Kerala High Court
Sunil George vs Hdfc Bank Limited on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 31577 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946
WP(C) NO. 31577 OF 2024
PETITIONER/S:
SUNIL GEORGE, AGED 43 YEARS
S/O GEORGE, PARIYADAN HOUSE, KUTTIKKAD, PARIYARAM, THRISSUR,, PIN
- 680724
BY ADVS. LATHEEF P.K., FAHAD HUSSAIN
RESPONDENT/S:
1 HDFC BANK LIMITED
PARAVUR KAVALA BRANCH, 1ST FLOOR, MENACHERY TOWERS,
THOTTAKKATTUKARA P.O.,PARAVUR JUNCTION, ALUVA,ERNAKULAM,
REPRESENTED BY BRANCH MANAGER, PIN - 683108
2 AUTHORISED OFFICER
HDFC BANK LIMITED.HDFC HOUSE, PB NO: 1667, RAVIPURAM JN, MG ROAD,
KOCHI, PIN - 682015
BY ADVS.
Ambily S
RUPA R. NAIR(K/001021/2023)
RUBAN JOE TONIYO(K/002926/2022)
K.K.CHANDRAN PILLAI (SR.)(C-41)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06.09.2024, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The present writ petition has been filed seeking the following
reliefs:
"i] Issue a writ of mandamus or any appropriate writ, order, or
direction to the 1st and 2nd respondents to permit the petitioner to
clear off the outstanding amounts by paying an amount of Rs.
25,000/- in the last week of September 2024 and the balance amount
in 15 equal monthly instalments thereafter.
ii] Issue a writ of mandamus or any appropriate writ, order, or
direction to the 1st and 2nd respondents and call for the documents
and details pursuant to the loan account.
iii] To dispense with the production of English translations of the
vernacular language documents.
iv] Grant such other relief as this Hon'ble Court may deem fit and
proper in the circumstances of the case."
2. The petitioner had obtained an equity loan of Rs.25 lakh
and insurance on the loan of Rs.1 lakh. The petitioner committed
default in repaying the loan amount in terms of the loan
agreement. Therefore, the Bank, after classifying the petitioner's
loan account as NPA, has proceeded against them under the
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provisions of the SARFAESI Act and the Rules made thereunder.
3. Learned Counsel for the Bank submits that as of today
the overdue amount in respect of the two loans is Rs.3,01,188/-
and the outstanding amount of Rs.30,26,520/-. The learned
Counsel, on instructions, submits that if the petitioner makes a
substantial upfront payment and pays off the remaining overdue
amount in few instalments as this Court may direct along with
regular instalments, the Bank shall not proceed further with the
SARFAESI proceedings and will regularize the loan account of the
petitioner after receipt of the entire overdue amount for making
payment in terms of the loan agreement.
4. Considering the said stand of the learned Counsel for the
respondent Bank, the present writ petition is disposed of on the
following terms:
(i) The petitioner shall pay an upfront amount of Rs.1 lakh on or
before 05.10.2024.
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(ii) The remaining overdue amount, along with regular
instalments, is to be paid in six equal monthly instalments.
(iii) The first instalment is to be paid on or before 07.11.2024, and
the remaining five instalments on or before the 7th day of each
succeeding month, along with regular instalments.
(iv) After making payment of the entire overdue amount along
with regular instalments, the petitioner shall continue to pay the
regular instalments till the entire loan liability is discharged.
(v) In case of failure to make payment of the upfront amount of
Rs.1 lakh or any instalments as directed above, the Bank shall be
free to proceed against the petitioner in accordance with the law.
The writ petition stands disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
jjj
WP(C) NO. 31577 OF 2024
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APPENDIX OF WP(C) 31577/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE ACCOUNT STATEMENT OF THE SAID
LOAN ACCOUNT FOR THE PERIOD 01.04.2023 TO 31-03-2024
Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE 2ND
RESPONDENT BANK TO THE PETITIONER DATED 05-07-2024
