Kerala High Court
Stanli K A vs Idfc First Bank on 25 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 21506 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
WEDNESDAY, THE 25TH DAY OF SEPTEMBER 2024 / 3RD ASWINA, 1946
WP(C) NO. 21506 OF 2024
PETITIONER:
STANLI K A,
AGED 49 YEARS
S/O. ANTONY K T,P T JACOB ROAD, SOUTH MOOLAMUZHI,
MUNDAMVELI, ERNAKULAM, PIN - 682507
BY ADV ANJALI MENON
RESPONDENT:
IDFC FIRST BANK,
54/3106C, 1ST FLOOR GRACE CORNER,KALOOR-KADAVANTHRA
ROAD, KADAVATHRA, ERNAKULAM, REPRESENTED BY ITS
MANAGER, PIN - 682020
BY ADV PRADEESH CHACKO
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.09.2024, 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:
" i) To issue a writ of mandamus or any other appropriate
writ, order or direction directing the respondent to grant 15
equated monthly installments for repaying the overdue loan
amount and regularize the loan;
ii) To grant such other relief's as this Honorable Court may
deem fit in the circumstances of this case.
iii) To dispense with filing translation of documents in
vernacular."
2. The petitioner had availed two loans of Rs.
27,99,314/- and Rs.11,71,100/- with loan Nos. 21303813 and
21303814 respectively from the respondent Bank. The tenure for
making repayment of the loans advanced by the respondent Bank is
up to 2036.
3. The petitioner has committed defaults in making repayment
of the loan amount and therefore, the Bank after classifying the loan
accounts 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 submits that
as of today, the total overdue amount in respect of the loan account
No. 21303814 is Rs.3,59,168/ -and in respect of loan account No.
21303813 is Rs.92,614/-.
5. The petitioner has paid Rs. 2.5 lakhs in terms of the interim
order passed by this Court. The Bank instead of giving credit of the
said amount towards the overdue amount has adjusted the said
amount to the principal amount dues.
6. Since the amount paid by the petitioner is in terms of the
interim order passed by this Court, therefore, the said amount has to
be adjusted against the overdue amount and not in the principal
amount.
7. The Bank is therefore directed to credit Rs.2.5 lakhs paid
by the petitioner in terms of the interim order passed by this Court
against the overdue amount in respect of the loan account
No.21303814. The remaining overdue amount in respect of both the
loan accounts to be paid within a period of two months along with
two regular EMIs. The 1st installment along with regular EMI is to be
paid on or before 20.10.2024 and 2nd installment along with regular
EMI is to be paid on or before 20.11.2024.
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8. After making payment of the entire overdue amount as directed
above along with two regular EMIs, the petitioner shall continue to
discharge the loan liability in respect of two housing loans in terms
of the loan agreement till the entire liability is discharged by the
petitioner.
8. In case of failure to make payment of two installments along
with regular installments 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 law.
9. The learned counsel for the petitioner submits that any imputation
made against the respondent Bank are withdrawn and the same is deleted.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
WP(C) NO. 21506 OF 2024
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APPENDIX OF WP(C) 21506/2024
PETITIONER EXHIBITS
Exhibit-P1 A TRUE COPY OF POSSESSION NOTICE DATED
24.03.2022
Exhibit-P2 A TRUE COPY OF THE POLICE COMPLAINT DATED
29.11.2023
Exhibit-P3 A TRUE COPY OF THE ADVOCATE COMMISSIONER'S
NOTICE DATED 23.05.2024
RESPONDENT EXHIBITS
EXHIBIT (R)(1)(A) The true copy of the Statement of Accounts
dated 14.8.2024 of the loan agreement
bearing no. 21303813
EXHIBIT (R)(1)(B) The true copy of the Foreclosure statement
dated 15.8.2024 in the loan agreement
bearing no. 21303813
EXHIBIT (R)(1)(C) The true copy of the Statement of Accounts
dated 14.8.2024 of the loan agreement
bearing no. 21303814
EXHIBIT (R)(1)(D) The true copy of the Foreclosure statement
dated 15.8.2024 in the loan agreement
bearing no. 21303814
EXHIBIT (R)(1)(E) The true copy of the statement of accounts
and forclosure statement of loan account
no.23551498
