Kerala High Court
Harikrishnan S vs Axis Bank Ltd. Loan Center on 3 October, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
2024:KER:73355
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
THURSDAY, THE 3RD DAY OF OCTOBER 2024 / 11TH ASWINA, 1946
WP(C) NO. 34482 OF 2024
PETITIONERS:
1 HARIKRISHNAN S,
AGED 43 YEARS
S/O.M.SUKUMARAN NAIR, SREEVISAKH, TC 2/3104 (8),
SCT NAGAR, HOUSE NO. 109, PATTOM,
THIRUVANANTHAPURAM, PIN - 695004
2 SREEJA C,
AGED 40 YEARS
W/O.HARIKRISHNANAN.S, SREEVISAKH, TC 2/3104 (8),
SCT NAGAR, HOUSE NO. 109, PATTOM,
THIRUVANANTHAPURAM, PIN - 695004
BY ADVS.
C.UNNIKRISHNAN (KOLLAM)
D.JAYAKRISHNAN
VIJAYKRISHNAN S. MENON
VIVEK NAIR P.
SRUTHI SINDHU
ARJUN HARIKUMAR
ANANTHU R MURALI
PRAVEEN P.
PINKY R.
ROSHAN JEBIN M.P.
RESPONDENTS:
1 AXIS BANK LTD. LOAN CENTER,
REPRESENTED BY ITS AUTHORISED OFFICER, NIHAL
COMPLEX, 2ND FLOOR, KARAMANA PO,
THIRUVANANTHAPURAM, PIN - 695002
2 THE AUTHORISED OFFICER,
AXIS BANK LTD. LOAN CENTER, NIHAL COMPLEX, 2ND
W.P.(C).No.34482 of 2024
2024:KER:73355
2
FLOOR, KARAMANA PO, THIRUVANANTHAPURAM, PIN -
695002
OTHER PRESENT:
SRI. M. PREMCHAND-SC
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 03.10.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C).No.34482 of 2024
2024:KER:73355
3
JUDGMENT
(Dated this the 03rd day of October, 2024)
The present writ petition has been filed seeking the
following reliefs:
"II. Issue a writ of mandamus or other
appropriate writ, order or direction to the
respondent to consider the request of the
petitioner to regularise loans 1)
LPR011301502430 (Loan Against Property)
(2) PHR011300563775(Home Loan), and
(3) ECR011306385564(Loan Against
Property) by allowing the writ petitioners to
clear the overdue amount in instalments
along with the monthly re-payments.
II. Direct the respondent bank not to take
physical possession of the residential
property having a total extent of 4.05 Ares
in Re-survey No. 179/11-2 of Vattappara
village, Nedumangad taluk, Karakulam sub
district, Thiruvananthapuram district
described in more detail in Sale Deed
1131/2009 of Karakulam Sub Registrar's
office, before considering the request for
regularisation of the loans.
III. Grant such other relief as this Hon'ble
Court may deem fit."
2024:KER:73355
2. The petitioners had taken three loans by
mortgaging their property having an extent of 4.05 Ares in
Re-Survey No. 179/11-2 of Vattappara Village, Nedumangad
taluk, Karakulam Sub district, Thiruvananthapuram.
3. The petitioner has committed default in repaying
the loan amounts as per the terms of the loan agreement
and therefore, the Bank, after classifying the petitioners
loan accounts as NPA, has proceeded against the
petitioners under the provisions of the SARFAESI Act and
Rules made thereunder to realize its outstanding dues in
respect of the loans advanced to the petitioners.
4. The learned counsel for the respondent Bank
submits that as of today, the overdue amount in respect of
the three loans is Rs.8,68,819/- and the total outstanding
amount is Rs.32,59,368/-. He further submits that if the
petitioners make substantial upfront payment, and
remaining overdue amount in few instalments as this Court
may fix along with the regular instalments, the Bank shall
regularize the loan accounts of the petitioners for making
further payments in terms of the loan agreement.
2024:KER:73355
5. Considering the aforesaid stand of the Bank, the
present writ petition is disposed of on the following terms:
i) The petitioner shall pay Rs.4,00,000/- along with
one regular instalment on or before 31.10.2024 and the
remaining overdue amount in six equal monthly instalments
along with the regular instalments.
ii) The 1st instalment is to be paid on or before
15.11.2024 and the remaining five instalments on or before
15th day of each succeeding month.
iii) In case of failure to make payment of
Rs.4,00,000/- along with one regular instalment or any
other instalments as directed above, the Bank shall be free
to proceed further against the petitioners to realize its
outstanding dues.
iv) If the petitioners make payments as directed
above, the Bank shall regularize the loan accounts of the
petitioners for making further payments in terms of the loan
agreement.
Sd/-
DINESH KUMAR SINGH
JUDGE
Mms
2024:KER:73355
APPENDIX OF WP(C) 34482/2024
PETITIONERS EXHIBITS
EXHIBIT P1 A TRUE COPY OF THE NOTICE DATED
15.11.2023 ISSUED BY THE RESPONDENT
PROCEEDINGS INITIATED UNDER THE
SARFAESI ACT
EXHIBIT P2 A TRUE COPY NOTICE ISSUED BY
MS.SOORYAPUTHRI.P.U, ADVOCATE
COMMISSIONER THROUGH M.C. 756/2024 OF
THE HON'BLE CHIEF JUDICIAL MAGISTRATE
COURT, THIRUVANANTHAPURAM DATED
13.09.2024.
