High Court of KeralaWP(C)/16111/2015disposed of

Peter M.O v. Sundaram Bnp Paribhas Home Finance Ltd.

2015-06-22Honourable Mr. Justice A.Muhamed Mustaque3 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE MONDAY, THE 22ND DAY OF JUNE 2015/1ST ASHADHA, 1937 WP(C).No. 16111 of 2015 (L) --------------------------------------- PETITIONER:

----------------- PETER M.O, AGED 46 YEARS, S/O.OUSEPH, MAVELI HOUSE, AYATHUPADI, KOOVAPPADI P O, PERUMBAVOOR, KOCHI 683544.

BY ADV. SRI.N.K.MOHANLAL RESPONDENTS:

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

1. SUNDARAM BNP PARIBHAS HOME FINANCE LTD.

SUNDARAM TOWERS, 4TH FLOOR, NO 46, WHITES ROAD, CHENNAI 600014, REPRESENTED BY ITS AUTHORISED OFFICER.

2. MANAGER, SUNDARAM BNP PARIBAS LTD, 2ND FLOOR, ELIZABETH ALEXANDER MEMORIAL BUILDING, MARINE DRIVE, ERNAKULAM DISTRICT 682031.

BY ADV. SRI.VARGHESE C.KURIAKOSE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22-06-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 16111 of 2015 (L) --------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- P1:- A TRUE COPY OF THE SECTION 13(2)NOTICE DTD 1/3/2015 ISSUED BY RESPONDENT P2:- A TRUE COPY OF OBJECTION DTD 19/5/2015 RESPONDENT(S)' EXHIBITS --------------------------------------- NIL.

/ TRUE COPY / P.S. TO JUDGE PJ

A. MUHAMED MUSTAQUE, J.

-------------------------------------------- W.P(C). No. 16111 of 2015 ------------------------------------------- Dated this the 22nd day of June, 2015

J U D G M E N T

The petitioner availed loan from the respondent financial institution. On account of non-repayment of the amount, the institution has initiated SARFAESI proceedings. 2.

According to the institution, the overdue amount is `6,58,000/- and the total liability as on date is around `13,00,000/-. It is admitted that the period of loan is not over. 3.

Taking into the facts and circumstances, the following directions are issued:

(i) The petitioner shall deposit `1,00,000/- on or before 15.07.2015. (ii) Thereafter the petitioner shall discharge the entire overdue amount along with regular EMI in seven monthly instalments starting from 15.08.2015.

(iii) If the petitioner fails to pay any one of the instalment as above, the institution is at liberty to proceed against the petitioner. (iv) If the petitioner clears the amount as above, the account shall be regularised.

The writ petition is disposed of.

Sd/- A. MUHAMED MUSTAQUE, JUDGE.