Kerala High Court
Vishnu Dath V.U vs Housing Development Finance ... on 3 October, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 34495 OF 2024 1
2024:KER:73743
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. 34495 OF 2024
PETITIONER:
VISHNU DATH V.U.,
AGED 32 YEARS
S/O UNNIKRISHNAN T.M., VARIKKATTU MADAM, EANIKKARA,
KARAKULAM P.O., THIRUVANANTHAPURAM, PIN - 695564
BY ADV J.G.SYAMNATH
RESPONDENT:
HOUSING DEVELOPMENT FINANCE CORPORATION LTD. (HDFC),
M.G. ROAD BRANCH, PREMIER TOWERS, M.G.ROAD,
THIRUVANANTHAPURAM. REPRESENTED BY ITS MANAGER, PIN -
695001
SRI. PRADHEESH CHACKO-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 34495 OF 2024 2
2024:KER:73743
JUDGMENT
The present writ petition has been filed for the following
prayers:
" A writ of mandamus or any other appropriate
writ, direction or order commanding the respondent to
permit the petitioners to remit the total overdue loan
amount in regular monthly installments, so as to enable
the petitioner to regularise the loan account, within a
time limit. B] Any other appropriate writ, order or
directions as this Hon'ble Court deem fit on the fact and
in the circumstances of the case and allow this petition
with cost."
2. The petitioner had taken a car loan of Rs.8,20,000/--and
a top-up loan from the respondent by creating an equitable mortgage
over his property.
3. The petitioner has committed defaults in making
repayment of the loan amount and therefore, the respondent Bank
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.
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4. The learned counsel for the respondent Bank, on
instructions, submits that as of today, the total overdue amount in
respect of two loans is Rs.92,536/- and the total outstanding amount
is Rs.4,80,000/-. The learned counsel for the Bank further submits
that if the petitioner makes the payment of the overdue amount
within the time granted by this Court, the respondent Bank shall
regularise the loan accounts of the petitioner for making payment in
terms of the loan agreement and Bank 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 Bank, the present writ petition is disposed of with the
following directions:
1. The petitioner shall pay the total overdue amount of
Rs.92,536/- in two equal monthly instalments. The 1st instalment
of Rs.25,000/- is to be paid on or before 20.10.2024 along with one
regular instalment, and the next instalment of the remaining overdue
amount is to be paid on or before 31.10.2024 along with one regular
instalment, in respect of both loan accounts.
2. After making payment of the entire overdue amount along
with regular installments as directed above, the respondent Bank
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shall regularise the loan accounts of the petitioner for making
payment of regular installment as per the terms of the loan
agreement.
3. In case of failure to make payment as directed above, the
respondent Bank shall be free to proceed with the SARFAESI
proceedings against the petitioner to realize its dues in accordance
with the law.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
2024:KER:73743
PPENDIX OF WP(C) 34495/2024
PETITIONER EXHIBITS
Exhibit-P1 A TRUE COPY OF THE LAWYER NOTICE DATED 14-08-
2024 ISSUED TO THE PETITIONER
