Kerala High Court
Jaleel P.M vs Sundarm Home Finance Ltd on 22 April, 2025
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WP(C) NO. 16668 OF 2025
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE P.M.MANOJ
TUESDAY, THE 22ND DAY OF APRIL 2025 / 2ND VAISAKHA, 1947
WP(C) NO. 16668 OF 2025
PETITIONERS:
1 JALEEL P.M
AGED 50 YEARS
S/O MUHAMMED KUNJU, PULIMOOTTIL HOUSE, ARYAD SOUTH,
AVALOOKKUNNU P O, KOMALAPURAM VILLAGE, AMBALAPPUZHA
TALUK, ALAPPUZHA DISTRICT, PIN - 688006.
2 RASEENA
AGED 47 YEARS
W/O JALEEL P.M., PULIMOOTTIL HOUSE, ARYAD SOUTH,
AVALOOKKUNNU P O, KOMALAPURAM VILLAGE, AMBALAPPUZHA
TALUK, ALAPPUZHA DISTRICT, PIN - 688006.
BY ADVS.
P.K.MURALEEDHARAN
SUNU P.JOHN
RESPONDENTS:
1 SUNDARM HOME FINANCE LTD.
1ST FLOOR, S.N. SQUARE, S.N. JN., NEAR ADAM TOWER,
M C ROAD, KOTTAYAM, REPRESENTED BY ITS BRANCH
MANAGER, PIN - 686601.
2 THE BRANCH MANAGER
SUNDARAM HOME FINANCE LTD., 1ST FLOOR, S.N. SQUARE,
S.N. JN., NEAR ADAM TOWER, M C ROAD, KOTTAYAM,
PIN - 686601
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WP(C) NO. 16668 OF 2025
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3 THE AUTHORIZED OFFICER
SUNDARAM HOME FINANCE LTD., 1ST FLOOR, S.N. SQUARE,
S.N. JN., NEAR ADAM TOWER, M C ROAD, KOTTAYAM,
PIN - 686601
BY ADV Ambily S
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 22.04.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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WP(C) NO. 16668 OF 2025
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P.M.MANOJ, J.
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W.P.(C) No.16668 of 2025
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Dated this the 22nd day of April, 2025
JUDGMENT
Petitioners have approached this Court challenging
proceedings initiated by the respondent Bank under the
provisions of the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, for
recovery of the amounts due from the petitioners.
2. During the course of hearing, petitioners have
confined the relief to an opportunity for repaying the overdue
amount in instalments and to obtain regularisation of the loan
account.
3. It was submitted on behalf of the respondent bank
that the petitioners committed default in repayment and the
overdue amount is Rs.4,80,223/-. It was further submitted that
though proceedings for recovery have been initiated, as a
matter of indulgence, the respondent bank is willing to accept
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WP(C) NO. 16668 OF 2025
repayment of the overdue amount in limited instalments and
regularise the loan account.
4. I have heard the learned counsel for the petitioners
as well as the learned counsel for the respondents.
5. Having regard to the circumstances of the case
and the situation now prevailing, apart from the submissions
made as recorded above, I am of the view that the petitioners
can be granted an opportunity to repay the overdue amount
in 6 instalments and thereafter, if the amount so directed is
repaid within the time as directed above, to have the loan
account regularised.
6. Accordingly, there will be a direction to the
respondent bank to accept repayment of the entire overdue
amount of Rs.4,80,223/- along with bank charges from the
petitioners and regularise the loan account of the petitioners
on the following conditions:
(i) The overdue amount of Rs.4,80,223/- shall be
repaid in 6 equated monthly instalments;
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(ii) The first instalment shall be paid on or
before 10.05.2025, and the subsequent
instalments shall be paid on or before the 10th
day of each succeeding month;
(iii) Petitioners shall continue to pay the regular
EMI's along with the instalments directed
above;
(iv) In the event of default of any one
instalment, the respondent bank shall be
entitled to proceed in accordance with law;
(v) In order to enable the petitioners to repay
the entire amounts, all coercive proceedings
shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
P.M.MANOJ
JUDGE
mpm
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WP(C) NO. 16668 OF 2025
APPENDIX OF WP(C) 16668/2025
PETITIONERS' EXHIBITS
Exhibit P1 A TRUE COPY OF THE SALE DEED DATED
30/3/2017 IN THE NAME OF THE PETITIONERS
VIDE NO. 1298/2017 OF SRO ALAPPUZHA.
Exhibit P2 A TRUE COPY OF THE LOAN AGREEMENT DATED
28/3/2017.
Exhibit P3 A TRUE COPY OF THE STATEMENT OF ACCOUNT
ISSUED BY THE RESPONDENT BANK TO THE
PETITIONERS VIDE DATED 7/4/2025.
Exhibit P4 A TRUE COPY OF THE DEMAND NOTICE U/S
13(2) OF THE SARFAESI ACT VIDE DATED
7/11/2024.
Exhibit P5 A TRUE COPY OF THE SEC.13(4) NOTICE UNDER
THE SARFAESI ACT DATED 16/1/2025 ISSUED
BY THE AUTHORIZED OFFICER.
Exhibit P6 A TRUE COPY OF THE RELEVANT PAGES OF M.C.
NO. 57/2025 FILED BY THE RESPONDENT BANK
VIDE DATED 23/1/2025 BEFORE THE HON'BLE
CHIEF JUDICIAL MAGISTRATE COURT,
ALAPPUZHA WITHOUT LIST OF DOCUMENTS.
Exhibit P7 A TRUE COPY OF THE LEASE DEED (PANAYA
UDAMPADY) VIDE DATED 11/3/2023 EXECUTED
BY THE FIRST PETITIONER WITH DENNY
VARGHESE.
Exhibit P8 A TRUE COPY OF THE AFFIDAVIT FILED BY THE
RESPONDENT BANK REPRESENTED BY THE
AUTHORIZED OFFICER VIDE DATED 23/1/2025.
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Exhibit P9 A TRUE COPY OF THE ORDER ISSUED BY THE
HON'BLE CHIEF JUDICIAL MAGISTRATE COURT,
ALAPPUZHA IN C.M.P. NO. 379/2025 IN M.C.
NO. 57/2025 VIDE DTD 28/1/2025.
Exhibit P10 A TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER JOSEPHINE SEBASTIAN
TO THE PETITIONERS VIDE DATED 11/2/2025.
