High Court of KeralaWP(C)/8766/2015disposed of

Remesh Palackal v. H.D.F.C.Bank Ltd

2015-08-12Honourable Mr. Justice A.Muhamed Mustaque4 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE WEDNESDAY, THE 12TH DAY OF AUGUST 2015/21ST SRAVANA, 1937 WP(C).No. 8766 of 2015 (U) --------------------------- PETITIONER(S):

-------------- REMESH PALACKAL, AGED 40 YEARS SON OF NARAYANAN, PALACKAL HOUSE, RAMAKRISHNA NAGAR PALACHUVADU, KAKKANAD, CSEZ PO PIN-682037 BY ADVS.SRI.K.S.SAJEEV KUMAR SRI.LAJI SAM ZACHARIAH RESPONDENT(S):

---------------

1. H.D.F.C.BANK LTD S.L. PLAZA, PALARIVATTOM, KOCHI-682025 REPRESENTED BY ITS MANAGING DIRECTOR

2. THE STATE OF KERALA, REPRESENTED BY ITS SECRETARY TO GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM PIN-695001 R1 BY ADV. SRI.T.RAJESH, SC, HDFC BANK LTD.

R2 BY GOVERNMENT PLEADER SMT.M.T.SHEEBA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12-08-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 8766 of 2015 (U) --------------------------- APPENDIX PETITIONER(S)' EXHIBITS ----------------------- EXHIBIT P1:

TRUE COPY OF THE CONSENT LETTER VIDE PROPOSAL NO.80773823 DATED 28.10.2013 ISSUED BY THE RESPONDENT BANK EXHIBIT P2:

A TRUE COPY OF THE RELEVANT PAGE OF THE BANK STATEMENT OF THE PETITIONER IN ACCOUNT NO 50200002770191 OF HDFC BANK, KAKKANAD EXHIBIT P3:

A TRUE COPY OF THE DEMAND NOTICE DATED 5.12.2014 EXHIBIT P4:

A TRUE COPY OF THE REPLY NOTICE SENT BY THE PETITIONER DATED 31.1.2015 EXHIBIT P5:

A TRUE COPY OF THE REPLY NOTICE SENT BY THE RESPONDNET DATED 16.2.2015 EXHIBIT P6:

A TRUE COPY OF THE LETTER DATED 11.11.2013 ISSUED BY HDFC HOME LOANS PRODUCED HEREWITH AND MARKED AS EXHIBIT P7:

A TRUE COPY OF THE ENCUMBRANCE CERTIFICATE DATED 30.9.2014 EXHIBIT P8:

A TRUE COPY OF THE NOTICE DATED 11.3.2015 ISSUED BY THE RESPONDENT BANK RESPONDENT(S)' EXHIBITS : NIL ----------------------- /TRUE COPY/ P. A. TO JUDGE Pn

A. MUHAMED MUSTAQUE, J.

-------------------------------------------- W.P(C). No. 8766 of 2015 ------------------------------------------- Dated this the 12th day of August, 2015

J U D G M E N T

The petitioner has approached this Court challenging SARFAESI proceedings. The only prayer of the petitioner is that, he may be permitted to clear the overdue amount in instalments and the Bank may be directed to regularise the account. 2.

Learned counsel for the Bank opposes the prayer of the petitioner and submits that the overdue amount is more than 16,00,000/-.

₹ 3.

Considering the facts and circumstances, following directions are issued:

(i) The petitioner shall remit 3,00,000/- (Rupees three lakhs ₹ only) on or before 31.08.2015.

(ii) Thereafter, the petitioner shall remit the balance overdue amount in seven equal monthly instalments on or before the last working day of each month starting from the succeeding month onwards.

(iii) If the petitioner clears the amount as above, the Bank shall regularise the account.

WP(c). No.8766 of 2015 (iv) It is open for the petitioner to approach the Bank for concession of any portion of the interest and if any such request is made, the Bank shall consider the same, in accordance with law.

(v) If the petitioner commits default in paying any one of the instalments, the Bank is free to proceed against the petitioner. Sd/- A. MUHAMED MUSTAQUE, JUDGE.