Kerala High Court
Santhakumari vs Mahindra Home Finance on 21 November, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 38402 OF 2024 1
2024:KER:88106
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
THURSDAY, THE 21ST DAY OF NOVEMBER 2024 / 30TH KARTHIKA, 1946
WP(C) NO. 38402 OF 2024
PETITIONER:
SANTHAKUMARI,
AGED 55 YEARS
D/O. PONNAMMA, KANAKKODE VADAKKUMKARA PUTHAN VEEDU,
VELLARADA, THIRUVANANTHAPURAM, PIN - 695505
BY ADVS.
ANAND KALYANAKRISHNAN
C.DHEERAJ RAJAN
LIBIN VARGHESE
RESPONDENTS:
1 MAHINDRA HOME FINANCE,
3RD FLOOR, AMBADY TOWERS, POOKKATTUPADY ROAD,
EDAPALLY TOLL, ERNAKULAM, REPRESENTED BY ITS MANAGER,
PIN - 682024
2 AUTHORIZED OFFICER,
MAHINDRA HOME FINANCE, 3RD FLOOR, AMBADY TOWERS,
POOKKATTUPADY ROAD, EDAPALLY TOLL, ERNAKULAM, PIN -
682024
BY ADVS.
FAZIL P
JITHIN PAUL VARGHESE(K/940/2009)
C.PRABITHA(K/528/2009)
ASWATHY JAYACHANDRAN(K/994/2022)
ALVIN MATHEW(K/000492/2024)
ADEENA SHAMNAD(K/003402/2024)
FADIL FAZIL(K/1842/2021)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.11.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 38402 OF 2024 2
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JUDGMENT
The present writ petition has been filed with the following
prayers:
"i. Issue Writ of Mandamus or any other appropriate
writ, order or direction directing the respondent
bank to regularize the loan.
ii. Issue Writ of Mandamus or any other appropriate
writ, order or direction directing the respondent bank
to permit the petitioner to repay the overdue amount
in 30 instalments.
iii. To dispense with the filing of English translation
of documents marked in vernacular language.
iv. Grant such other relief as this Honourable court
deem fit in the interest of justice."
2. The petitioner along with her children had availed a
loan of Rs.1,50,000/- from the respondent Financial Company in
the year 2022 by creating an equitable mortgage over her
property having an extent of 3.78 Areas in Old Sy.No.628/2/B-7,
628/2/B-8/1 and Re.SyNo.374/6 of Vellarada Village,
Neyyatinkara Taluk, Thiruvananthapuram District. The tenure for
repayment of the loan is 37 equal monthly instalments. The
petitioner has committed default in making repayment of the loan
in terms of the loan agreement, and therefore, the respondent
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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 petitioner submits that the
petitioner is willing to discharge the liability in few instalments.
4. The learned counsel for the respondent Finance
Company submits that the Finance Company has no objection to
the said request. He submits that, as of today, the total
outstanding amount is Rs. 2,36,680/-. He further submits that, if
the petitioner makes substantial upfront payment and the balance
outstanding amount in few instalments, as this Court may fix, the
respondent Finance Company shall not proceed further under the
provisions of the SARFAESI Act and Rules made thereunder.
Considering the said stand of the learned counsel for
the respondent Finance Company, the present writ petition is
disposed of with following directions:
1. The petitioner shall remit an amount of Rs.50,000/- on
or before 15.12.2024. After making a remittance of Rs.50,000/-
on or before 15.12.2024, the respondent Finance Company shall
restore back the possession of the secured asset to the petitioner.
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2) The balanced outstanding amount has to be paid in 12
equal monthly instalments thereafter. The 1st instalment is to be
paid on or before 15.01.2025, and the remaining 11 instalments
are to be paid on or before the 15th day of each succeeding month.
3) In case of failure to make payment of Rs.50,000/- or
any other instalments as directed above, the respondent Finance
Company shall be free to take possession from the petitioner and
proceed in accordance with the law.
4. If the petitioner does not default in making payment
as directed above, the respondent Finance Company shall drop
all the proceedings under the provisions of the SARFAESI Act and
Rules made thereunder.
Sd/-D. K. SINGH
JUDGE
lsn
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APPENDIX OF WP(C) 38402/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE ADVOCATE COMMISSIONER
NOTICE DATED 05.09.2024
