R.Salsala v. The Chief Manager

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 22.04.2024 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE J.SATHYA NARAYANA PRASAD R.Salsala .. Petitioner Vs 1.The Chief Manager/Authorised Officer, Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

2.The Zonal Manager, Zonal Office of Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

3.The Branch Manager, Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

.. Respondents Prayer : Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of certiorari to call for the records of the first respondent in respect of the possession notice issued under Rule 8(i)

dated 23.12.2022 and to permit the petitioner to pay the monthly installments of the housing loan.

For the Petitioner : Mr.V.Ajayakumar for Mr.K.P.Jotheeswaran For the Respondents : Ms.S.R.Sumathy

ORDER

(Order of the court was made by the Hon'ble Chief Justice) Heard Mr.V.Ajayakumar, learned counsel appearing on behalf of Mr.K.P.Jotheeswaran, learned counsel for the petitioner and Ms.S.R.Sumathy, learned counsel for the respondents.

2. The present writ petition is filed challenging the possession notice issued under Rule 8(1) of the Security Interest (Enforcement) Rules, 2002, dated 23.12.2022 and further seeking direction to permit the petitioner to pay the monthly instalments of the housing loan.

3. It is submitted by learned counsel for the petitioner and the respondent bank that One-Time Settlement (OTS) has been arrived at

for Rs.2.00 crore. However, some further time is required to pay the amount.

4. It is for the respondent bank to consider the request of the petitioner. The petitioner may approach the bank with a request for OTS or for extending the time to pay the amount. The bank may consider the financial condition of the petitioner while deciding upon the request of the petitioner as per its policy.

5. With the above observations, the writ petition is disposed of. There shall be no order as to costs. Consequently, W.M.P.No.1758 of 2023 is closed.

(S.V.G., CJ.) (J.S.N.P., J.) 22.04.2024 Index :

Yes/No :

Yes/No bbr

To 1.The Chief Manager/Authorised Officer, Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

2.The Zonal Manager, Zonal Office of Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

3.The Branch Manager, Indian Bank, No.169, Lawspet Main Road, Lawspet, Puducherry.

THE HON'BLE CHIEF JUSTICE AND J.SATHYA NARAYANA PRASAD,J.

bbr 22.04.2024