondent bank. The
loan availed had to be repaid in 180 equal monthly instalments of
Rs.46,454/-. Since there was a default on the part of the petitioner in
remitting the amounts, 'SARFAESI' (Securitization and Reconstruction
of Financial Assets and Enforcement of Security Interest) proceedings
were initiated under Section 13(2), and also Ext.P2 paper publication
was issued.
2. Learned standing counsel appearing for the respondents
submits that after taking the loan of Rs.42,50,000/- in the year 2019,
not even the interest was paid, therefore the bank classified the
account as NPA.
3. The limited prayer in the writ petition is for a direction to
the respondent bank to permit the petitioner to regularise the
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overdue amount towards the loan in 12 monthly instalments starting
from 01.12.2025.
4. Learned standing counsel appearing for the respondent
bank on instructions submits that as of 15.11.2024, the outstanding
amount is Rs.40,37,568/- and the overdue amount comes to
Rs.3,43,508/-.
5. Heard the counsel for the petitioner as well as the
respondents.
6. The counsel for the petitioner objected Ext.P2 notice by
Ext.P3, and a reply has been given by the bank as Ext.P4. The tenure
of the loan amount is till 2034.
7. The counsel for the respondent/bank objects to granting
instalments and submits that the entire overdue amount should be
paid in three instalments, and to show the bona fides, the petitioner
should pay atleast an amount of Rs.1,00,000/- within one month.
Considering the above aspects, the writ petition is
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disposed of as follows:-
i. The petitioner shall pay a lumpsum amount of
Rs.50,000/- (Rupees Fifty Thousand only) on or before
15.12.2024.
ii. After making a payment of Rs.50,000/- as directed
above, the petitioner shall pay the remaining overdue
amount in 6 equated monthly instalments along with
regular instalments.
iii. The 1st instalment shall be paid on or before
10.01.2025. The remaining 5 instalments shall be paid
on or before 15th day of each succeeding month.
iv. After making a payment of the entire overdue
amount along with regular instalments, the petitioner
shall continue to pay the regular instalments till the
entire loan liability is discharged.
v. In case of failure to make payment of the lump sum
amount of Rs.50,000/- or any one of the instalments
as directed above, the bank will be free to take
possession of the secured assets. The bank shall
proceed against the petitioner in accordance with law.
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vi. Till such time, all coercive proceedings against the
secured assets shall be deferred.
The writ petition is disposed of.
Sd/-
BASANT BALAJI,
JUDGE
ss
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APPENDIX OF WP(C) 40452/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE PHOTOSTAT COPY OF THE DEMAND NOTICE UNDER
SECTION 13(2) DATED 01.10.2024 ISSUED BY THE
RESPONDENT NO.3.
Exhibit P2 TRUE PHOTOSTAT COPY OF THE DEMAND NOTICE UNDER
SECTION 13(2) DATED 24.10.2024 BY PAPER
NOTIFICATION IN MANGALAM DAILY WITH TRANSLATION
Exhibit P3 TRUE PHOTOSTAT COPY OF THE OBJECTION TO THE DEMAND
NOTICE SUBMITTED BY THE PETITIONERS DATED
26.10.2024
Exhibit P4 TRUE PHOTOSTAT COPY OF THE REPLY TO THE OBJECTION
DATED 01.11.2024 ISSUED BY THE 3RD RESPONDENT
