High Court of KeralaWP(C)/21057/2015disposed of

Joy Sathyanesan v. Hdfc Ltd

2015-07-133 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE MONDAY, THE 13TH DAY OF JULY 2015/22ND ASHADHA, 1937 WP(C).No. 21057 of 2015 (F) ---------------------------- PETITIONER :

------------------ JOY SATHYANESAN, AGED 44 YEARS, S/OP. SATHYANESAN, RAJA NILAYAM PALIYODU, KOTTACKAL P.O., PERUMKADAVILA, NEYYATTINKARA, THIRUVANANTHAPURAM - 683524 BY ADVS.SRI.H.HAMZA ROWTHER SRI.V.K.PEERMOHAMED KHAN RESPONDENT :

--------------------- HDFC LTD REPRESENTED BY ITS AUTHORISED OFFICER, HDFC HOUSE, PB NO.2288, VAZHUTHACAUD, TRIVANDRUM 695010 BY SMT.S.AMBILY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13-07-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 21057 of 2015 (F) ---------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT P1:

TRUE COPY OF THE APPLICATION FILED BEFORE CJM COURT, THIRUVANANTHAPURAM UNDER SECTION 14 OF THE SARFAESI ACT EXHIBIT P2:

TRUE COPY OF THE RECEIPT ISSUED BY THE RESPONDENT BANK. EXHIBIT P3:

TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER RESPONDENT(S)' EXHIBITS :

NIL.

//TRUE COPY// P.A. TO JUDGE bp

A.MUHAMED MUSTAQUE, J.

------------------------------------ W.P.(C).No.21057 of 2015 ----------------------------------- Dated this the 13th day of July, 2015

J U D G M E N T

The petitioner availed a housing loan from the respondent Bank in the year 2005. On account of default in repaying the loan amount, the Bank initiated 'SARFAESI' proceedings. The same is under challenge in this writ petition.

2. The petitioner's only prayer before this Court is that, he may be permitted to clear the overdue amount and the Bank may be directed to regularise the account.

3. According to the learned Standing Counsel for the respondent Bank, the overdue amount is 67,000/-. ₹ Considering the facts and circumstances of the case, this writ petition is disposed of with the following directions :

1. The petitioner shall clear the entire overdue amount in five equal monthly installments along with regular EMIs starting from 28.07.2015 onwards.

2. If the petitioner clears the overdue amount as stipulated above, the Bank shall regularise the account.

3. If the petitioner fails to satisfy any one of the installments, the Bank is free to proceed against the petitioner.

Sd/- A.MUHAMED MUSTAQUE, JUDGE.