Kerala High Court
Aravindakshan T vs Lic Housing Finance Ltd on 22 October, 2024
Author: D. K. Singh
Bench: D. K. Singh
WP(C) NO. 36687 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE D. K. SINGH
TUESDAY, THE 22ND DAY OF OCTOBER 2024 / 30TH ASWINA, 1946
WP(C) NO. 36687 OF 2024
PETITIONER:
ARAVINDAKSHAN T.,
AGED 63 YEARS
S/O. LATE THANKAPPAN, CHERUKARAPARANBIL, PATTOORKUNNU,
CHOWARA, ALUVA, ERNAKULAM, PIN - 683571
BY ADVS.
HARIKRISHNAN M.S.
SHAKTHI PRAKASH
RESPONDENT:
LIC HOUSING FINANCE LTD.,
9TH FLOOR, JEEVAN PRAKASH, LIC BUILDING, M.G.ROAD, ERNAKULAM
REPRESENTED BY THE BRANCH MANAGER, PIN - 682011
BY ADVS.
ASP.KURUP
SADCHITH.P.KURUP(K/1419/2002)
C.P.ANIL RAJ(K/872/2007)
SIVA SURESH(K/2688/2022)
B.SREEDEVI(K/169/2024)
ATHIRA VIJAYAN(K/199/2024)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
Dated this the 22nd day of October, 2024
The present Writ Petition has been filed seeking the
following prayers:
i. Issue a writ of mandamus or any appropriate writ, order
or direction, directing the Respondent to permit the
Petitioner to repay the overdue amount in the loan
account bearing No. 520100002006 in 15 instalments;
(Or in the alternative)
ii. Issue a writ of mandamus or any appropriate writ, order
or direction, directing the Respondent to permit the
Petitioner to repay the entire outstanding amount in the
instalments;
iii. Grant such other reliefs prayed for from time to time
that this Honble Court may deem fit and just; iv. Dispense
with the filing of translations of the vernacular
documents.
2. The petitioner had availed a housing loan of
Rs.14,50,000/- from the respondent bank in the year 2013.
The tenure for repayment of the loan is up to 2028. The
petitioner has defaulted in making repayment of the loan
taken from the respondent bank. Therefore, the bank after
classifying the petitioner's loan account as NPA, has
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proceeded under the provisions of the SARFAESI Act and
Rules made thereunder.
3. The learned counsel for the bank submits that if the
petitioner makes payment of substantial amount upfront
and remaining overdue amount in few instalments, along
with the regular instalments, the bank shall regularize the
loan accounts of the petitioner. As on today, the overdue
amount is Rs.5,58,800/-and the total outstanding amount is
Rs.11,99,600/-.
4. Considering the said stand of the learned counsel for
the bank, the present writ petition is disposed of in the
following terms:
i. The petitioner shall pay an upfront amount of
Rs.1,00,000/- along with one regular instalment
on or before 15.11.2024 and the remaining
overdue amount in 10 equal monthly instalments,
along with the regular instalments. The 1 st
instalment is to be paid on or before 15.12.2024,
and the remaining 9 instalments on or before
the 15th day of each succeeding month.
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ii. Once the petitioner pays the entire overdue
amount, the bank shall regularize the loan
account of the petitioner.
iii. In case of failure to make payment of
Rs.1,00,000/- or any subsequent instalments as
directed above, the bank shall be free to proceed
further 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. 36687 OF 2024
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APPENDIX OF WP(C) 36687/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 02/08/2023
ISSUED BY THE RESPONDENT BANK UNDER SECTION 13(2)
OF THE SECURITISATION AND RECONSTRUCTION OF
FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY
INTEREST ACT, 2002
Exhibit P2 TRUE COPY OF THE NOTICE DATED 22.08.2024 ISSUED
BY THE ADVOCATE COMMISSIONER
RESPONDENT EXHIBITS
Exhibit R1A A true copy of the affidavit dated 24.8.2013
