Kerala High Court
Muraleedharan S.R vs The Authorised Officer Piramel Capital ... on 3 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 31041 OF 2024
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2024:KER:66843
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
TUESDAY, THE 3RD DAY OF SEPTEMBER 2024 / 12TH BHADRA, 1946
WP(C) NO. 31041 OF 2024
PETITIONER:
MURALEEDHARAN S.R
AGED 38 YEARS
S/O RAGHUNATHAN KP, PUTHEN PARAMBIL PUTHIYAVEEDU,
PANACHIKKADU VILLAGE, CHANNANIKKADU P.O, KOTTAYAM
TALUK, KOTTAYAM DISTRICT, PIN - 686533
BY ADV M.RETHEESHKUMAR
RESPONDENTS:
1 THE AUTHORISED OFFICER PIRAMEL CAPITAL AND HOUSING
FINANCE LTD
WARDEN HOUSE, 2ND FLOOR, SIR PM ROAD, FORT MUMBAI,
PIN - 400001
2 PIRAMEL CAPITAL AND HOUSING FINANCE LTD
1ST FLOOR, MADEENA ARCADE, CMS COLLEGE ROAD, BAKER
JN, KOTTAYAM REPRESENTED BY ITS BRANCH MANAGER.,
PIN - 686001
SRI. ASWIN T. SURESH
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 03.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The present Writ Petition has been filed for the following
prayers:
"1. issue a writ of certiorari or any other
appropriate writ or order quashing Exhibit P2
Notice issued by the Advocate commissioner to
the petitioner;
2. frame a guideline/rules/ procedures to be
followed to the satisfaction of the contents of
the affidavit filed by the secured creditor by the
CJM courts before passing orders while handling
with a petition U/s. 14 of the SARFAESI Act.
3. issue such other appropriate writ or order
which deemed just and necessary on the facts
and circumstances of the case."
2. The petitioner has obtained housing loan from the
'Diwan Housing Finance Ltd' which was amalgamated to the 'Piramel
Capital and Housing Finance Ltd'. As of today, the total outstanding
amount in respect of the loan advanced by the respondent Financial
Institution is Rs.30,67,893/- and the total overdue amount is
Rs.8,63,245/-.
3. The learned counsel for the respondent Financial
Institution submits that if the petitioner deposits substantial amount
upfront, the respondent Financial Institution will have no objection in
accepting the remaining overdue amount in installments along with
WP(C) NO. 31041 OF 2024
2024:KER:66843
regular installments. The tenure for repayment of the loan is upto 2035.
Considering the said stand of the learned counsel for the
respondent Financial Institution, the present Writ Petition is disposed of
with the following terms:
i) The petitioner shall deposit Rs.3 lakhs on or before
30.09.2024 and the remaining overdue amount in six equal monthly
installments along with regular installments. The 1 st installment is to be
paid on or before 15.10.2024 and remaining five installments along with
regular installment on or before 15th day of each succeeding month.
ii) In case of failure to make payment of Rs.3 lakhs or any
other installments as directed above, the respondent Financial
Institution shall be free to proceed with the SARFAESI proceedings
against the petitioner for realization of the overdue loan amount, in
accordance with law.
iii) After making payment of entire overdue amount
along with regular installments, the Financial Institution shall regularise
the loan account of the petitioner for making payment of regular
installment as per the terms of the loan agreement.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
WP(C) NO. 31041 OF 2024
2024:KER:66843
APPENDIX OF WP(C) 31041/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE ORDER DATED 04.01.2024
IN IA NO 3127/2023 IN COMPANY PETITION NO
4258/MB/2019 PASSED BY THE NATIONAL
COMPANY LAW TRIBUNAL COURT-II, MUMBAI
BENCH
Exhibit P2 TRUE COPY OF THE NOTICE DATED 17.08.2024
ISSUED BY ADVOCATE COMMISSIONER IN MC
503/2024 PENDING BEFORE THE HON'BLE CHIEF
JUDICIAL MAGISTRATE COURT, KOTTAYAM
RESPONDENTS EXHIBITS: NIL
TRUE COPY
P.A TO JUDGE
LSN
