Kerala High Court
Niyas Khan vs Cholamandalam Investment And Finance ... on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 23192 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. 23192 OF 2024
PETITIONER:
NIYAS KHAN,
AGED 47 YEARS
S/O A. KABEER, FLAT NO. 15, PADNABHAM HOMES,
KALADY, SOUTH, THIRUVANANTHAPURAM DISTRICT, PIN -
695002
BY ADVS.
K.SHAJ
BEENA N.KARTHA
ARUN CHAND
BHARAT VIJAY P.
GOPIKA GOPAL
ARCHANA P.P.
AKHILA HUSSAIN Z.
RESPONDENTS:
1 CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD,
HAVING REGISTERED OFFICE AT DARE HOUSE, 2 NSC BOSE
ROAD, PARRYS, CHENNAI, AND BRANCH OFFICE AT 2ND
FLOOR, RAJA COMMERCIAL COMPLEX, OPPOSITE AKSHARA
OFFSET PRINTERS, THIRUVANANTHAPURAM DISTRICT.
REPRESENTED BY ITS AREA CREDIT MANAGER AND
AUTHORIZED OFFICER, PIN - 600001
2 AREA CREDIT MANAGER AND AUTHORIZED OFFICER,
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD,
HAVING REGISTERED OFFICE AT DARE HOUSE, 2 NSC BOSE
ROAD, PARRYS, CHENNAI, AND BRANCH OFFICE AT 2ND
FLOOR, RAJA COMMERCIAL COMPLEX, OPPOSITE AKSHARA
OFFSET PRINTERS, THIRUVANANTHAPURAM DISTRICT, PIN
- 600001
WP(C) NO. 23192 OF 2024
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BY ADVS.
R.SUNIL KUMAR
BINOY VASUDEVAN
A.SALINI LAL(K/1486/1999)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 06.09.2024, THE COURT ON THE SAME DAY DELIVERED
THE FOLLOWING:
WP(C) NO. 23192 OF 2024
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JUDGMENT
The petitioner has approached this Court by filing WP(C)
No.15543/2024. The said Writ Petition was disposed of with the
following directions:
"(i) The petitioner shall remit the overdue amount of
₹2,10,359/- in four equal and consecutive monthly instalments
along with accruing interest and other administrative charges, if
any. First of such instalments shall be paid on or before
27.06.2024.
(ii) If the petitioner commits single default in making
payments as directed above, the respondents will be at liberty
to continue with coercive proceedings against the petitioner in
accordance with law.
(iii) The petitioner shall also pay current EMIs along with the
aforesaid payments.
(iv) If the petitioner pays the instalments as directed above,
any coercive proceedings against the petitioner shall stand
deferred.
(v) The petitioner may approach the Bank for repossession of
the secured asset after clearing the entire outstanding arrears."
2. In compliance with the directions issued by this
Court, the petitioner has paid the entire overdue amount of
Rs.2,10,359/- in four equal monthly installments. However, the
respondent Financial Institution has not handed over the secured
asset to the petitioner.
WP(C) NO. 23192 OF 2024
2024:KER:68222
3. The learned counsel for the respondent Financial
Institution submits that the Financial Institution has no objection
in handing over the possession of the secured asset to the
petitioner. However, this Court may put a condition that in case
of making any future default by the petitioner in making
repayment of the remaining loan amount of the respondent
Financial Institution, the Financial Institution shall proceed to
take the secured asset of the petitioner.
Considering the aforesaid submission of the respondent
Financial Institution, the present Writ Petition is disposed of with
direction to the Financial Institution to restore back the
possession of the secured asset to the petitioner forthwith. The
petitioner shall continue to discharge the liability in terms of the
loan agreement. In the event of a future default by the
petitioner, the Financial Institution shall be free to take
possession of the secured asset from him.
SD/-DINESH KUMAR SINGH
JUDGE
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WP(C) NO. 23192 OF 2024
2024:KER:68222
APPENDIX OF WP(C) 23192/2024
PETITIONER EXHIBITS
Exhibit P1 THE TRUE COPY OF THE ISSUED POSSESSION
NOTICE UNDER SECTION 13(4) DATED
19/12/2023 ISSUED BY THE 2ND RESPONDENT.
Exhibit P2 THE TRUE COPY OF THE JUDGMENT DATED
27/05/2024 IN W.P.C.NO.15543 OF 2024 OF
THIS HON'BLE COURT.
Exhibit P3 THE TRUE COPY OF THE RECEIPT DATED
07/06/2024 ACKNOWLEDGING PAYMENT OF
RS.2,10,359/-
Exhibit P4 THE TRUE COPY OF THE REPRESENTATION
DATED 12/06/2024 SUBMITTED BY THE
PETITIONER TO THE 1ST RESPONDENT.
Exhibit P5 THE TRUE COPY OF THE POSTAL RECEIPT
DATED 12/06/2024 ISSUED BY THE POSTAL
DEPARTMENT.
Exhibit P6 THE TRUE COPY OF THE RECEIPT DATED
14/06/2024 ACKNOWLEDGING PAYMENT OF
RS.3,298/-
RESPONDENTS EXHIBITS: NIL
TRUE COPY
P.A TO JUDGE
LSN
